Financial Literacy Tips for Recent Graduates with John Gillick ‘15

By Abby Humbel ‘21

John Gillick ‘15 majored in accounting at the University of Maryland Smith School of Business and found a passion for helping people manage their finances. He is currently an advisor assistant at Financial Council, Inc. As an expert in the financial literacy space and a young professional himself, he has many tips for recent graduates, including these, his top four:

Tip 1: Open a New Bank Account  

In the current banking environment, banks are rewarding those who open new accounts with bonuses. These bonuses range from $100-$300 and can be found with a little googling. Be sure to read through and understand all of the terms so that you understand how to meet the bonus requirement and avoid any banking fees.

Tip 2: Find a Side Hustle 

With today's technology, there are infinite ways to make some extra money on the side. From affiliate marketing to blogging, to virtual tutoring, there are plenty of ways to boost your income from your own room.

Tip 3: Use an App to Mindlessly Invest

Acorn, which rounds up all of your purchases to the nearest dollar, depositing the difference in your investing account. It is an easy way to pay yourself back when you shop.

Tip 4: Start a Roth IRA

You are able to contribute up to $6,000 to a Roth IRA every year. You pay taxes on the contribution when you initially invest and then the earnings will grow tax free for the rest of your life. This can be an extremely powerful tool to set you up well in the future.

As a young professional, money management may seem daunting, but follow these four tips from John and you will set a strong foundation for your future. 

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