| About To Graduate College |
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Sdubz
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| About To Graduate College |
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I am 21 years old and about to graduate college in May.
I work part time at school and make about $300 every two weeks.
I don't have any money saved up and spend all of my pay checks.
When I graduate from college in May I will have $5,000 in school loans to pay off and plan to look for a real job.
I am just looking for any advice to get me started. I will be moving back home with my parents after I graduate and I definitely want to be independent as soon as possible.
My "financial IQ" is extremely low and I have just finished reading "Rich Dad, Poor Dad". I know that is pathetic but its a start and I am ready to learn anything I can.
Any advice or a point in the right direction would be greatly appreciated 
I want to get started as early as possible!
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Sat Dec 26, 2009 11:29 am |
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oldguy
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Good - you are starting out in good financial shape. Many grads have $50,000 or even $100,000 student loans.
Much of the Poor D, RD hype is the catchy title, the road shows, and the book sales. When I read it (after retirement) my thoughts were that it had very little to do with building wealth, at lesat that's not how I did it. So if you didn't see a solid "how to" in the book, that is probably good, not bad.
Read The Millionaire Next Door, The Automatic Millionaire, and the John Bogel books, thsoe are good starters - and your library will have them, no need to buy them. A higher level reference is The Four Pillars of Investing by Bernstein - but read the others first.
What is your degree in? A marketable field? And where will you be job hunting - The Bay, or anywhere the jobs are?
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Sat Dec 26, 2009 1:15 pm |
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coaster
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Kudos to you for your determination to get started on the right track early in life. You'll develop good financial habits that will serve you your whole life. The very first habit pattern I'd like to see you establish is to always spend less than you make. If you discipline yourself to save, then you know you're in control of your finances, and they're not in control of you.
AFTER you've established the discipline to save by living on less than you make then you can take the next step: put that money to work at making more money.
Those are the two secrets of financial security. Well, OK, they're not secrets, just plain common sense, and nobody needs to buy any books or take any courses to know them. 
Best wishes and good luck to ya.....and have a happy and healthy New Year and a prosperous New Year, and take note that happy and healthy come ahead of prosperous.
~Tim~
Eye Candy : Why Whimsy
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Sat Dec 26, 2009 5:11 pm |
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JamesKim
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Man, I remember asking this type of question a few years ago. I'm 22 years old now and already made plans prior to graduation. So congratulations in terms of being prepared and having control with your financial life.
$5,000 in loans is very low compare to what most students have. I used to work part time moving carts, then finance intern, now I'm a full time accountant at age 22, beating the recession hehe. My advice is to be determined, motivated and always work hard and you'll definitely succeed in many aspects.
First off, know how much each monthly payments you'll have to pay upon that $5,000 loan. Figure out how much you spend every week/month. That way, you'll know how much money you have left and possible set it aside and build your emergency fund, possible investment, etc... My #1 thing is control the debt.
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Sat Dec 26, 2009 10:58 pm |
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Sdubz
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@oldguy
quote:
Originally posted by oldguy
What is your degree in? A marketable field? And where will you be job hunting - The Bay, or anywhere the jobs are?
Thank you! I will definitely check out the first book on the list tomorrow. I am a Business-Marketing major and I will be job hunting in the Bay Area, preferably in San Jose and San Francisco. I would like to get an internship now but I have not found any that pay and fit into my busy college schedule.
@coaster I will definitely take your advice and start "paying myself" first no matter how small my paycheck is. I appreciate your post and I hope you have a great New Year as well.
@JamesKim Congratulations on all that. How long did it take you to find a job after graduating? Did you intern during college or wait until graduation?
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Mon Dec 28, 2009 7:04 am |
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oldguy
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quote:
I am a Business-Marketing major and I will be job hunting in the Bay Area, preferably in San Jose and San Francisco. I would like to get an internship now but I have not found any that pay and fit into my busy college schedule.
"In the area" is relative, lol - Microsoft has been hiring, and, as you probably know, it is a premier company to work for and learn and grow - and has interships. And good pay. It's in the same corner of the US as you are (altho about 800 miles away), and the social/polictical climate (and the weather climate) is almost identical to the Bay Area. For most of us, it was necessary to make some geographical compromises when we got our degree - ie, you go where the jobs are and build your life accordingly.
