So you’ve just graduated — congratulations! Now what? The priority for most new grads is to find a job so that they can begin the task of paying back their student loans.

While it can be scary to be faced with so many new and unexpected expenses after entering the “real world,” it just takes a little knowledge, some planning, and a touch of discipline to manage your money successfully as a recent graduate.

Get to know your debt

First things first, get to know exactly how much you owe and what your interest rates are. It’s easy to feel like making your minimum payment each month is enough to make a dent; however, depending on the amount you owe, paying just $50 more than the minimum every month can significantly decrease the amount of interest you pay on your entire loan.

Make friends with budgeting

Once you’ve worked out how much of your income will go towards your loan repayments, it’s important to plan where the rest of your money will go. Leaving the relative safety of college can open up a whole host of expenses that you might never have thought of, like insurance, utility bills, and income tax, so factoring everything in to your monthly budget will let you know how much money you have left to play with for non-essentials every month.

You might not feel very financially secure at this point in your life, so having a structured budget as a guideline when spending can help you stay on track.

Keep your eyes on your credit score

Something you should do regularly, both during college and after, is to check your credit score. Every payment you make on your student loans will affect your score and, in turn, your options for apartment rentals, car loans, and a whole host of other necessities that require a credit check for purchase.

If you have your student loan repayments under control, you may want to consider opening a credit card to further build your credit score. The best way to do this is to only purchase what you can afford on your credit card and to pay the balance in full each month.

When you make it — save it

While the thought of saving can be extremely daunting when you have so many outgoing bills and repayments, factoring saving into your budget is a smart move.

Begin by working out how much you can afford to save each month in addition to your other expenses, then set up an automatic payment for that amount to go into a savings account, just like you would with a bill. Think of this as “paying yourself first.” You’ll be surprised how great it feels to know that any leftover money you have at the end of the month can be spent on anything you like, as you’ve already added to your savings.

Building up an emergency fund of at least three months of salary is ideal, especially if you’re in an entry-level position, which can often be the most unstable. Once you have a buffer, it’s important to start investing for your retirement into a 401K or IRA, so your money has time to grow. Tom Boos, president and CEO of Billings Federal Credit Union encourages his members to start saving young: “$1 invested at age 20 could be worth $10 at retirement. If you wait to invest at age 30 or 40, you’ve missed out on your greatest asset — time.”

No new debt

Starting a new life after college can bring desires for expensive purchases like new cars, furniture, or even a vacation. If you can’t afford to pay for these things in cash or with savings, it can be tempting to take credit card companies up on their offers of credit as a quick fix. It’s important to remember that every new debt is another monthly payment that you’ll need to make, and missing a payment could cause a serious roadblock for you once your credit score is dinged. Matt Macrow from Valley Federal Credit Union advises, “Make sure you will be okay with any new monthly payment for multiple years, alongside being able to pay yourself first.”

The best way to approach big purchases is to factor saving for them into your monthly budget. It will take longer to get to the gratification of owning that new car or furnishing your new place, but at least once you do, you’ll still be in control of your debt and on your way to paying off those student loans once and for all.