BY JESSICA DEMLER, CFP® CBDA, PRINCIPAL AT OXLER PRIVATE WEALTH®

Congratulations, graduates. Whether you’re heading to college this fall or stepping straight into the workforce, you’re about to make real financial decisions — many for the first time. Here are the ones that matter most.

Open a checking account and a high-yield savings account — and keep them separate. Your checking account is for daily spending. Your high-yield savings account is a buffer that actually earns money while it sits there — many currently offer rates significantly higher than traditional bank savings accounts. Aim to build one month of expenses in savings before anything else. It’s not glamorous, but it’s the difference between a flat tire being an inconvenience or a crisis.

Understand your credit score before you need it. Your credit score affects apartment applications, car loans, and eventually mortgage rates. The fastest way to build good credit: Get a starter credit card, use it for small purchases, and pay the full balance every month. Never miss a payment.

Live below your means from day one. The biggest mistake young adults make isn’t spending too much on coffee—it’s lifestyle inflation. When your first paycheck arrives, resist the urge to spend up to it. The gap between what you earn and what you spend is where wealth is built.

If your employer offers a 401(k) match — take all of it. This is free money. If your company matches 3 percent of your salary and you contribute at least 3 percent, you’ve instantly doubled that investment. There is no better return available to you.

Student loans are real debt. Know exactly what you owe, the interest rate, and the monthly payment before you graduate. Surprises here are expensive.

The greatest financial advantage you have right now isn’t income — it’s time. A dollar invested at 22 is worth dramatically more than one invested at 42. Start small, stay consistent, and let compounding do the work.

Jessica Demler, CFP® CBDA is a Principal at Oxler Private Wealth®, an independent, family owned and operated wealth advisory firm in Rye Brook and Manhattan, offering financial care to women and families. For a complimentary, no pressure conversation, call (212) 785-2860 or visit www.oxlerpw.com. Oxler Private Wealth is a SEC-Registered Investment Adviser. Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. Oxler Private Wealth does not provide tax or legal advice. The information presented is not a solicitation to buy or sell any securities or investment advisory services.