Financial Tips for ASU Graduates (Part 1)
Congratulations for successfully completing your studies at Arizona State. Believe it or not, now is the perfect time to begin developing a financial plan for the future. It’s a scary time to be entering the work force; but the global economic tsunami we face today has at least forced you to contemplate your future in the short and intermediate term. In retrospect you took all those ridiculous college courses that will never have any relevance to your daily life; yet no one at school taught you how to balance a check book; apply for a loan; locate an affordable apartment, or shop for health care insurance. A basic plan for new Arizona State graduates should focus on four primary objectives: minimizing living expenses by finding an affordable apartment; reducing personal debt; protecting yourself against the unexpected; and building an investment portfolio. Obviously your plan will evolve as your professional career matures and your goals become more ambitious, but your search for an affordable apartment is a possitive step in the right direction.
Now that you’re on your own, the opportunities to wreck your new plan are numerous. Tremendous willpower is required to not over spend on frivolous items like concert tickets, a smartphone, a frivolous apartment or a new car. Recall your previous mistakes. Remember how you spent your last three to four years at Arizona State struggling to improve your GPA that was tarnished by your poor academic performance freshman year? Getting out of debt is an even greater uphill struggle. Buy a used car. Skip the daily Starbucks frappuccino. Get a roommate to share your apartment or two to help defray rent expenses. Check the thrift and consignment stores for clothing. Do whatever is necessary to avoid accumulating any new debt. Debt is a nasty four letter word in our financial plan for new Arizona State graduates.
If you have some outstanding loans plan on making payments in a timely fashion. For student loans consider monthly automatic bank withdraws. Begin building a credit history that will enable you to accomplish greater goals in the future. Avoid late payments on your apartment rent that will tarnish your credit report for years. If you unfortunately have credit card debt it’s time to shop for a low interest rate card that you can transfer your existing balance to. Beware of temporary introductory teaser rates. Inquire about annual fees. How are finance charges calculated? What is the monthly minimum payment? Is there a cash back rewards program? There are many reputable financial publications and internet sites that can help you find cards with low fixed or variable interest rates. Your new financial plan requires that you pay off your entire credit card debt before moving to more ambitious financial goals. Why? There is no financial investment on the market that can guarantee you more money in your pocket than the elimination of interest payments on your credit card debt. Plastic money can be a valuable tool assuming you learn how use it judiciously.
If you would like to find other stories related to Arizona State Apartments for Students and Graduates:
