{budget}fab*

after graduating college…

Posted on 04. May, 2009 by janelle in penny pinchin'

…we are just released into the big, wild, real world.  We have a bunch of book knowledge, some new friends, one (maybe 2) nice suits and that’s about it.  It’d be nice if our diplomas came with a list of things to do after graduation.  Well, I stumbled upon such a list over at the blog, Own The Dollar.  Blogger, Hank, lists the 10 things he wishes he’d known when he graduated from college.  I think the list is pretty good and wanted to share it with y’all (yes… I said y’all).  Whether you’re graduating this month or graduated 5 years ago, the items on the list are for you. 

1. Start investing from day one! The best thing a college graduate has is time and the power of compounding interest.
2. Focus on doing your current job to the best of your abilities, and the promotions will soon follow. You cannot be successful at your current job when you are looking too far ahead at future assignments and future earnings.
3. Do something you love doing. Yes, we need money to live, but remember - we work to live, not live to work.  Don’t take a job just for the money.
4.  Have a hobby or two outside of work. Without balance in your life, the daily grind will get you down.  You cannot be fab* if you’re always stressed.
5. Spend less money than you earn.  So simple, but incredibly important.
6. Save for a rainy day. Being a grown up is no joke and sometimes serious things that require money come up.  Try and be prepared.
7. Renting is alright.  A house is a great long term investment, but it is okay to rent too if the timing is not right in your life to buy.
8. Picking the right spouse might be the most important decision we make in our young adult lives.
9. Get out of credit card and other consumer debt as fast as possible and then never go back down that road.
10. Never stop learning! Keep getting educated whether it is formally at a college or even informally through blogs, etc.

Have you graduated?  What would you add to this list?

Tags: after college, personal finances, saving