Life After College: Recent Graduate's Guide to the Real World
Explore the economic hurdles modern graduates face when they join the “real world”
Read more about Student
While in college, it’s normal to have help from parents or student loans in order to pay the monthly bills. So graduating and taking your first steps into the “real world” is often a very scary experience. This infographic helps to spell out the steps you’ll be facing when it comes to independently handling your finances.
The good news is that despite the continued economic crisis, most college graduates are successful in finding work. While many continue to pursue the traditional positions aligned with their degrees, others are finding jobs in less conventional avenues. These paid positions include freelance gigs that can be completed from virtually any location thanks to continued advances in technology. Other graduates are using their degrees to gain leadership positions in the military or give back to the global community by joining the Peace Corps.
Between credit card debt and student loans, establishing and maintaining a healthy credit history can be challenging. Thankfully, there are some tools available to young adults to help you get off to the right start:
Sitting down and creating an actual budget is an exercise that helps many college grads get off to the right start. Knowing exactly how much to allocate toward each expense category will help you know how much you have available each month and give you the opportunity to start saving for a new car, house, or even retirement.
While actual costs are going to vary depending on your geographic region and whether you live in a rural, suburban, or urban location, expenses are generally broken down to the categories below. A little research will help you determine what percentage of your income should be allocated to each category and what amount is reasonable for your desired location:
Once you’ve determined the appropriate amount to allocate toward each category, you’ll want to track your spending for a couple of months to make sure you’re on the right track. Many credit cards break down your purchases into expense categories, making this a relatively easy task.
Creating and sticking to a budget will take some time and effort. But putting in the hard work now to develop these and other savvy financial habits will help you build a positive credit history, saving you quite a bit of money down the road.
(Research by Astrid; Graphic Design by Boris)
Follow @CreditDonkey or write to Astrid Martinez at firstname.lastname@example.org
More Articles in Money Tips
Student Credit Cards
Articles on Life After College: Recent Graduate's Guide to the Real World
When you get past the final exams and finally receive your diploma, reality will set in hard. You’re about to enter the real world, where all the bills in the mail will have your name on it and all the major decisions that affect your life fall ...
Here’s one thing they don’t teach you in college: Where you live that first year after earning your diploma sets the tone for your post-education life. You may not live there for long, but chances are you’ll live there much longer than you think ...
When you’re young, the world seems like your oyster. You don’t have wrinkles, your knees don’t creak, and your whole life is ahead of you. What you don’t have is much in the way of finances, except a lot of student loans and maybe some credit ...
Unless we’re very lucky, or very unlucky, most of us will probably spend more of our adulthoods at work than at any other single activity. So it’s no surprise that a lot of people look at job prospects first when they think about where they want ...
There’s a lot to recommend in Georgia for people of all ages, from the warm climate to the diversity of industries that call the Southern state home. For young professionals, though, there are some parts of the state that are clearly more ...
Many people straight out of college want to head to New York, San Francisco, or Chicago to enjoy the big-city excitement during their 20s. But for some, a smaller, more manageable city with strong job opportunities is a better fit for their ...
It’s that time of year for young people across the country. Four years of all-nighters, parties, and racking up debt are in the past, and it’s time to become full-fledged professional adults (and start paying that debt back). In this study, we ...
In the past, being a young professional meant you had it made. Graduating college and entering in a white-collar profession used to mean steady employment, a solid paycheck, and time to enjoy the single life before you settled down to start a ...
What do you think about Life After College: Recent Graduate's Guide to the Real World?
You might also be interested in
More Articles in Money Tips