There are millions of recent college grads that are about to enter the workforce, & although most of these young adults are enjoying actual independence & will start experiencing the "day in & day out" of actual life a number of these recent grads are not prepared to handle the financial obligations that come along with that freedom & that new job. You can gather brief infomation about finlit at my website as well.
Regrettably lots of credit card companies target young adults in college because they know that most will be gainfully employed by the time they graduate, compound that with the fact that most college graduates are carrying a sure amount of credit card debt, so they are already beginning out faced with a significant hurdle.
According to specialists 60% of recent graduates owes money after graduation for student loans, with an average of $20,000. $20,000 is a significant dollar amount due to the fact that the average media beginning wage is around the range of $25,000. You can also visit www.finlit.com to get more info.
The beauty of where a recent college graduate is at their life is that they don't have lots of overhead. They are young, probably not married, & most likely don't have children so college grads are at unique points in their lives where they have the chance to live lean, & establish a budget to pay off debt.
Here are some great tips that ought to start recent grads out on a lovely foot:
Keep track of every dollar. Establishing a budget is the most important thing you can do after your graduate college. Tracking your expenses is important so you can receive a firm grasp of how & where your money is going.
Save now. The best time to start saving is always now, even if it is a small dollar amount it is imperative that you have some kind of savings set aside. In case you start to start saving right out of the gate you ought to have a significant savings account when you are prepared to retire.