Advertising
Advertising

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?

Advertising

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.

Advertising

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.

Advertising

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.

Advertising

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

More by this author

How to Have the Best Spring With Your Pets 5 Ways to Enjoy Festivals With Pets 5 Best Islands To Definitely Visit In 2017 How Canada Is A Perfect Place For Holidays How To Keep Your Pets Warm In Winter.

Trending in 20-Something

1 One Solid Practice for Tackling Low Self-Esteem 2 If You Want To Get Help From Others Easily, Remember To Avoid This Mistake 3 7 Tools to Optimize Your Next Long-Term Traveling Experience 4 How To Go Through College And Stay Sane 5 The Battle Of The Voices In My Head

Read Next

Advertising
Advertising
Advertising

Last Updated on August 12, 2019

13 Things Mentally Strong People Don’t Do

13 Things Mentally Strong People Don’t Do

Mentally strong people have healthy habits. They manage their emotions, thoughts, and behaviors in ways that set them up for success in life.

Take a look at these 13 things that mentally strong people don’t do so that you too can become mentally stronger.

1. They Don’t Waste Time Feeling Sorry for Themselves

Mentally strong people don’t sit around feeling sorry about their circumstances or how others have treated them. Instead, they take responsibility for their role in life and understand that life isn’t always easy or fair.

2. They Don’t Give Away Their Power

They don’t allow others to control them, and they don’t give someone else power over them. They don’t say things like, “My boss makes me feel bad,” because they understand that they are in control over their own emotions and they have a choice in how they respond.

Advertising

3. They Don’t Shy Away from Change

Mentally strong people don’t try to avoid change. Instead, they welcome positive change and are willing to be flexible. They understand that change is inevitable and believe in their abilities to adapt.

4. They Don’t Waste Energy on Things They Can’t Control

You won’t hear a mentally strong person complaining over lost luggage or traffic jams. Instead, they focus on what they can control in their lives. They recognize that sometimes, the only thing they can control is their attitude.

5. They Don’t Worry About Pleasing Everyone

Mentally strong people recognize that they don’t need to please everyone all the time. They’re not afraid to say no or speak up when necessary. They strive to be kind and fair, but can handle other people being upset if they didn’t make them happy.

6. They Don’t Fear Taking Calculated Risks

They don’t take reckless or foolish risks, but don’t mind taking calculated risks. Mentally strong people spend time weighing the risks and benefits before making a big decision, and they’re fully informed of the potential downsides before they take action.

Advertising

7. They Don’t Dwell on the Past

Mentally strong people don’t waste time dwelling on the past and wishing things could be different. They acknowledge their past and can say what they’ve learned from it.

However, they don’t constantly relive bad experiences or fantasize about the glory days. Instead, they live for the present and plan for the future.

8. They Don’t Make the Same Mistakes Over and Over

Mentally strong people accept responsibility for their behavior and learn from their past mistakes. As a result, they don’t keep repeating those mistakes over and over. Instead, they move on and make better decisions in the future.

9. They Don’t Resent Other People’s Success

Mentally strong people can appreciate and celebrate other people’s success in life. They don’t grow jealous or feel cheated when others surpass them. Instead, they recognize that success comes with hard work, and they are willing to work hard for their own chance at success.

Advertising

10. They Don’t Give Up After the First Failure

Mentally strong people don’t view failure as a reason to give up. Instead, they use failure as an opportunity to grow and improve. They are willing to keep trying until they get it right.

11. They Don’t Fear Alone Time

Mentally strong people can tolerate being alone and they don’t fear silence. They aren’t afraid to be alone with their thoughts and they can use downtime to be productive.

They enjoy their own company and aren’t dependent on others for companionship and entertainment all the time but instead can be happy alone.

12. They Don’t Feel the World Owes Them Anything

Mentally strong people don’t feel entitled to things in life. They weren’t born with a mentality that others would take care of them or that the world must give them something. Instead, they look for opportunities based on their own merits.

Advertising

13. They Don’t Expect Immediate Results

Whether they are working on improving their health or getting a new business off the ground, mentally strong people don’t expect immediate results. Instead, they apply their skills and time to the best of their ability and understand that real change takes time.

More About Mental Strength

Featured photo credit: Candice Picard via unsplash.com

Read Next