Graduates throughout the United Kingdom often have to learn the realities of managing personal finances from the first day of their post-graduate life. While some students pay for their schooling and miscellaneous items, most take out student loans and rely on part time jobs and parents to help them get through the university system. Right after graduation, graduate professionals learn quickly the high costs of apartment rentals, student loans, car payments, and the multitude of other financial responsibilities they face as adults. With the right checking, savings, and credit card plans, however, graduates can save money pound by pound to ensure a positive financial future.

The most basic function of banking that graduates should become familiar with is the check book. While many graduates have student checking through their university, they need to become concerned with fees that can build up from their checking accounts. Using an automated teller machine that does not belong to their bank can cost them a small fee, which can build up to several pounds a month for those who use their check cards often. As well, maintaining a minimum balance and using a direct deposit function through the checking account can also cost a graduate some of their hard earned money. Graduates should find a checking account that offers the minimum amount of fees for various services while providing modern services like online banking and direct deposit. There are many banks that offer such accounts and often offer small monetary incentives to draw in customers.

For graduates who earn enough money to warrant a savings account, adding this type of bank account to their portfolio is a great idea. Savings accounts range from basic to deluxe accounts, with the main difference lying in the percentage of interest earned on these accounts. Graduates should steer clear of money market accounts and CDs, which are longer term savings programs which penalize graduates for withdrawing money. There are plenty of banks that offer savings accounts which offer a small interest rate but require a low minimum balance and allow compatibility with accompanying checking accounts.

Perhaps one of the most important issues facing UK graduates today are credit cards and significant student debt. While student loans can run up debt to thousands of pounds, this type of debt is less likely to influence credit rating if prompt payments are made. However, credit card debt can damage a graduate's financial future by lowering credit ratings. Graduates need to pay off their student credit cards as quickly as possible and apply for cards with lower interest rates for emergencies.