Chances are, you didn’t take a financial freedom course while you were in college, so how are you supposed to know how to manage your money after graduation? If you are looking to your parents as an example, you’ve got the wrong idea. They’ve worked for decades to reach the level of financial security they’re at now. Here are some great ideas for ways to start off wisely in the world of adult finances.
.
source: Graduation Source
.
Be a Go-Getter
Your first job after college may not be your dream position or even pertain to your field of interest. But it’s still important to give it your best shot. You’ll be starting at the bottom of the totem pole and the pay scale, so you have to be wise about how you behave and contribute to the group.
- Listen more than you speak
- Don’t offer ideas for improvement right away
- Don’t embarrass yourself at company parties
- Keep things professional; no gossiping about coworkers
- Be respectful, hard-working and punctual every day
Avoid These Pitfalls After Graduation
Get Health Insurance
If you are no longer covered under your parents’ policy, obtaining health insurance is one of the most important first tasks you should complete right after graduation. You never know when an accident will happen, and you don’t want to start off your adult life being $100,000 in debt from medical expenses. Your first job might provide benefits including health insurance, but if it doesn’t, you need to find your own. There are plenty of resources available for helping you find and pay for medical coverage. Research your options online or ask your fellow graduates what route they are taking to obtain insurance.
Avoid These Pitfalls After Graduation
Be Smart About Money
It’s crucial that you leave college with a mindset that you are not going to go crazy with the spending. Resist the urge to buy a new car or rent a huge apartment. The time for those luxuries will come later. In the meantime, save as much money as you can and always, always pay your bills on time. You don’t want to be turned down for a home loan in 10 years because you wanted to go to Happy Hour every night instead of pay your rent. Here are some other key steps:
- Make a budget and stick to it
- Save a little money each week
- Take lunch to work and learn to cook meals at home
- Bike or take public transportation to work when possible
pitfalls after graduation
Being smart about your finances is vital after college graduation. If you are disciplined now, you’ll reap the benefits in the future.
