Good Morning Green Panda Friends.  Today we are discussing the future of our lives and the future of our finances.   As August rolls in some of us may be getting ready to start the next semester in our college lives, some of us may be starting the final Fall semester in our final year at college, and some of us may be getting ready for our first Fall in the full time working world.

I remember the first Fall when I started working full time, it was a bitter-sweet experience.  I was happy to be working and earning a full time income, but at the same time it was definitely weird not be on a college campus in September.  Regardless of where you are in your college career or in your professional career, new beginnings means that it is time to start making financial decisions about your future.

What are your financial priorities?

– Graduate From College.  Your main financial priority right now can be as simple as graduating from college.  Living on a student budget can be a drag and the prospect of earning a full time income can be very encouraging.  Graduating from college is a milestone in our lives and our graduation day is the first day of the rest of our lives.  As a recent college graduate you have an unlimited number of opportunities available, and several different options as to where you want your life to go.

– Find a Full Time Job.  Your current financial priority may be to find a full time job.  If you are used to living on a student budget you may be very excited at the idea of having a full time income.   It is a good idea to start looking for a full time job during the last semester of college because it gives you time to find the perfect job.  Don’t be discouraged if you don’t get call backs from every job where you apply, be consistent and keep applying, the right job will come your way.

– Start Paying Off Your Debt.  If you are a recent college graduate your main financial priority may be to start paying off your debt.  Student loans are usually able to be paid back over several years, but if you can afford to pay back an extra $25 or $50 per month you can save a small fortune on interest charges and pay off your student loans much faster.

– Start Saving for Your Goals.  If you have been in the full time work force for a few months the initial shock of earning a full time income can be wearing off.  After the excitement of having financial freedom from having a full time job wears off, it’s time to start being realistic about your new found income.  Learning to live on a budget and saving for our personal financial goals.  Some of us may want to pay off debt, some of us may want to start saving for a down payment on a home, and some of us may want to start saving for retirement.  The key to a successful savings plan is to set financial priorities and continue saving on a regular basis for all of our personal financial goals.

 

Photo by Zonie