The years of studying and sleepless nights have finally led to the moment you’ve been waiting for… graduation! As you cross that stage with your diploma in hand, you realize that you have officially achieved your higher education goals. So, um… now what? Obviously landing that dream job is surely on your wishlist; but what about life, bills, and you guessed it – paying off all that student loan debt? Here’s your guide to mastering your finances like a pro post-graduation.
Consolidate your Student Loans
According to The Institute For College and Success, 71% of all students graduating from a four-year university have some form of student loan debt. The burden of looming debt can be stressful; but no need to fret, some great options are available. Third party companies like Docupop may be able to help. Depending on your needs, income, and a few other personal factors, Docupop can help you find and accurately file for the best repayment plan for you.
Rent, internet, groceries – they can all add up; and without your loans or parents fitting the bill, you may need to adjust your lifestyle to make ends meet. First, find roommates! Living with roommates can help you save a significant amount of your paycheck. Second, make a team effort to turn off the AC, heater, and lights when you’re not at home. Lastly, cut down your shower time and water bill by setting a timer before stepping into the shower. You’d be surprised by how fast you can wash out your shampoo when you have to.
One of the biggest areas you can either save or overspend in is food! Constantly eating out and buying coffee on the go might be convenient, but they sure as heck aren’t cheap! To save some major money, eat at home and discuss splitting food costs and cooking duties with your roomies. Meal prep and eating family-style can be both fun and inexpensive. Check out your local groceries stores for weekly deals, cut coupons the old fashion way, or find food deals online.
Ever heard the term: “cutting the cord?” If you haven’t already gotten on the trend, cutting the cord refers to canceling cable – and more folks than ever are hopping on this bandwagon. Streaming your shows and movies typically gives you more ways to watch and can be far less expensive than basic cable.
It’s Friday night, you’ve got the itch to go out but your bank account isn’t looking very top shelf-friendly. What do you do? Check out Happy Hour! Tons of places offer great Happy Hour specials which can sometimes be at half price or less! Look up deals for specific restaurants in your area and tell your friends to meet you there for discounted grub and cocktails. The beach, hiking or even house get together are also great ways to stay social without going over budget.