6 money tips new graduates should know  Financial advice for graduates. (Illustration by Kat Brooks/The Washington Post; iStock) | The congratulatory greeting cards are nice, but let's face it: When new grads rip one open, they really hope there's cash or a check inside. But what we should be giving graduates is something that will endure — financial knowledge — that will help them build lasting wealth. Since a lot of personal finance advice doesn't change — even when the nation is freaking out about the possibility of a government default — I like to revisit the advice I often give to new high school and college graduates. Poet Ralph Waldo Emerson complained that students aren't taught basic life skills: "We are shut up in schools and college recitation rooms for 10 or 15 years and come out at last with a bellyful of words and do not know a thing." How true that statement is, especially as it relates to money. Click the link below for six basic yet vital tips to help young adults keep their debt burden down and their net worth climbing. Debt ceiling drama With a looming deadline, will a deal get done? Over the Memorial Day holiday weekend, President Biden and House Speaker Kevin McCarthy (R-Calif.) announced they had reached an "agreement in principle" to raise the debt ceiling and cap federal spending. Here's the latest reporting on efforts to stop a government default. Debt limit deal clears 1st hurdle as McCarthy works to tamp down dissent Debt ceiling deal: Here is what's in and what's out House to vote on debt ceiling deal as leaders scramble for support Debt ceiling deal: 5 takeaways on its economic impact Shalanda Young emerges as quietly essential figure in debt deal Your feedback If you have a personal finance question, call 1-855-ASK-POST (1-855-275-7678). Send your comments and questions to colorofmoney@washpost.com, but due to the volume of mail, personal responses may not be possible. Please also note comments or questions may be used in a future column, with the writer's name, unless a specific request to do otherwise is indicated. | 
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