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How To Avoid A Fresh-Graduate Financial Crisis

How To Avoid A Fresh-Graduate Financial Crisis

Graduation is a point in life where we all feel accomplished. We leap in joy, throwing our hats high and falling to the ground gracefully in our gowns. We are excited about life, work, and our future. We look toward our college sweetheart, now soulmate, and make our promises for a bright future together. Our parents pat our backs, wishing us all the luck for our future.

However, eventually life hits us as we walk through every back door for a job interview. If we are lucky, we land an internship position or a dream job in a few tries, but sometimes luck is on the other side and we are forced to scale back and re-think our choices. Student loans and other debts begin to pile up while we wait for the opportunities to knock.

The question is: how do we avoid financial meltdown before it’s too late?

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Here are a few tips and tricks I’ve compiled to help you with this problem.

1. Keep In Mind That Your First Job Isn’t Your Safety Net.

If you’ve noticed, many of us make the same mistakes repeatedly. We assume the first job we land with mediocre pay becomes our safety net. We assume that the very first job is the perfect reflection of our identity and we stop exploring. Nelson Mandela once said that being comfortable is the most dangerous feeling humans can have.

This statement becomes prominent, especially among fresh graduates, as we over-commit ourselves. We put in our first instalment for a car, we purchase a brand new wardrobe, get a new apartment lease, pile up on credit cards, and gather many other unnecessary debts.

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Initially, we enjoy over-indulging ourselves. However, as months go by, our expenses increase and we find it hard to keep up with it. We end up in a loop of debt and payments among other fresh graduates. Eventually, we end up playing catch-up with bills that restrict our freedom to explore other opportunities.

If you’re fresh out of university, always keep in mind that it’s better to save and invest than to purchase material items. Credit cards and car instalments just add up to more debt. Keeping it smart and simple is the best way to ensure your financial security. Opportunities are everywhere, so never assume your first job is your safety net. Instead, give yourself the freedom to explore.

2. Love Isn’t Going To Pay The Bills.

Love is a beautiful feeling shared between two people, and after several years we often feel the need to commit to one another for better or for worse. Unfortunately, many make the fatal mistake of proposing as soon as they’re out of university, with the excuse being time and circumstance. These couples often fail to see that a key part in creating a family or committing to marital life is financial stability.

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As the initial honeymoon period settles, many realize the combined responsibilities of bills, accommodations, food, and many other expenses have begun to take their toll.

You should always keep in mind that love alone isn’t going to pay the bills, but it definitely can wait. If the person is right for you, then encourage them on their path toward self-development, achieve great accomplishments together, and once you’re confident enough in your financial stability, you can tie the knot. This ensures that you and your family can avoid any unforeseen financial uproar later in your marriage .

3. Realize That This Is The Age To Take Risks.

Being fresh out of university is the best time to take risks. However, fear and hesitation can lead many to avoid taking that leap of faith. We stay in jobs that frustrate us, spending hours trailing back and forth on our monitors while looking for new opportunities, but never making any moves. We fail to realize that this is the right time to take some risks.

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As a fresh graduate, you aren’t bound by unavoidable responsibilities and circumstances — you’ve got nothing to lose. You can explore the journey of trial and error and learn from your mistakes. You can take the risk of investing and growing your own legacy. These tiny risks allow you to expand your horizon.

Eventually, these risks give you the freedom to ensure your own financial stability, which will possibly give you the freedom to retire and enjoy the comfort of perfect financial stability for the rest of your life.

In a nutshell, these tips could be your savior in navigating this new realm of independence. Take the time to try to relate and understand how you can avoid financial meltdown.

Featured photo credit: Juan Ramos via images.unsplash.com

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Last Updated on August 15, 2018

When You Start to Enjoy Being Single, These 12 Things Will Happen

When You Start to Enjoy Being Single, These 12 Things Will Happen

Being single can make you weary, especially if you didn't initiate a breakup, it could be easy to get carried away with reminiscing and what-if scenarios. Staying caught up in the past is toxic to your growth, however, and interferes with your ability to move forward. Single life can be self-actualizing and enjoyable, but you need to embrace it first. No matter where you are on your journey in coming to terms with being single, the following 12 fantastic things will happen when you accept it.

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1. You will be more focused.

    Once you start to treasure your new-found freedom, you will realize that taking time for yourself will show you what is most important in your life. Enjoying your single time will make what you want clearer and reveal which areas of your life you should build upon. Additionally, studies show that experiencing something alone results in our brain forming a more clear and longer lasting memory.

    2. You will be more active.

      Studies show that unmarried people are also more fit than their hitched counterparts. Let yourself welcome being single, and use this time to your benefit. You'll be more confident and in control when you do meet someone special.

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      3. You will be more likely to have high goals.

        Being single means you can't settle. In case someone who captures your heart comes along, you need to be at the top of your game. By embracing your time being single, you will be more able to pursue your goals and work towards a more complete, fulfilling future.

        4. You will be more creative.

          Spending time alone is also linked to an increase in creative thinking. Spending more time alone will force you to be a deeper thinker, and could lead you to solutions and projects you wouldn't have thought of otherwise.

          5. Your schedule will be your own.

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            Once you get past feeling lonely and realize how wonderful being single is, you will become aware of one of the best perks – your schedule is now completely your own. No longer do you need to have nights out approved, nor will long days at work get interrupted. Relax into loving your single life because nothing is quite as liberating as deciding every moment of your weekly schedule.

            6. You will likely save money.

              Dating is a great way to wave goodbye to all your hard earned cash. When you're with someone, there's nothing more important than impressing them, including your income. However, when the relationship fizzles, you realize how this tactic doesn't pay off. Not only are we more prone to spending when dating, married couples are more likely to have credit card debt than unmarried singles. So don't get depressed when you're eating cheap meals alone – it's really a form of investing in your future!

              7. You won't need to compromise on entertainment.

                Particularly if your significant other tends to have different tastes than you, being single can be a blessing. As soon as you can appreciate being single, you will realize how freeing it is to always watch exactly what you want. There is no longer any need to skimp on your favorite movies, plays, or TV shows that others don't appreciate.

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                8. You will have more time for your family.

                  Another thing you will realize once you learn to relish being single is you now have much more time for family. Especially when it comes to older relatives, time spent with them truly is precious. Make the most of your single time by reconnecting with family members in your life you may have been neglecting.

                  9. You have more time for your friends.

                    Once you start basking in your single glory, you will also find that you have more time for your friends. Not only will increased free time let you reconnect with friends you may have neglected while being half of a couple, studies also show that married people have much weaker social lives than those who are unmarried.

                    10. You will find new haunts in your city.

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                      Once you start to enjoy your single life again you will also find that you have plenty of time to rediscover your city. Where relationships see us fall into the same habit of favorite spots to drink, eat, or dance, when you're on your own you will naturally start to explore fresh venues again.

                      11. You'll find more interests.

                        Similarly, enjoying your time being single will give you more time to consider new hobbies and interests. Instead of repeating the same go-to dates, you can now freely explore activities that really make you passionate.

                        12. You will be more aware of what you want.

                          Ultimately, taking time to ourselves is an important ingredient in discovering what type of person is our ideal match, or what career we can happily commit to. By delighting in your uninhibited life, you are more able to experiment and thereby find out what works for you and what doesn't. Don't look at being single as a drawback, since learning more about yourself and finding out what makes you tick are crucial in forming balanced, healthy relationships in the future.

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