The world after college can be a difficult and scary place. One thing we often neglect to do is plan accordingly for after college. You graduate, then what? Where do you move? How do you start budgeting? Yes, entering the “real world” after college can be a scary step, but if you start planning now you won’t need to worry.
1. Be careful with your money:
Create a realistic budget. Once you figure out some of your major fixed costs like rent, utilities, student loan, cellphone, etc. — put them down on paper (or on a computer spreadsheet or savings-oriented website) and create a monthly budget. Mapping out your budget is a great way to help you quickly uncover whether you’re on the rocky road to spending more than you make. There are plenty of websites like http://www.vertex42.com/ExcelTemplates/budgets.html that offers free budget templates that open up in excel that will help you. By budgeting your money you will be able to successfully balance the income from your first job out of college and paying off your debt while living on your own.
2. Don’t expect to land your dream job right after college:
You may have a job lined up right after college, but many of us get let down by not landing our dream job right out of college. Keep in mind you are not obligated to stay at that first job. Sure, there are people who interned throughout school, made great networking connections and made sure to land their dream job right after college, but that is not typical for majority of grads. Go after your dream, but keep an open mind when looking for your first entry-level job.
3. Get rid of your debt:
Ignoring your student loans has serious consequences that can last a lifetime. First off, know your grace period. Different loans have different grace periods, so be sure to be knowledgeable about when you have to make your first payment. Make sure to pay off the one that has the highest interest first. A great way to stay informed and on top of your debt is to stay in touch with your lender- whether that be through the phone or email- just make sure to always stay in touch. Lenders are supposed to work with borrowers to resolve problems, so don’t ignore a call from either your lender or collection agency.
4. Continue to learn:
Even once you’re out of college you should still be continuing your studies. Post-college learning can be beneficial to you in many ways. For example, you can enhance your career and continue to develop skills that will help you advance in your field. By continuing to learn after college you can build your “street smarts” in your daily life that is needed for not only your personal, but professional life as well. You can also find a mentor, attend local informational lectures, read, or join a club to help you continue to learn.
5. Create a routine:
By creating a routine, it will help you stay on track after college. It’s easy to fall behind when you don’t have due dates, and exams to study for. From kindergarten up until college you had a daily routine with something consisting of — wake up, eat, go to school, do homework. Why stop the routine after all those years? By making healthy habits and creating an effective daily routine, it can help you get more things accomplished.