Finishing College, Now What?
Congratulations, finishing college is quite the accomplishment. It can be tempting to sit back and enjoy the achievement. Life continues to move forward requiring decisions and solutions. Some tools can help make this transition easier.
Get Finances in Order
Use the skills you learned in college to become highly educated about your personal finances. Understand the debts you are carrying for student loans, credit cards, car payments, and any other debt. Write down your debts and your current income. Do a personal audit listing all your debts. If you are carrying debt, you are going to require an income, even if it is not in your field to cover expenses while you job hunt. While student loans are not due immediately, you will want to have some cash available when the bills do come. Debt can have an impact on what you can afford to do next. It is important to address it.
Create a Budget
If you have a job in your field, making the income you planned for, long term budgeting may be easier. If not, you will have to budget based on the income you are able to earn. Budgets should list the necessities first, food, clothing, and shelter. Even if you have not received your loan payments, start putting an amount aside in the budget to get used to living without that amount monthly. Try estimating a higher amount than you think you will need. It is always easier to live with more money later, than less.
Once the basic financial needs are met, the world holds many more opportunities. It is easier to relocate, to travel, and to try new jobs out of attraction, not income requirements. Career planning is at the core of this freedom. Utilizing college career centers for job placement, employment skills, and alumni and employer networking is critical. Employment is the solution to having the financial freedom to pursue your dreams.
