Posted on 05/05/2015 1:29:30 PM PDT by SeekAndFind
Though he is among the earliest of those in the Millennial generation- individuals born from 1982 through 1997- and is now older than 30- David Weliver is the creator and editor of the website MoneyUnder30.com.
He speaks from first-hand experience when he says that finding a source of income, i.e. work, has got to be Priority #1 once you graduate. “If you don’t have a job lined up right out of college, you need to focus on your career search.”
In addition, he says you should take time to “project what your life is going to look like in 6 months. Because that’s when the grace period ends and student loan re-payment begins.”
The Dreaded “B” Word
Going from a poor college student to earning a regular salary can make you feel as if you’ve just hit the lottery. But Weliver offers an older-brother word of caution: “You have to figure out what your actual take-home pay will be.” That is, how much do you have left to spend after taxes and potential retirement contributions are taken out?
The next step is to “forecast what your expenses will look like and use this to plan your first year in the Real World. For instance, you might be tempted to buy a new car. But you need to think about the fact that each payment is going to take away from money you have for everything else.
Though he tries to avoid using the word, Weliver admits that, yes, he is advising that you rough out what your “budget” is- an exercise that can make people mentally shut down no matter what their age.
He learned the importance of this the hard way. “I was so eager to have a place of my own I got an apartment by myself.
(Excerpt) Read more at foxbusiness.com ...
Yeah now grow up and pay attention.
My grandson graduates from Penn College of Technology in another week. Four year degree. Already has a job lined up making 45K a year. Plus, a raise every 6 months for the next 3 years. No debt - his parents paid for it out of their own pocket.
My younger son and his wife had job offers the Friday before commencement! My daughter and older son are gainfully employed! They don’t fit the stereotype that Millennials are depicted as.
I was at a commencement in Colorado this weekend. A Senator Cory Gardner spoke. When he began his speech I wondered if he was drunk, then came to learn he’s a coke head, but everyone thought the same thing it turns out.
A shining example....
I wonder what kind of graduates we’ll soon be seeing now that the government propaganda machine’s telling them they should be able to afford college, a home, a car and gourmet meals, all without having to into debt, on a job that consists of flipping hamburgers and dipping fries in oil.
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