If you dont have a credit card consider yourself lucky.

I can't show you one damn thing I used my card for yet somehow I managed to run up over $4000.

Luckily, my parents bailed me out and paid the card with a $3500 balance so I am only responsible for the $1000 card that I now owe $850 to.

It's such a waste of money. I cant wait to pay them off and be done with it.

I've had a credit card since I was 16, and I have 2 (plus a debit card) now. I'm just careful with them. 90% of my purchases I use my debit card. Occasionally I use my credit card to make a purchase, but I always make sure I have enough money to pay it off immediately. I've been doing this for 5 years and now I have good credit.

Good credit is incredibly important.

The tax idea is ok except you'll probably end up getting a large amount back at tax time from the gov't and if you have trouble not spending a dollar here and there, having a large amount of money all at once is probably not going to last long either.

Really the only way is to just stop spending. Find something that you want (a house, a new car, etc) and just start putting money away for that. I recommend against the new car, a house is a MUCH better investment. When you have a goal it's much easier to save towards it. Also, it's never too early to put money away for retirement. Starting early in small amounts makes it become a habit and you start to not even notice the money's not there. Not to mention that it lowers your taxes.

There are a lot of places you can save a bit of money.

For example, at the grocery store, get the "family packs" of chicken, chopped meat, etc. These usually have around 3-4 lbs of meat. When you get home, divide it up into portions that are enough for one person, put each portion into a freezer bag, and freeze it that way.

If you have several errands to run and you have to drive around town to do them, combine them into one trip. This will save you on gas and maybe parking fees. (While we're on the topic of gas, shop around for cheaper gas, don't just go to Mobil.)

One other word of advice: Cut down, by all means, but don't cut out every luxury... otherwise you'll be miserable!

*nod* that's what I do: books for semester go on credit card then get paid off ASAP. Credit card is more for emergency situations like unexpected car repairs, gives me a month or so to get it paid back.

Since I am going to be graduating in a couple of weeks I truly need to review my finances and set up a good budgeting system from the transition from college to life after college especially since I do not have a job yet.

Well something that do now is I use a DayRunner Home and Finances Organizer where I try to put each months bills in it. I also try not to go shopping when I am either upset or hungry because you have a tendency to buy more when your in either state.

:)