Friday, February 15, 2013

Financial advice for newly graduated

Some Australian young must return to the parent home because they have no jobs. During the crisis, the jobs opportunity is narrowing. The company has not received any employee because they have to minimize the spending.
After graduated from college, you must be confused where to go? The economic is so tight and the unemployment is so high. You may be difficult to find jobs.  However, you should responsible to your life. You have to make effort to reach wealth.

1. Find the jobs

No matter how hard you try, you should find a job. Ask the people near you about the vacancy. They may have job vacancy information. It will be better if they recommend you to a company or institution.  Sometimes the classmate informs you a good position in their office.
You should be proactive. Promote yourself that you are n expert and the company or people will hire your service. Promote your self at social media too and prove that you can do as an expert.
Write a good application letter and curriculum vitae so the company may attract to interview you. Most newly graduate do not write good application letter. They just imitate the other people letter; whereas, we are different each other. By copying other people’s letter, we cannot promote ourselves well.
Make sure you apply the right jobs for you. Do not waste your time by working the jobs that you do not like. Apply the job that you like and fit to your education background.
If you cannot find jobs, you should consider to start business. Some unemployment can reach success after starting business. Use the capital that you have. Do not depend on money only.  Use your brain to make money.
2. Create a tight budget
Most young men do not think the future. They spend all the salary for the things that they supposedly not buy. They do not know exactly where to spend the money. Some newly graduated buy useless gadget. They jus want o show to their friends.
Supposedly, they earmark the money for saving. Saving is important to reach wealth. When you need the money, you can withdrawn the saving. I believe a newly graduated also needs money when they marry. After marry, they must need a house. Hiring apartment or house is sometimes awfully. When hey have kid, they must need more money too.
Creating a tight budget does no mean miser. You can still give donation or charity o other people. It makes you and other people are happy.
3. Learn about financial planning
Although you are not graduated from finance major, you need to learn about financial planning. This science will help you to plan your future and reach the wealth. It is not difficult to learn it. You can read the book that is written by Dave Ramsey, Suze Orman, Robert Koyasaki, and else. If you have no much money, you can read the finance article in the website or blog.
What is your plan after graduating? You must need some money for your plan. Financial planning will guide you to reach your planning or goal. To reach the goal, you may save some money. You have to post or allocate the money for your plan to. Some people may have money than they can imagine. The asset increases over many times because they put the money in investment.
This science also tells you that you have save some dollar for your pension. Yes, you are still young but you have to think your future.  Apportion penny by penny for your old time and you will have the benefit of it.
He financial planning also help you to manage your money well. You can allocate the salary to various expenses such as food, cloth, gadget, leisure and other. It help you to limit your expense. 
4. Create emergency fund
Supposedly a student provide he emergency fund. Sometimes we should spend money for buying a book or make a project. A nice sudden know that he should provide emergency fund.
A newly graduated must need much money too. For example, they must to go to the office for an interview. Sometimes, the office is far from the house. They should buy a flight ticket which is not cheap for it. They can use the emergency fund to buy the ticket. The situation can worse when you have no money. You cannot buy the ticket and you cannot go to the office for an interview. As consequently, you will not enter the company.
When you still have no jobs, the fund can also help you to buy food and cloth. You can also pay the apartment fee. Remember, the emergency fund is limited, so you have to make money before your emergency fund deplete.
5. Do not buy a car
A new graduated does not need a car. The cost of having car included service, gasoline, and oil is so high. Your salary may be not enough for that. You are better to save your money for other post such as education. You may have interest to continue to master degree. The master degree graduate can get better and higher salary than undergraduate.
You can buy the car when you have so much money. Do not ask your parent to buy car and pay the cost.
6. Retirement fund
Most young man or newly graduated do not think retirement fund because they think they are young. They need so much money topsoil them self and they think retirement when they become older. Retirement fund is not the old man business but also young man business too. The young can gather more money than the old man can do. The sooner they invest at retirement fund, the bigger they receive the retirement fund later.
If you are businessman, you can earmark the business profit for retirement fund. Some retirement fund is flexible and have credit facilities so we  can borrow the money from it to enlarge our business.

How to organizes Finances
The Benefit of Recession
Financial Planning for 30's

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