Congratulations! You Graduated From College. Now What? 

So your baby has completed college! Congratulations to you both. But now what? How can you guide your dear one in a smart money path? Here are a few tips for your clever baby. You just spent approximately four years working like crazy to advance your options and vocation in life. That was an investment in yourself that you and perhaps others made in you. Continue to have that vision for your life that how you spend your money and time adds to that investment in your best self. And start your money decisions with that mindset. Live on less than you earn – If instead of thinking you have finally MADE IT, you will continue to think in terms of being a starving student on a tight budget, life will go very well for you! Many of us made a big mistake beginning with our first job and began an entitlement attitude and spending habits that made life gradually become scary and a bit out of control as we spent far in excess of what we earned. Learn from us, little grasshopper, and be wise. Be organized – If you were the student who procrastinated and couldn’t find your books or your assignments, managing your money will need to be automated. But getting oragnazed now is your very important job. Whether you use a notebook or your smart phone and apps to keep track of your money, make a budget and have a plan for what the heck your money will be doing now that you have a first job. You don’t have the kind of loose cash that letting it fritter through your fingers spilling money here and there that a disorganized life will allow. Unless you get organized you will quickly find yourself getting behind and feeling overwhelmed, my friend. Loans are due – as part of your frugal living remember that 6 months after graduation any student loans are now due. You may have an option that allows a reduced payment based on income and that may be a better fit with your budget. But investigate your options and make the payments. You may want to consolidate loans. I am an investment advisor and not a debt counselor, so this is not my area of expertise. If you will speak to the entity holding your loans you can get more information on your options. Please save- Keep investing in yourself and begin saving for your retirement and emergencies. I KNOW it feels like you don’t have ANY money. But try to do everything you can, including continuing to have roommates, to keep living costs down so you have a bit put aside. It will pay off! You are being encouraged to have a glorious life and future and I’m telling you that though this sounds boring, all this discipline, it leaves a happy and light heart and money worries will not be your lot if you can get on track happy graduate! We are proud of your accomplishments. Good job. A free publication – 14 page Investing in Yourself, from the Federal Reserve Bank of St. Louis, is available through this link: Citations: Marion Syversen, [email protected] Check out our website that includes weekly streaming Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated.