August 6, 2007

The pitfalls of graduate finance

It all starts when you go to university this is your first experience of living alone and managing your finances. But this is nothing compared to the real world, when you start a job and leave home. The playing at it is all over and the game is real.

The first thing not to worry about, is the student loan, they can wait for now! You do have until the following year to begin paying it back.

So first things first, it may sound simple but writing a list of income and outgoings saves any mistakes by showing you exactly where you are and how much you have to play with, if anything.

This has two good points, it shows you where your money is going and it also shows you how much you need to be earning in order to stay afloat, so when a job offer comes in you can make the decision if it is any good or not. It also shows you where you can make cut backs if necessary.

Source [Fool]

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