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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 June 24, 2019

Why Social Media Might Be Causing Depression

Why Social Media Might Be Causing Depression

A study [1] published in Depression and Anxiety found that social media users are more likely to be depressed. This was just one of the huge number of studies linking social media and depression[2] . But why exactly do platforms like Facebook and Instagram make people so unhappy? Well, we don’t know yet for sure, but there are some explanations.

Social Media Could Lead to Depression

Depression is a serious medical condition that affects how you think, feel, and behave. Social media may lead to depression in predisposed individuals or make existing symptoms of depression[3] worse explains[4] the study above’s senior author Dr. Brian Primack. So, the problem may not be in social media per se, but how we use it.

Signs You’re Suffering From “Social Media Depression”

If you feel like social media is having a negative impact on your mood, then you may be suffering from “social media depression.” Look for symptoms like:

• low self-esteem,

• negative self-talk,

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• a low mood,

• irritability,

• a lack of interest in activities once enjoyed,

• and social withdrawal.

If you’ve had these symptoms for more than two weeks and if this is how you feel most of the time, then you are likely depressed. Although “social media depression “is not a term recognized in the medical setting, social media depression seems to be a real phenomenon affecting around 50% of social media users. As explained in a review study[5] published in Cyberpsychology, Behavior, and Social Networking, if a person has a certain predisposition to depression and other mental disorders, social media use may only worsen their mental health.

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Social Media Could Crush Self-Esteem

We know that social media and depression are in some way linked, but why is this so? Well, according to Igor Pantic, MD, Ph.D.[6], social media use skews your perception about other people’s lives and traits. To explain this further, most people like to portray an idealized image of their lives, personal traits, and appearance on sites like Facebook and Instagram. If you confuse this idealized image with reality, you may be under the false impression that everyone is better than you which can crush your self-esteem and lead to depression. This is especially true for teens and young adults who are more likely to compare themselves to others. If you already suffer from low self-esteem, the illusion that everyone has it better off than you will just make you feel worse.

Causing Social Isolation and Other Negative Emotions

Another commonly cited reason for the negative impact of social media on mental health is its link with social isolation. Depressed people are more likely to isolate themselves socially and chose only to interact indirectly through social media platforms. But communication online tends to be superficial and is lacking when compared to real-life interaction explains Panic. What this means is not that social media leads to isolation but the other way around, possibly explaining why we find so many depressed persons on these sites.

Lastly, social media use may generate negative emotions in you like envy, jealousy, dislike, loneliness, and many others and this may worsen your depressive symptoms.

Why We Need to Take This Seriously

Both depression and social media use are on the rise according to epidemiological studies. Since each one has an impact on the other, we have to start thinking of healthier ways to use social media. Teens and young adults are especially vulnerable to the negative impact of social media on mental health.

Advice on Social Media Use

Although these findings did not provide any cause-effect explanation regarding Facebook and depression[7], they still do prove that social media use may not be a good way to handle depression. For this reason, the leading authors of these studies gave some suggestions as to how clinicians and people can make use of such findings.

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One suggestion is that clinicians should ask patients about their social media habits. Then they can advise them on how to change their outlook on social media use or even suggest limiting their time spent on social media.

Some social media users may also exhibit addictive behavior; they may spend too much time due to compulsive urges. Any compulsive behavior is bound to lead to feelings of guilt which can worsen depressive symptoms.

Having Unhealthy Relationship with Social Media

If you feel like your relationship with social media is unhealthy, then consider the advice on healthy social media use provided by psychology experts from Links Psychology[8]:

Avoid negative social comparison – always keep in mind that how people portray themselves and their lives on social media is not a realistic picture, but rather an idealized one. Also, avoid comparing yourself to others because this behavior can lead to negative self-talk.

Remember that social media is not a replacement for real life – Social media is great for staying in touch and having fun, but it should never replace real-world interactions.

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Avoid releasing personal information – For your safety and privacy, make sure to be careful with what you post online.

Report users who bully and harass you – It’s easy to be a bully in the anonymous and distant world of social media. Don’t take such offense personally and report those who abuse social media to harass others.

The bits of advice listed above can help you establish a healthy relationship with social media. Always keep these things in mind to avoid losing an objective perspective of what social media is and how it is different from real life. If you are currently suffering from depression, talk to your doctor about what is bothering you so that you can get the treatment you need to get better. Tell your doctor about your social media use and see if they could give you some advice on this topic.

Reference

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