First taste of financial dilemmas.

After the commencement address, the walk across the stage and hugs from loved ones, most fresh college graduates soon land in the “real world.” With a new job, a car, rent payment and perhaps a pile of student loan debt, many get their first taste of adult financial dilemmas that, if unchecked, can stand in the way of properly investing for their future. Here are eight of the most common tips to get off to a good start.

Start saving.

Retirement may be 40 or 50 years away, but it will take a mountain of savings to fund it. And those savings may come in handy for earlier needs. Most experts urge 20-somethings to look into Roth 401(k)s if they’re offered at work, or Roth IRAs if they’re not, and to contribute at least enough to get the employer’s maximum matching contribution. There’s no upfront tax deduction on contributions to Roth accounts. “Sock away any money you can into a Roth, since the tax deduction today isn’t vital but the decades of tax-free compounding will be huge when you retire,” says James R. Miller, president of Woodward Financial Advisors in Chapel Hill, North Carolina.

Pay down debt so you can invest.

While new graduates are sometimes flooded with credit card offers, keep it to one to three cards to avoid temptation, pay your balance every month to avoid interest and penalties, and watch your credit rating, which can be tracked with free online services. If you already have debt, set a schedule for paying it off, starting with the accounts with the highest interest rates. Study your options on student loans, such as deferring payments on undergraduate debt while in graduate school. “Federal student loans offer numerous deferment, forbearance and forgiveness programs, as well as many income-based repayment options,” says Bob Collins, vice president of financial aid at Western Governors University in Salt Lake City.

A budget is important.

As boring as it seems, budgeting can be key to financial success. Tally your income and expenses and economize by cutting spending that provides little lasting value, like snacks and unneeded cell minutes or cable tiers. “The first step on the road to financial security is to take stock of your current situation and go from there,” says Dan Cunningham, founder of One Day In July, an advisory firm in Burlington, Vermont. “While cutting back may seem difficult, remember to think with the end in mind and understand that being frugal now will help you tremendously in the future.”

Build a rainy-day fund.

Most experts recommend setting aside cash for emergencies so you don’t have to raid your retirement fund. Put it in a checking, savings or money market account so you can get at it quickly, even though interest earnings will be small. “Set up a separate bank account for this purpose,” says Jay Messing, senior director of wealth planning for Wells Fargo Private Bank. “Try to accumulate enough money to cover three to six months of basic living expenses. Although it may not feel like it, surprisingly it is easier to accumulate this cushion now when you have fewer financial commitments than any other time in your life.”

Learn about investing.

There are plenty of good investing books, like “Stocks for the Long Run” by Jeremy Siegel. He and others say stocks are the best long-term holdings because they grow faster than bonds or cash, and long-term investors can wait out the downturns. Thanks to mutual funds and exchange-traded funds, you don’t have to know a lot to invest in stocks. “Younger investors have the benefit of a long time horizon,” he says. “Time is the greatest ally of the investor, as time allows for compounding,” says Robert Johnson, president of the American College of Financial Services in Bryn Mawr, Pennsylvania.

Get insurance.

Make sure you have health insurance through work or Healthcare.gov, or stay on your parent’s policy if you can. Car insurance is a must but life insurance might wait until you have a long-term partner or dependents, unless you expect that to be a long time off. When you’re ready, a term life policy will be cheapest. Be skeptical of complex policies that also serve as investments, as they are hard to understand and may not be as profitable as a good set of mutual funds. “Buy some term life insurance,” says John Barnes, a financial planner and insurance agent in Andover, Maryland. “Don’t even think about it, just do it.”

Watch the little things.

Small fees can be very expensive over the long term, so trim bank fees and other recurring charges. With your investments, look at low-fee index funds and exchange-traded funds, and avoid actively managed funds that have large upfront charges, or loads. “While the lure of actively managed mutual funds with a quick payoff may be enticing, the reality is that your financial future will be much brighter if you only invest in low-cost, diversified index funds,” Cunningham says. “Not only do the index funds beat their actively managed counterparts, but they are also a low-fee investment option, meaning it’s easy for millennials with a limited pool of resources to get started.”

Enjoy life — within reason.

“College grads have spent four or five years living on limited funds and delaying gratification, so there is great temptation for chasing a lifestyle,” says Vic Patel, founder of Forex Training Group, a training service for currency traders. With a good budget and financial plan, you’ll have money left over for entertainment, travel and other pleasures, and you won’t feel guilty about every indulgence. So Patel urges you stick with the frugal habits you had in school.

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