Financial Literacy: Student Daily Finances-Advanced

If you think you have mastered the daily financial basis, or are getting ready to graduate and head out into the “real world”, here is some additional information to help you be financially responsible.


Budgeting for the Future

So you’ve done a great job keeping dollars in your pocket while in college; that’s great! Now comes the real challenge: making those dollars grow. It’s easy to feel confident when you are not in debt or have a job lined up, but the truth is financial security is a decision you make every day regardless of your income. If you were to envision what life might be like at thirty, forty, and beyond what would your wallet need to have in it? That’s the future you must plan for now!

Preparing for Work Life

YES! You have a job and the pay is reasonable! Before you start building your budget, which will include a celebratory dinner, of course; you may want to figure out what you will actually get to take home. There are many hands in your paycheck and it’s better to know it up front before you decide on that fabulous apartment or brand new car. After you take out taxes, healthcare, and retirement contributions your beautiful new paycheck might look like a carved turkey! 

There is no one right way, just YOUR right way! 

What is a 401K and Why Should I Care?

Why, why, why should I care about something I won’t see for decades?!? Though retirement is far away, what you do today has far more power that what you do years from now. Much like a roast in a slow cooker, the more work you do in the beginning, the better the outcome. This is one test you can’t cram for so starting preparing now!