Tips for Landing Your First Job after College

When filling entry-level positions, financial organizations tend to consider the interns who are already working for them before seeking outside candidates. That means that the best time to start looking for your first job is while you’re still in college. Of course, not every internship comes with a job offer at the end, so here are some tips to help you when you start the search for your first job.

First Job after College

Social Sites 

It’s never too early to create a LinkedIn profile. While you’re still in school, you can begin connecting with other students and professionals in your job field. Develop a list of your skills and a summary statement about yourself and your interests that you would share with potential employers. Think of it as your “30-second elevator speech” in writing. Potential employers will look for you first on LinkedIn. In case you have anything questionable on your Facebook site, clean it up ASAP.

Cultivating Mentors 

Find a mentor or two. Do reach out to your school’s career office and professors, but try to develop some contacts in the field. If you have a dream job or dream company, conduct an online search for people working at something you would like to do. You have nothing to lose by asking for a meeting with them. They may be flattered by the attention or impressed that you sought them out and can offer you insider knowledge about the field and possibly a job.

Industry Groups 

Join a professional development group or an industry-specific group. You’ll make personal contacts that can help you learn more about your career field and how to succeed. You may have a group chapter already at your school.

Finance recruitment agencies offer another avenue to explore in landing that all-important first job after college. Beacon Resources is one of the top accounting recruiting firms and is ready to help you begin your career.

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A Complete Guide to Student Debt

Student Debt is a form of debt, which is generally withdrawn for paying all the educational expenses. The rapidly rising tuition costs have made the students to take a shelter under the roof of Student Debt. Students also take a debt to meet all their needs other than their purpose of the study.

student loan debt facts

Reasons for Taking a Debt?

Multiple reasons might work behind when one decides to take a debt. The main reasons for a student to take a debt may include-

  • The constant growing cost of college and tuition fees has only left the way of taking a debt to the students.
  • The low-interest rate of student loan has enabled the aspiring students to fulfil their dreams by taking a debt from the bank.
  • Another positive side of taking a debt is that financially weak students can also pursue their studies without having any further hassle.
  • There is a need for the students to understand that he or she is not alone, who are taking the help of a debt to finish their studies.

In spite of all the above-mentioned reasons, there might be other reasons too. A student can also opt for taking a debt to fulfill his personal needs.

Types of Debt a Student can Go for:-

Among all the available options of taking a debt, pupil generally go for the Student Debt. This type of debt is well known for paying all the costs of the educational field of a student. It has opened a new path for the students to pursue their study without any further interruption regarding the monetary issues.

Besides taking a loan to finish the study, students can also take a loan to meet all the other priorities. The regular areas of taking a debt may include car loan, home loan, etc.         

How to Resist the Temptation of too much Credit?

Student life is a time when one has to manage all the expenses on a very low income. Thus, taking refuge to student loans are the only valid option, which remains to a student. This loan might appear as a boon in the lives of the students to cover all their living costs. The way of resisting a student loan is not at all easy, but finding a substitute is also very essential. You can opt for indulging in a part-time work to meet all the needs.

The positive aspect of student loan is that the payment will not start until your salary package reaches to a certain amount. Try to avoid the usage of credit cards as it might become the reason for a headache. When the credit limit will surpass a certain amount, it will definitely become one of the toughest jobs for the students to repay it.

Why should a Student Avoid Taking a Loan?

Despite the existing reasons to take a debt, there are also some compelling grounds for you to understand that why you need to avoid it.

  • The time period of becoming a graduate may vary from one student to the other. So, there might be a confusion regarding the exact time of starting the repayment.
  • You probably would not able to go for another loan, even if you want to. Depending upon your Credit History, the bank might refuse to provide you with another loan.
  • The way to get rid of a student loan is very critical as it will not go away even if you file for bankruptcy.

Thus, you need to avoid taking such a loan, which might end up creating a trouble.

Effective Ways to Repay your Debt:-

Already under the pressure of repaying a debt? Trying to find out some easy ways to make the path easier? Here are some effective ways to repay your student loan faster.