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Mon Dec 28, 2009 3:28 pm |
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coaster
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quote:
Originally posted by oldguy
....you go where the jobs are and build your life accordingly.
I moved seven times before I got my "lifetime career" job. Actually, moving is kind of fun when you're young. It adds a whole new dimension of adventure.
~Tim~
Eye Candy : Why Whimsy
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Mon Dec 28, 2009 4:20 pm |
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Davied
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yep, I seem to keep moving (just got used to it) I hear Houston is a really great place for jobs now..
You've got your whole life in front of you, whatever you do... enjoy it...
I envy you, oh how I wish I could go back to the last day of college... was such a happier time!
www.moneyroads.com
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Sun Jan 10, 2010 1:36 am |
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merchantllc
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You should find a job and work in company, you can get some exprience and learn a lot in company.
When you get enough exprience ,then you can do you own business.
May be there will take you at least one or few years.
Good luck!
Merchant Solutions|Bar Store|Cafe|Wine shaker
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Sat Jan 16, 2010 10:42 am |
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Sdubz
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Thanks for all the responses. I am excited to graduate in May (I know a lot of my peers are not looking forward to it). I am looking forward to making money and saving it. And by the time I have enough to invest I should have strengthened my financial IQ. My goals are to enjoy this last semester and do my best work and get a job as soon as I graduate (the only hard part). If you guys have any more advice or stories I would love to hear it.
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Sun Jan 17, 2010 6:40 am |
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Cherryl Hanson-Simpson
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quote:
Originally posted by swpga88
Thanks for all the responses. I am excited to graduate in May (I know a lot of my peers are not looking forward to it). I am looking forward to making money and saving it. And by the time I have enough to invest I should have strengthened my financial IQ. My goals are to enjoy this last semester and do my best work and get a job as soon as I graduate (the only hard part). If you guys have any more advice or stories I would love to hear it.
Good to see this eagerness and I hope that when you actually in the hunt for a job you will not be discourage. Remember there are thousands leaving in may as well and in the interview room there will be more questions than you anticipated but keep your calm and be yourself. Wish you all the best.
http://blog.financiallysmartonline.com
www.financiallysmartonline.com
http://fsadvice.com
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Mon Jan 18, 2010 2:20 pm |
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Sdubz
Contributing Member
Cash: $ 9.60
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quote:
Originally posted by Cherryl Hanson-Simpson
Good to see this eagerness and I hope that when you actually in the hunt for a job you will not be discourage. Remember there are thousands leaving in may as well and in the interview room there will be more questions than you anticipated but keep your calm and be yourself. Wish you all the best.
Thanks. Im trying to prepare myself for that.
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Tue Jan 19, 2010 6:19 am |
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splinter7
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Though you want to be on your own, if possible, commute from home as long as you can, once you move out from the 'rents, life costs a lot.
You will get to pay yourself more if you are able to use the luxury of having parents that will let you live with them.
I drove about an hour and a half each way every day for about a year an a half to save my paychecks. I now have a nice size portfolio, a home, a good car and all the toys i want. I graduated mid 2005 and was set as middle class by winter 2009 despite recession.
3 months for a job, 6-8 months for a good job. The good job will come from connections or maybe a recruiter unless you are top of your class with a useful degree.
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Wed Jan 20, 2010 8:33 pm |
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Sdubz
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Cash: $ 9.60
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Joined: 24 Dec 2009
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@splinter7 thats what im planning on doing after I graduate...i know it won't be "fun" but it will be better in the long run judging from your experience. how old were you when you moved out of your parents house?
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Thu Jan 21, 2010 12:31 am |
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C9Consulting
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If I were in your shoes, I would follow these steps:
Step #1, make a budget.
Step #2 stop spending everything you make and follow your budget.
After these doing these two steps for a few months. See if your financial outlook isn't considerably better. Oh and I like rich dad, poor dad...but I think it may not be the best "financial education" book for young impressionable people to read first. Try reading more and more. Aim for at least one book per 2 week period. Personal Finance for Dummies is a great starter. Also, the truth about money will help you with things to consider as you grow. And last but not least...the millionaire next door, will help you look further towards building and maintaining wealth. These books may give you a spring board into financial security in my opinion.
Cloud 9 Financial
Company Blog
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Thu Jan 21, 2010 4:34 am |
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