If there is anything I'd tell a new college grad it would be build a financial cushion as fast as humanly possible. I don't care if you are in debt from your loans... build one - immediately. And yes it is hard when you start out.

Why? You will hate your job one day and probably sooner than later. It just happens, its part of the learning curve. I don't mean that you are always going to hate your job but you inevitably will end up in a situation with a crappy boss doing something you didn't realize you signed up for.

Your cushion will give you perspective. Instead of looking at your crappy job as your life raft and clinging on for dear life, you will be better equipped to realize you have options. If you really don't want to go to that job anymore, you can reasonably wake up and stop the next morning.

Another thing that nobody talks about is that having a cushion can inadvertently gain you more respect in your workplace. I used to work for a group where one of my work buddies was pretty financially independent (this doesn't mean fabulously rich) and unlike everyone else who was desperate to keep their job my work buddy would speak his mind to management. When projects were unreasonable he would tell them to take a hike. Well guess who got all the interesting work and respect.

Seriously build a cushion if you are new to the work world - it only makes your life better.