You have a new job and old expenses. What do you do? Start by temporarily cutting back on nonessential expenses. You can go back to the gym or reinstall cable TV after you get settled in your new job or when you get one with a better salary.

You don't want a lot of monthly expenses that rack up debt. Small financial changes can save money and can keep you from working off big debts.

Take time to plan your new budget. Use our Monthly Budget Calculator because it’s better to be aware of your bottom line then to just guess what might be. Think of your budget as a personal spending plan. It’s simply a way to understand where your money goes and to make sure you don’t buy things you don’t really need.

About those loans ... After drafting a realistic budget, you may find that you have two or more student loans to repay.

• If you consolidate those loans, you can pay off your original loans and get one with lower interest.
• Or you might consider changing your payment plan.

Both options could free up money to pay other bills.

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