Action Line: Financial tips help college grads get into ‘real world’
News from Tulsa World:

Not even counting student loan debt, recent college graduates face a slew of financial dangers, and those inexperienced with money and personal finance have just a short time to understand them before they cause lifelong problems, said Margo Mitchell, president and CEO of Credit Counseling Centers of Oklahoma in Tulsa ( tulsaworld.com/cccsofok).

Budgeting: “Living on a budget and managing money are things recent grads should learn to do right away and not by their mistakes. Mistakes they make now can have costly, long-term consequences,” Mitchell said. “Saying ‘I didn’t know’ is no protection from the penalties for making late payments or overdrawing checking accounts.

“Make a budget and put every dollar in place. Start with your net income – your income once taxes, health care and retirement are taken out. Don’t underestimate expenses. Track your spending for a month or two to understand your expenses and where your money goes.”

See the National Foundation for Credit Counseling’s archived blogs on budgeting ( tulsaworld.com/NFCCbud…………… continues on Tulsa World

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Get advice you can bank on
News from Tampabay.com:

By Elizabeth Behrman, Times Staff Writer
Elizabeth BehrmanTampa Bay Times In Print: Monday, July 30, 2012

As the economy slowly recovers, some of us are finding that there is money again to spend and save.

So now what?

Should you buy a house? Take a trip to Europe? Squirrel your money away in case the recession returns for an encore performance?

Whatever you decide, a financial adviser can help you determine what goals are realistic and help you achieve them. Advisers can help you handle expensive life events like a divorce or sending your kid to college, or they can simply help you organize your finances as you prepare for the future.

But keep in mind that you’re essentially asking a stranger to help you make your financial decisions.

Here are some tips to help you make sure hiring a financial adviser doesn’t cost you more than just a service fee:

Know what a financial planner does.

Financial planners are not stockbrokers, accountants or insurance agents. They take a look at your finances and help you meet a specific goal — like retiring or buying a house. They don’t do your taxes or give you trading advice.

Do your homework.

Anyone with a calculator can call himself or hersel…………… continues on Tampabay.com

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