Your Financial Graduation: Getting Ready for the Real World
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It’s almost graduation! Learn how you can stay financially smart out in the real world.

When job searching for the first time, you should focus on:
After graduation, I can start managing my own finances by:
To start building good credit, I should:
The best way to ensure I have enough money now and later is to:

Right!

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The Set Your Salary Challenge

Ready to get out there and snag your first job? Before you start interviewing, let’s figure out what you need to make in terms of salary vs. what you want to make. Take some time to go through all of your monthly expenses and write them down. What’s your rent for that new apartment? How much are utilities? And don’t forget your cell phone bill. Also, make sure you’re realistic when budgeting for the necessities like food and toiletries. Once you’ve jotted down all your expenses, set a monthly savings goal and add that in there, too. The total amount will be considered your post-tax minimum monthly salary requirement. Keep this number top of mind so you’re not caught off guard when negotiating a salary.

Session Q & A

  • Yes! The first step is to pull together all of your monthly bills and expenses. If your potential employer is not offering adequate compensation to cover your living expenses, you may need to reconsider accepting the offer.

  • Some steps you can take to establish your finances as an adult include:

    • Transition your student accounts to the adult equivalents, such as switching to a regular checking account
    • Consider setting up an automatic savings transfer and automatic bill pay
    • Check your balance and transactions regularly to keep track of what you’re spending or saving

  • Start by charging a recurring monthly bill, such as your cell phone. Every month, pay the bill in full and start out with a clean credit record.

  • Setting goals in yearly increments can help create your vision for the future. For example, create goals for 3, 5 and 10 years that require increasing savings behaviors over time.

LaTisha Styles

LaTisha is the founder of Young Finances, which teaches simple finance for millennials. The site began in 2010 as a way for LaTisha to share her struggles with money and, in doing so, help prevent young people from making the same mistakes. Since starting Young Finances, LaTisha has paid off over $30,000 of consumer debt, invested for retirement, and started a profitable business. LaTisha has been featured in The Economist, quoted in Forbes, and mentioned in US News as a top personal finance expert to follow on Twitter. LaTisha aims to help millennials budget, invest, and achieve success!

LaTisha is the founder of Young Finances, which teaches simple finance for millennials. The site began in 2010 as a way for LaTisha to share her struggles with money and, in doing so, help prevent young people from making the same mistakes. Since starting Young Finances, LaTisha has paid off over $30,000 of consumer debt, invested for retirement, and started a profitable business. LaTisha has been featured in The Economist, quoted in Forbes, and mentioned in US News as a top personal finance expert to follow on Twitter. LaTisha aims to help millennials budget, invest, and achieve success!

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