Columbia, S.C. (WLTX) - We spend 12+ years learning how to earn money, but little to no time learning how to manage our personal finances. Now that you've completed college, here are 5 money tips for recent college grads:

• Set Financial Goals - The best thing you can do for your finances is to set clear, specific financial goals. These goals will guide you towards better money decisions and keep you focused.

• Grab A Good Book - Blogs won't give you everything you need to craft your personal money map. Books like The Richest Man In Babylon and I Will Teach You To Be Rich will teach you personal finance through stories and writing that's easy to digest.

• Create An Emergency Fund - The average American spends $2,000 on personal financial emergencies. When young adults first graduate, their monthly expenses are low. This gives them the opportunity to save money faster using direct deposit or other online resources.

• Set Up Your Retirement Account - Many entry level positions include benefits and retirement accounts are important in this area. The faster you begin your retirement account, the quicker you'll be vested just in case you decide you want to move to another company in a couple of years.

• Organize Your Expenses - 2016 graduates are walking across the stage with an average of $37,172 in student loan debt. Now that you're finished with school, your loan repayment period begins in six months. It's important to know your federal and private loan balance to understand what programs you qualify for in loan forgiveness and repayment plans.

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