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Tips for College Grads Creating their First Real-World Budget
News from Fox Business:
For college graduates who have their first job, that first paycheck can seem like a lot of money after living frugally while in school.
Grads are finding a new favorite day in their post-college life: payday .
The average starting salary for the class of 2012 was $ 42,569, according to the National Association of Colleges and Employers. For cash-strapped students, these might seem like a lot, but if they don’t budget carefully, they risk squandering away their hard-earned money and sinking into debt.
Grads face a slew of new expenses like rent, food, clothing and entertainment and a majority of new graduates have at least $ 28,000 in student loan debt, according to the College Board. The quicker a plan is put into place, the more financial stability there will be down the road.
“When they have an idea of what that check’s going to be, build out that spending plan before that money gets thrown into life,” says Joseph Montanaro, certified financial planner at USAA.
Spending more than you earn is easy to do, but a budget will force you to calculate your income streams and compare them to your expenditures. When creating your budget, experts advise detailing all your daily living expenses like food, shelter, gas and any other staples, mapping out and pricing any future goals like vacations, retirement and…………… continues on Fox Business
Retirement holds many questions for librarians. Smallwood’s volume offers insight, inspiration, and tips for those already retired as well as those thinking about retiring. A raft of veteran librarians, financial advisors, and other experts address* Planning for retirement, and how to leave things in good shape for those continuing your work* The pros and cons of taking early retirement, including financial considerations* How to stay connected to the profession after leaving the job by engaging in part-time work and through professional-related activities* Second careers, community volunteering, travel, staying healthy, budgeting, and other post-retirement activities and concernsThis book helps librarians navigate a smooth passage into retirement.
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