Mastering Life After College

Hey there soon-to-be college grad! Congratulations on all your hard work. You are almost ready to embark on the next chapter of your life. This is an exciting time – one filled with lots of changes and opportunities, like starting a new career and learning how to manage living on your own.

To help you transition to the “real world” and start looking for a career, here are some helpful tips to help you choose the career path that is right for you.

Know Your Strengths

Ask yourself these questions:

What are you deeply passionate about?
What can you be the best in the world at?
What motivates your economic engine?

If you find answers to all three of these questions to have common ground, that could be the direction you want to pursue.

Consider Skill-Building Opportunities

Landing that “perfect job” right after graduation is everyone’s dream, however it is important to remember that you may move around positions before you find what is right for you. Go into every new opportunity with the goal of skill-building.

What are some new skills that you have learned?
What can you add to your resume?
What have you learned about yourself?
What did you like and/or dislike?

Be Aware of Benefits

Benefits are something that is often overlooked when searching for the right employer, however employee benefits can be as important (if not more) as the starting salary.
Possible benefits include:

Insurance (health, Dental, Vision, Life, Disability)
Paid Time Off
Remote Work Opportunities
Retirement Plans (401k, IRA, pension)

Before you accept a job, be clear on the benefits with the employer. These may not seem important now, but they will be in the long run.

Budget Your Finances

Now that you have the gig and have all this adult money, it is tempting to buy the fanciest car or more expensive house. But you should keep in mind that living on your own comes with a lot more expenses than a car and house.

There are several strategies to help you keep your finances under control and within your means:

The 50/30/20 Rule – Allocate 50% of your income to essential expenses (rent, groceries, utilities, transportation and minimum debt payments), 30% for recreational spending, and 20% into a savings.
Track your spending.
Automate Savings – Set up automatic transfers to your savings and retirement accounts to ensure consistent contributions without the temptation to spend.
Work with a financial counsellor – Financial counsellors are a phenomenal resource when you need a little extra help with budgeting your finances. Dannemora FCU has four financial counsellors available for FREE for our members.

In conclusion, this is an exciting time in your life with so many opportunities coming your way. Revel in these last few months of college life and refer to these tips as needed. You can also find more financial resources on our website: to https://www.dfcu.net/services-tools/tools/financial-education.html

Dannemora Federal Credit Union – Small Enough to Know you. Large Enough to Serve You.