Advice for graduates WITHOUT debt?
I'm 21/female. Next year, I'll be graduating school with no student debt, a couple thousand dollars in my bank account, and a job with an annual wage of $40k or higher. I've looked on google for advice for people like myself, who will be graduating without debt, but I only found advice for people who are graduating WITH debt.
If you were in my shoes, what would you suggest I do upon graduating? Thanks in advance.
- BLv 76 years agoFavorite Answer
First, out of every check, rain or shine, pay yourself first, say 10% into an investment account which you will not touch for a year or so, open it up at Fidelity or Schwab or TD Ameritrade. Start buying blue chip stock which pay a dividend and get the dividends on reinvestment. Next, be sure to participate in your firm's 401k plan to the full extent you can, to get any % they will kick in for you. Finally, do not over extend yourself, rent should not be more than 30% of your TAKE HOME pay.And don't fail to pay off your bills every month.
- rpf5Lv 76 years ago
Pat yourself on the back. You really don't "HAVE" to do anything. At best, use the savings for your next life goal, be it a trip, a car, an apartment, whatever. Whats the rush, you earned a chance to stop & enjoy now before you commit to the next phase of things.