College Graduates Tips for Entering the Real World

You have your degree and that is awesome! You’re an adult now, so here’s the keys for the rest of your life. Bye!

It’s not that easy, is it? You’re probably pretty honked off at whoever told you adulthood was easy and go get ‘em, tiger! You just graduated, and might even have a job lined up in a new city, or might be heading home to live with your folks for a while as you job hunt. You probably have some student loans to worry about, too. As you might have guessed, there’s usually no Adulting 101 to help you figure out being an adult and out on your own.  So, I have gathered some sources, tips, and tricks to help you level up.

Tip 1: 

Learn to cook! Seriously. Cooking your own meals will save you a lot of money compared to shelling out for your workday lunches. If you’re buying coffee and lunch, you could be blowing as much as $50 to $60 a week – more if you pick up a breakfast sandwich and stop at Panda Express or some other take out for dinner. Even at the low end of $50 bucks a week, that’s $2,500 a year! Check out recipe site Budget Bytes to find out how yummy and easy cheap eats can be. When you feel like you’re ready to graduate to buying actual cookbooks, check out Cooks Illustrated and their fool-proof recipes.

Tip 2: 

Learn how to make and stick to a realistic budget. Lifehacker has the how-to and Mint has the app. Setting a budget keeps you from reckless spending and makes sure that you can pay your bills on time. Using a budget also means that you can plan your financial goals instead of putting them in the “someday” box.

Tip 3:

Kiplinger notes that there are tax breaks for new college graduates that you might miss – and miss refunds along with them. Deductions for moving expenses, student loan interest, and other breaks can fatten your refund.

Tip 4:

Major cities are majorly expensive and the job market is tight. It could be worth your while to take a look at Nerdwallet’s best cities for new graduates before you start renting a walk-in closet in Brooklyn. Places like Minneapolis, with low housing costs and high employment, might not have the cachet of the biggest cities, but a fat bank account and eating has a timeless style, too.

Tip 5:

Get a grip on your student loans right now. If you have a grace period on your loans, use it to get established and sock away some cash. If you don’t, you’re going to want to look into deferment until you can get on your feet and try to find ways to reduce what you owe.

After your grace period or deferment expires, you should look into consolidation and other ways to make paying down your balance easier. We have experience in helping graduates tame their loans and get control of their finances. Call us for a free consultation, and let’s get to work!