{"id":11485,"date":"2017-10-21T20:28:35","date_gmt":"2017-10-22T02:28:35","guid":{"rendered":"http:\/\/www.coolchecks.net\/blog\/?p=11485"},"modified":"2017-10-24T14:34:41","modified_gmt":"2017-10-24T20:34:41","slug":"graduating-from-college-what-next","status":"publish","type":"post","link":"https:\/\/www.coolchecks.net\/blog\/life\/millennials\/graduating-from-college-what-next.html","title":{"rendered":"Graduating From College? What Next?"},"content":{"rendered":"

\"Graduating<\/a>
Graduation from college is a milestone for young people.<\/figcaption><\/figure>There\u2019s an interesting dichotomy related to the college grads who are diving into first post-college jobs this spring. The majority, 69 percent, have student debt and almost exactly the same percentage, 70, said their college didn\u2019t prepare them for real-world personal finance decisions.<\/p>\n

Finance leaders\/researchers Experian and KeyBank both reached the same conclusions. Bottom line, about one in five graduates has a sense of their financial goals, but are not certain how to reach them. <\/p>\n

Based on the numbers, KeyBank offers these insights to grads and those who share a financial link with them:<\/p>\n

Budget. The first paycheck post-grad may look large, especially compared with the part-time, campus and vacation jobs that are typical for students. New realities call for new budgets. Be sure to include all income and all fixed expenditures, including student loan payments, rent, utilities, transportation, clothing (Your new status might mean a new wardrobe), insurance, food and other necessities. Then work on a budget that leaves 10 percent of your income unencumbered so you can begin saving. If necessary, make lifestyle changes to support your decisions. Learn early the difference between wants and needs. <\/p>\n

Establish a savings strategy. Small but consistent steps will eventually make noticeable results. A three-pronged approach provides for short-term goals, long-term goals and retirement. Keep an emergency fund intact, building up to a three- to six-month cushion. Try to have sufficient savings that you don\u2019t have to use a credit card for car repairs and other unexpected expenses. Take advantage of your employer\u2019s 401(k) plan if they have one. Start with the minimum necessary to trigger the employer match and increase your contribution by 1 percent per year until you are saving 10 to 15 percent of your salary. Learn about investing and when you are able, start. Know about compounding and be patient. A small investment, well-managed over time, can become a substantial nest egg against retirement.<\/p>\n

Take a crash course in credit, preferably before you need to use it. It\u2019s part of the financial reality for the majority of Americans. Know about credit ratings, how they are calculated, how you can protect your own and how you can maintain a respectable score that will kick in when you want to purchase a home, car or other top-ticket item. You\u2019ll hear talk of \u201cgood credit\u201d and \u201cbad credit,\u201d but what it boils down to is good or bad credit management.<\/p>\n","protected":false},"excerpt":{"rendered":"

There\u2019s an interesting dichotomy related to the college grads who are diving into first post-college jobs this spring. The majority, 69 percent, have student debt and almost exactly the same percentage, 70, said their college didn\u2019t prepare them for real-world personal finance decisions. Finance leaders\/researchers Experian and KeyBank both reached the same conclusions. Bottom line, […]<\/p>\n","protected":false},"author":53,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[739],"tags":[],"_links":{"self":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts\/11485"}],"collection":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/comments?post=11485"}],"version-history":[{"count":4,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts\/11485\/revisions"}],"predecessor-version":[{"id":11657,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/posts\/11485\/revisions\/11657"}],"wp:attachment":[{"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/media?parent=11485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/categories?post=11485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.coolchecks.net\/blog\/wp-json\/wp\/v2\/tags?post=11485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}