A lot of good advice here, but I will say one thing about *saving* when young.
I grew up in a fairly *poor* environment, my parents immigrated to North America from a pretty shitty place to give me a better life. They both worked numerous jobs, etc so I didn't grow up with luxuries, had to pay for my own school, worked since I was 13, etc. Why is this relevant?
Depending on your skill set and what you think your earning power will be, I wouldn't advise saving 50% or whatever the norm is here when you aren't making much money especially right out of school. You need to live life within reason, and on a smaller salary after 50% is saved, you simply don't have much in terms of options. I am not saying for you to go to Europe on a 10k vacation because everyone else is doing it or to buy a brand new car on a 40k/year annual salary for a fresh college grad, but within reason you need to do things, enjoy life, experience things, etc. You will not necessarily get that chance later on in life and it's just not the same when you are older.
The key is watch for lifestyle inflation. If you can be happy on that 40k with a little bit saved up then you are golden because once you get to 60k/year, it's all gravy, and at 80k that's even more, and so on. Personally in my early/mid 20's I made 45k/year and worked ridiculous hours. Saving was practically impossible after paying bills, living on my own in a high COLA city. I wanted to save, but it was difficult unless I wanted no social life/hobbies. Since then I've tripled my income (30 years old now) and saving is a lot easier mostly because of how much I make, but most importantly for not falling into the lifestyle inflation trap. Right now I could save 50% and still have plenty left over, other times I will save 80%, it depends, the point is there is flexibility. To save on a low salary at the expense of living like a hermit in your 20's (some of your best years) I simply don't think it's worth it.
Don't stress if you aren't hitting insane savings rates at that age, be warned, when you and your buddies get that promotion to 75k, they will all ditch the civics for entry level BMWs and maybe a small condo, at 100k they will want a bigger home and the SUV to boot, it's a never ending cycle and most people fall into that trap. Not having much to your name at 40k in your 20's is no big deal, not having anything to your name 5+ years after school at double that salary then you know you are doing something wrong.