| Plan your financial future after college, through your | | | | Nurse - $38,775; |
| twenties and beyond.A new car is the first purchase | | | | Financial /Treasury - $45,596; |
| most college graduates want to make directly after | | | | Software -Design - $53,729; |
| graduation. You may ask yourself, what is the matter | | | | Consulting - $49,781; |
| with being rewarded with something nice after | | | | Source: CNN Money 2005After obtaining their landing |
| completing such a hard task that you have been | | | | your first job, many college graduates think it may |
| working towards your whole life? Depending on what | | | | be a good idea to move back home with their |
| your entry-level job pays; it would be wise to spend | | | | parents so they can save money. Saving money is |
| accordingly with your available income. Many | | | | not always the case when moving home. Having the |
| graduates think they are getting better paying jobs | | | | feeling of fewer bills can provide you more freedom |
| than they actually get after college, so they purchase | | | | for going out and buying an expensive car, stereo or |
| a vehicle way out of their price range. "I know when | | | | designer clothes. So, instead of saving your money, |
| I graduate in December, it will be nice to get a new | | | | graduates could be spending it on items they do not |
| car, but I know there will be student loans and other | | | | really need. It might be a smarter idea to actually |
| living expenses to pay off first," says Jayne Santucci, | | | | stay independent because you will grow and may |
| a senior at Florida Atlantic University. "When recent | | | | learn faster what it means to be self-reliant. As a |
| college graduates get their first job, they see their | | | | college graduate, you may struggle starting out at |
| co-workers with brand new cars, so they think they | | | | first, but it will be beneficial to you in the long run.The |
| should get one also, not knowing the co-workers | | | | most important word to you, a recent college |
| experience and salary," Santucci adds.If you are going | | | | graduate, should be "b-u-d-g-e-t." By creating a |
| into a career that coincides with your college major, | | | | budget, it will give you the opportunity to design a |
| you may want to consider starting with an entry | | | | method to pay your bills and save for something you |
| level position rather than taking a higher paying job in | | | | really want. The better you are at sticking to a |
| an unrelated field. The entry level job will be better | | | | budget, the more peace of mind you will have when |
| for you in the long run because it will give you more | | | | it comes to your personal finances.A person's |
| opportunities to advance in a field that you were | | | | twenties could be the most important years to start |
| trained in. If you start with a higher paid job in a | | | | achieving your financial goals. The earlier you invest |
| different career, you might lose interest quickly and | | | | the better. If a 25-year-old who invests $2,000 a |
| have little room for advancement. Stick with your | | | | year at a 6 percent compound interest annually for |
| career, and the money will eventually come.When | | | | fifteen years and never invests another dollar, after |
| you get hired for your first job in the "real world," | | | | the age of 40, the 25-year-old will earn more by the |
| find out what kinds of retirement plans are available. | | | | age of 65 than a 35-year-old who invests $2,000 a |
| The majority of employers offer 401(k) plans or | | | | year at 6 percent compound interest annually for 30 |
| other tax-deferred retirement options. With every | | | | years, even though the 35-year-old would have |
| paycheck you receive, you can contribute money | | | | invested twice as long.Last but not least, it is |
| into the 401(k) and many employers will match some | | | | important to identify a short, medium and long-term |
| part of your contribution. This will help you save for | | | | goal for yourself. A short-term goal may be a new |
| your future. Start your savings account immediately | | | | car, a vacation or a television. A medium-term goal |
| and if at all possible have your money directly | | | | could be buying a business, a house or paying for |
| deposited into your account. Learn to pay yourself | | | | your child's education. A long-term goal can be |
| first!According to CNN Money, college graduates of | | | | retirement and traveling.Managing money as a young |
| 2005 are being paid more in starting salaries than the | | | | adult can be the most important in terms of your |
| class of 2003-2004. Here is a list of the average | | | | financial situation. It is best to do research and want |
| salaries for college graduates:Accounting - $41,039; | | | | to learn about how to manage your credit, bills, and |
| Management - $35,811; | | | | any extra expenditure before it is too late. Be smart |
| Teaching - $29,733; | | | | with your money. |
| Sales - $37,130; | | | | |