Planning for Your Life After College

Yup, college is stressful alright – projects, assignments, tests and quizzes, every single day. It might seem like the end of the world for you and me but, in truth, life after college is so much more stressful. For one, you now have to work out how you can survive living on your own without your parents picking up the slack.

So, what is life after college actually like?

It’s Time to Move Out

Moving out of your parents’ house means you have to find your own. Usually, people rent while they are still saving up. The decision on whether to rent or buy your own home typically depends on how much you have saved up and how much you are earning.

As a rule of thumb, you need to make sure that you save at least a third of your income if you would like to buy a home of your own. Until then, renting might be a more practical option. It is also a good idea to keep in mind that both renting and owning a home has its own set of advantages and disadvantages.

If you are really gunning for having your own home even though you do not have enough yet for the down payment, you might want to consider USDA loans here in Orem, Utah. There are three programs under this loan -loan guarantees, direct loans, and home improvement loans and grants.

Monthly payment, though, can come up to about 30% of your monthly income, so you need to make sure that you have your numbers all lined up. A credit score of 640 or better would also allow you faster processing.

Work: The Four-Letter Monster

Ah, yes! Career! If you work, you’ll get paid. Unfortunately, sometimes it’s not that easy to land a job you love while making sure that you are getting paid enough. In most cases, you have to trade something off – would you rather pursue your passion even if the job does not pay that high?

Or would you go for a high salary even if the job is not in line with your passion? As a fresh graduate, a good way to build your career would be to go first with what can sustain you financially. You still have years ahead of you when you can work on establishing your career.

Secure Yourself

piles of coins and calculator

You might have your home and your work, but you still need to make sure that you manage your finances well. It can be quite easy to start spending left and right since you are already earning but, at some point, this can get you in the red. You have to remember that you also have to factor in your daily expenses.

It is also a good idea to have some money saved for the rainy day. After all, nothing is set in stone, so you need to be ready should emergencies happen or, worst-case scenario, you suddenly find yourself without a job.

The above are just some of the things that you need to work on to get you going as soon as you finish college. There are still more things that you have to earn as you go along what we call as “adulting.” Your experience, as you go along the way, should be more than enough to help you find your way through.

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