Despite a turbulent job market and economy, if you are a recent college graduate, there is much to be optimistic about as you leave campus and head out into the real world. No one ever said life on your own would be easy, but financial bliss can be a reality.
GET REAL ABOUT YOUR PAYCHECK
Compared to the minimum wage jobs you survived on through college, the annual earnings at your
first post-graduate job may give you dollar-sign eyes. Don’t be fooled though; after taxes, benefits, living
expenses and student loan payments, your remaining monthly spending money could amount to less than half of your gross income.
Thought you were done worrying about test scores? Think again. Whether you want to get an apartment,
mortgage, car or a new job, your credit score says a lot about you and can make or break you when trying to move forward with these important steps.
LOOK OUT FOR NO. 1
After expenses and taxes, your paycheck may look too slim for comfort, but protecting your assets,
health and income with insurance is worth the additional cost. If you have an apartment, renter’s insurance is a relatively inexpensive way to protect your possessions. Health insurance is also a must. Your paycheck is worth protecting, too. Disability income insurance is not just for those with physically
SAVE FOR FUN STUFF
You have worked hard to start your career, and deserve to reward yourself. The best way to spend smartly is simply to spend less than you have. Diligent saving allows for the occasional splurge without having to feel guilty or anxious about your decision to spend. Consider directly depositing into a savings
account for a “fun fund.”