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Financial Tips And Advice For College Grads

Updated on April 23, 2012

Welcome To The Real World!

Your college days are over, and it is time to find out what it is like to be an adult. While being an adult isn't so bad, there are a lot of responsibilities. Your number 1 objective out of college is to stabilize your financial situation. Doing this will make sure that you do not go bankrupt, or have trouble paying off student loans and other obligations.


Manage Debt While In School

This means that you should not take out a lot of credit cards, or blow money you do not have on things you do not need. It seems like a simple concept, but staying out of debt is such an important element of living a good life, so don't get yourself in trouble before you even start the race. A few rules to live by while in school:

-Don't have more than one credit card, and do not use that for anything other than emergencies

-Plan out all your expenses while still in school. Figure out where you can find work, even if just part-time, to start paying off student loans and get ready for things like rent and paying your own bills

The credit card companies are not your friend, so don't take that 5,000 dollar debt limit and blow it all at once. Bankruptcy is not fun.

Find A Job

The biggest thing you can do is to find a job. It might be hard, but the key is to gain experience, even if outside your field. You will learn that the big thing employers want is a degree and some kind of experience, even if it isn't in the field you are applying to. As a younger worker, a company can mold you, and further education will be needed anyway. Might as well make yourself more marketable now.

Don't worry about being at work only 20-30 hours a week, or whatever arrangement you have to make. Just make sure you are making money and gaining skills and connections. You are still at an age where having a roommate isn't a bad thing, and you probably do not have a family and kids to support yet. The ideal situation is a full-time job with benefits, but you will find that there are many options out there for you that can pay your bills and provide fulfillment.

Make More Than You Spend

Starting to see a pattern here? The biggest goal after college is to find a paycheck and not spend more than you make. What happens if you outspend what you bring in?

-Bankruptcy

-Bad Credit Score

-Calls From Creditors

What are the results of that?

-High Interest On Loans

-Lack Of Loan Options For Buying A Car Or Home

-Jeopardize Your Chance Of Getting An Apartment Or A Job

What happens if you save money?

-Savings In The Bank

-Have A Down Payment For A House

-Take Girls Out To Dinner At Nicer Restaurants

-More Happiness At Work And In Life


How Should College Grads Prepare For Life After School?

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    • profile image

      skymaster 5 years ago

      Interesting and useful. Well balanced expenses is the key for good College years

    • KeithTax profile image

      Keith Schroeder 5 years ago from Wisconsin

      Straight forward and to the point. I like it. Common sense advice.

    • Millionaire Tips profile image

      Shasta Matova 5 years ago from USA

      Great common sense advice. Managing your debt and getting a job will surely help you achieve success as a new adult venturing out into the world.

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