  • Treat the loan like a mortgage and try to make large payments for cutting the principle quickly.
  • Try to make a plan of the monthly payment you need to pay and work according to that.
  • Set up an account, which will only be used for paying back the college debt of yours.

Taking a debt to meet all the educational needs might be one of the best available options for a student. But, there is a need for the students to check all the options and required time to repay the debt.

With the help of the above-mentioned information, it would be easier for you to discover the positive as well as the negative aspects of taking a student debt.       

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Interesting Facts about Money That College Graduates Must Know for a Better Future

College life is all about attending classes, staying carefree, finding space for yourself, celebrating life with friends, hanging around, exploring freedom and so on. However, after that it is time for you to plan for the future, and know what money is all about. Some students are torn in between relative safety of college and the messy world of adulthood. You have to be careful about the time that follows after college life. It can be a testing time, full of insecurity as the job market is volatile.

You should start recognizing the value of money early so that you do not have to repent later. A part-time job can be an advantage but expenses here and there such as sophisticated-looking outfits, high rents, can be a spoilsport. Most people spend their twenties messing up their money, their thirties trying to figure out what they did wrong, their forties trying to dig out of the hole, and their fifties trying to catch up for retirement. Here are some interesting things about money that every college graduate must be aware of so that they can understand its value right from the beginning.

Money Tips for College Graduates

Student loans can be costly

I would recommend you not commit the mistake of borrowing student loans more than you require, because the less assets you borrow, the less amount of money you have to repay after completing your graduation. This can take a toll on your treasury when you consider other expenses such as room rents and meal plan (if any). So it is important that you borrow student loans as much as you need. Research shows that 41% of millennials have the student loan, which compels them to delay their matrimony and purchasing a property at higher interest rates than previous generations. This is because the student loans take a toll on their treasury.

There are two kinds of student loans available- subsidized and unsubsidized. While subsidized loans are free from interest while you are a student, unsubsidized loans increase interest which you have to repay during your time in college.

Comparing job opportunities and making salary negotiations

Your first job is always a very exciting event. While landing with a job, it is important not to consider only your salary package or CTC, but also other employee benefits like those of health insurance and retirement benefits. Ignoring them can be a huge mistake on your part. To measure which job offer is best, it’s crucial to reckon each benefit your new job might provide –comprising of salary, paid holiday trip, retirement benefits, medical expenses, and others. Compare the job opportunities and offers and negotiate the terms and conditions with the employer. 

Debt is Dangerous

If you want to stay stress-free and have complete peace of mind after college, do not get into consumer debts such as mortgage loans, credit card debt, furniture loans, car loans etc. It will also drain your funds and will be an unnecessary burden if not repaid in time. Failure to repay the debt can lead to frustration and eventually making you bankrupt.

Remember that the credit card debts are always dangerous. The average credit card interest rate today is about 15%. Credit cards are enticing and enable you to go on a shopping spree or dine in a fine restaurant; however with those credit card interest fees will just keep on growing out of control landing you in complete quandary. In a nutshell high credit card interest rates make it a serious menace to a fresher’s financial health.

Create a budget from the beginning

Remember time is your biggest money, so start planning early. Creating budget is a powerful habit and one of the best ways to reach your financial objectives. With it, you will find it easy to chalk out their lifestyle design as well as short-term needs such as buying books for semesters and an exotic vacation with the friends. It will keep a track of all your transactions including all the debit and credit such as semester fees, class books, transportation, health care, food, entertainment, and groceries.

A contingency fund is crucial

Life is full of uncertainties and bad things happen abruptly. So it is important for you to create an emergency fund to meet unexpected expenses like medical expenses due to a sudden illness. 

Invest wisely

Diversify your funds for better investment and wealth management. Invest in lucrative schemes that yield compound interest so that you can reap the benefits later on your life. Initially, you need to come up with a solid investment plan for better wealth management. A savings account is just fine to get started, however, you can also consider opening an IRA or take advantage of your company’s savings schemes.

Conclusion

If you are a college graduate, these are the things you must know about money to save and manage it in a better way for a secured and peaceful future.

Which of the following things about the money you found most interesting as a college graduate? Share your comments.

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