Friday, March 16, 2012

Seven Biggest Money Mistakes by New MBAs / New Grads.

From the link:

(Real the whole article from the link above. Here, below are only the main headings).
Whether it’s taking on too much debt or not enough, this year’s graduates are navigating a financial minefield.
Graduating from School and entering the "real world" can inflict total chaos on your life: Suddenly, you have to figure out how to feed yourself without the assistance of a 24-hour dining hall. Your closest friends, who used to be just a dorm-room away, are now scattered across the country. Your parents are less willing to send checks upon request. On top of that, you have to start paying rent, find and keep a job, and somehow convince yourself to start saving money for retirement, which is about four decades away.

It's overwhelming, but not insurmountable. These seven mistakes and their solutions, are designed to help college grads bypass common hiccups and take control of their financial lives.

1. Taking on too much debt—or not enough.
2. Becoming victim to rapid lifestyle inflation.
3. Falling into bad money habits.
4. Waiting to save and invest.
5. Failing to negotiate for a higher salary.
6. Thinking you're done studying.
7. Getting buried in paperwork.

The bottom line: Add "getting on top of your finances" to the list of things to do after graduation day—and try to make it at least as fun as cleaning out your dorm room.

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