In my last post, I covered the challenges that Millennials face due to new rules governing student loans and qualifying for a home mortgage. Young homebuyers need to employ a strategy for navigating their finances starting with high school graduation! A stagnant job market and ever increasing student loan debt force Millennials to postpone some of the things that other generations dove right into. For example, it would be wise for young college grads to postpone buying that first brand new car in order to avoid a five to seven year loan payment. Instead, purchase a reliable, late model used car in the $2,000-$10,000 range and pay cash, if possible. Starting a regular "pay yourself first" savings plan immediately after college by putting aside a set amount or percentage of your income in a savings vehicle before calculating take home pay is a good idea. Begin good savings habits now. Finally, don't be afraid to bask in the love of your family by living at home for as long as is mutually tolerable! Offer to pay a small stipend for rent and other expenses to Mom and Dad and bank as much money during that extended family time as possible. Think in terms of a slower, more humble approach to your career and life that will pay huge dividends when you finally purchase your first home. Your self discipline now will result in a much more fruitful future!