BLOGS ASSIGNMENT

Blogs Assignment

Blogs Assignment

Part 1: A Useful Blog

The blog that I have chosen is titled as “Four Financial Tips for College Grads” (http://banksimple.com/blog/Saving/four-financial-tips-for-college-grads/), written by Kristi Berry. This blog is basically a must read for all the college grads who are ready to enter into the professional world. It focuses on the issues that newly passed out students face.

The writer has penned down some useful tips in an efficient manner. He has adopted a direct approach and addressed the issues clearly. It is commonly observed that lack of experience becomes a problem. Any recent graduate may feel like he or she has hit the jackpot by landing a job right out of school, especially in today's job market. While a new office job likely pays more than a gig in college, that does not mean you can be carefree with your finances (Jansen, 2009, 2169).

The major problem that a freshly graduate and unemployed individual faces is the financial problem for which savings are must. Unless you have a job lined up for the day after you graduate, you need to prepare yourself for some instability. Unless you are moving home, you will probably need to find a place to live. Plus, you will need to put food on the table. Do not make the mistake of relying on your credit cards and racking up high-interest debt. Instead, start saving money wherever you can. In three months, you will thank yourself for creating that cushion. These tips presented by the writer are précised and easy to adopt for such individuals.

Furthermore the writer advises the individuals to carefully consider their purchases. Now that you know what is important to you, and you are developing a habit of saving, you need to think about how you spend your money. Consider your purchases. Will a big screen TV bring you closer to your goal of retiring before age 50? Can you afford to volunteer at your favorite charity if you are trying to make extra money to pay off that brand new car?

Also, consider whether or not you can get a good bargain on what you buy. Comparison shop, and look for the best values. Know the difference between needs and wants, and cut out some of the wants in order to help you live within your means and reach your goals.

Many of us run up credit card debt during college. On top of that, many of us have a student loan debt. As soon as you can, pay off both debts. It is true that your student loan debt - for a limited time - comes with a tax deduction, but that is no reason to remain in debt for longer. And you should always pay off your credit card debt as soon as you can. Only paying the minimum will result in thousands of dollars wasted paying interest.

Consider what assets you have that should be protected and evaluate your insurance needs. As a college student, you might not have thought much ...