7 Things Every College Grad Must Consider

The Wall St Journal created a video discussing the seven things that every recent college grad needs to consider. Much of the information in this video would apply to nearly everyone.


 

 

 

 

4713214378_71561a7ed0_zphoto by Shoshana

Student Loans

After rent/mortgage, these loans are probably the second largest expense that any recent grad will have. Unfortunately, it seems that many people have a hard time paying these loans off; they have a shockingly, these have an incredibly high default rate.

9400891667_179a7f7bc5_zphoto by Milestone Mgmt

Rent

(or if you are lucky enough, mortgage) is your largest expense; plan accordingly. Don’t bite off more than you can chew.

 7027596629_1b17209fa6_zphoto by Tax Credits

Budgeting

make a budget and stick to it.

 9027029071_cd951d5299_zphoto by Jason Baker

Bank Accounts

At a minimum you’ll need a checking and a savings account. It makes sense to shop around for low fees and reasonable interest rates (although that’s pretty tough in today’s market)

credit cards studentsphoto by Maria Klärner

Emergency Fund
You need to save for a rainy day. Have or establish a savings account to save for unexpected; put aside at least enough money to cover 3-6 months worth of expenses.

6669036793_2d770cf1a8_zphoto by Ken Teegardin

Plan For Retirement
4-5 decades from now may seem like an eternity, but it’ll be here before you know it. start saving immediately and through the magic of compounding, you will have more money that you ever believed you could have.

These are all important things that every new graduate needs to make themselves aware of. Also, many of the items on this list are relevant to everyone.

About: This video is from the Wall St. Journal.
Topics: Investing, Personal Finance, Retirement
Published: May 21, 2015

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