Congratulations! Graduation is a milestone and an achievement. It’s also a time to start thinking about forging your own path in life — which could mean getting a first job, moving out of your parent’s house, purchasing your first car, and planning for the future.

Here are some tips and tools to help you get off to a good start as you start your new life.

1. Focus on getting a job: Make sure your resume is updated and accurately reflects your work and or scholastic experience. Practice interviewing with a friend or family member to make sure you’re prepared before you meet your potential new employer.

2. Contribute to your 401k: When you land your new job, enroll in your company’s 401k immediately. The earlier you start to save, the harder your savings will work for you. Our Compound Interest Calculator will show you how much your savings will compound over the course of all your working years.

3. Check on your car insurance: You may have been covered under your parent’s auto policy while in college and if you’re planning to live on your own, make sure your car remains covered. If you’re younger than 25 years old, Farm Bureau Financial Services offers a Driven to Safety discount. Learn more about how to qualify at Driveology™.

4. Budget for a new car: If a new or used car is in the picture, and you don’t know how much you can afford to spend, use our free Auto Calculators to help plan for and budget your payments.

5. Investigate health insurance options: A new law allows students and children to remain on or return to a parents' health insurance plan until age 26¹. Make sure that your plan is in force and that you’re adequately covered.

6. Consider renter’s insurance: If you’re renting an apartment, renter’s insurance is affordable and will provide peace of mind should the unexpected occur. It’s important that all of your furniture, computers, electronics, books and other belongings are insured. Document the value of your personal property by using a Home Inventory Kit. It’s free, easy to use, and will help determine how much insurance you need. The kit will come in handy should you ever need to file a claim.

7. Create a budget: Living within your means will help prevent getting into trouble with debt. As tempting as it is to buy things, knowing how much you can afford to spend will help you stay within your budget. Track How Much You Spend using this free tool and learn how to budget. Pay with cash. If you can’t pay cash, reconsider making the purchase. Credit card debt can build up very quickly and can become a financial burden that follows you for a long time. If it’s a large item you’re looking to buy, try using our Savings Calculator to determine how long it will take to save the money needed for this purchase.

8. Guard your identity: According to the Department of Justice, identity theft caused more than $17 billion in financial losses from 2006 to 2008, with the average victim paying $1,870 in out-of-pocket costs. Preventative services that protect against identity theft and monitor your credit are available and worthwhile in saving you time, money and frustration should your personal information ever become compromised.

9. Learn to cook. You’ll save in the long run by preparing your own meals. Getting into the habit of coupon clipping and making coffee at home will save even more. Just think, if you were to save the $4 spent each day on caramel lattes, you would have saved $114 each month, or nearly $1,400 each year.

10. Find things to do that don't cost much money: Check out books or movies at the library. Take a walk or enjoy the company of friends by playing inexpensive card or board games.

¹“Young Adult Coverage Until Age 26.” Healthcare.gov. Posted September 23, 2010. http://www.healthcare.gov/law/provisions/youngadult/index.html