Nov 02, 2020 10:51 PM EST
The day you graduate from college in your chosen field, you're ready to take on the "real world." If you're already living on your own, in an apartment, or with roommates, then you probably have a handle on what needs to be done. If you've been living in the dorms, however, you might not be as prepared for real life as you might think.
Don't fret! There's nothing saying you can't get prepared when you lived in a dorm and are now moving into your first apartment. Read on below for a few things you should do after that big graduation day to help you get prepared to take on the world.
When you get that first job offer, don't jump at the first figure offered. Instead, take a second to negotiate your salary. Though you're only just now getting your feet wet in the field of your choice, you've worked hard to get that degree and don't want to settle for peanuts. Do your research, go into the interview prepared, and make a case for why you deserve a higher salary than what they're offering. It can't hurt to try, and if you don't, you'll never know, will you?
Now that you have moved into your new apartment, you need to purchase renters' insurance right away. While many young people, and older people as well, don't realize how important renters' insurance is, if your $2,000 TV is stolen and you can't get your insurance company to replace it, you'll figure out the value pretty quickly. It's better to have it and not need it than need it and not have it, don't you think?
From your first time auto loan payment to the utilities in your apartment, and from food to hobbies, you're going to need a budget to ensure you can afford it all. Creating a budget can be super dreary and make you feel like your new salary isn't worth the paper it's printed on, but in the long run, a budget will help you afford things that you couldn't have before, and remember you're only starting out! The money will come.
In those first few days after graduation and moving into your own apartment, you need to sit down with a pen and paper and list the debts that you have. From whopping student loan payments that will kick in sooner than you think, to paying off your car and credit cards, it's best to know what your debts are from the beginning so you can work them into your budget and start whittling them down one at a time. It's also a good idea to research getting a better payment plan and option on some of your debts, in order to save you some money in the short and long term.
There's nothing much more humiliating than being a college graduate who has to ask mama and daddy for money. You can avoid this by setting up an emergency fund in those first days after graduation. You need at least a thousand dollars in your emergency fund at all times. This money should be enough to cover car repairs, a trip to the emergency room, or even having to fly across the country for a funeral. Make sure to put the money back as soon as possible, when you draw from your emergency fund as well.
These are just a few of the things that you should do in the days after your college graduation. Living in the dorms is totally different from living on your own. Make sure you're prepared to meet the challenge head-on.
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