The caps and gowns have been worn. The walk across the stage has happened and now it gets real. Now you will see what you are really made of and what the world really is about. Being in college can give you a false sense of reality. You stay in luxurious dorms and student apartments that you could never afford on your own. You have unlimited food options and activities available that in the real world would cost hundreds of dollars a week.
Everything has to come out of your own pocket and what you don't pay for you don't get. In addition to this new responsibility you also have to figure out how you will thrive financially and not just survive. So how can you do that?
You Not Rich
This is where college graduates make the biggest mistake. You see your salary and you immediately think "i'm rich!" It is the most money you have ever earned in your life and you feel because of that there is room for spending. It's not. College graduates especially those with student loans should live like a college student for a couple more years. This causes them not to spend all their money each month and the extra savings can go to paying down their student loans.
Imagine if a college graduate makes $3000 a month, but lives on $1500 a month? That is $1500 a month that can go to student loans. In one year they would have paid $18,000 towards their student loan. If you want to see a student loan disappear fast, try this method.
Go All Out
This does not mean spend all your money on everything because you only live once. This means that you are not always going to be young so take this time to do more to bring in extra money. Work a side job in your spare time. Sell things you don't need. This extra money could be used to invest, a downpayment on a home, or a used car to replace your old one. You are not always going to have the energy that you have now so use it to grow your bank account.
The key is to start off this new journey the right way. You have worked hard for the salary you now have so use it wisely. Use your time and energy wisely as well. If you do this by time you reach your thirties you will be a financial anomaly.
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