Financial Steps for New College Graduates
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It’s hard to believe it, but graduation season is upon us. It was sadly 17 years ago that I first became a college graduate. Looking back I wish I could shake my younger self silly. Not only was I mired in loads of credit card debt but I also had no clue what I was doing with my money. We have all heard the numbers about how there is over $1 Trillion in student loan debt, but what is often overlooked is that the average college graduate is leaving school with $3,000 in credit card debt as well. Add that number to an already anemic job climate and it can spell a fairly challenging situation for many college graduates to face.
I’ve spoken at length about financial literacy before and know for many they’re going to form their financial habits once they enter the “real” world, if they haven’t already. If they’ve not dealt with major money issues in the past it can be overwhelming to start now as they’re dealing with finding a new job, moving, etc. Although it might be overwhelming, it doesn’t have to be impossible to manage. I believe by following a few simple steps many college graduates can start out their post-college lives on the right foot and set themselves up for a profitable future.
If you’d like to read more about what these simple financial steps are, check out my latest article at Daily Finance.
Photo courtesy of: Schlusselbein2007
John is the founder of Frugal Rules, a dad, husband and veteran of the financial services industry whose writing has been featured in Forbes, CNBC, Yahoo Finance and more.
Passionate about helping people learn from his mistakes, John shares financial tools and tips to help you enjoy the freedom that comes from living frugally. One of his favorite tools is Personal Capital , which he used to plan for retirement and keep track of his finances in less than 15 minutes each month.
Another one of John's passions is helping people save $80 per month by axing their expensive cable subscriptions and replacing them with more affordable ones, like Hulu with Live TV.