Financial to-Do List for Graduating College Seniors (MarketWatch)

<p>It is imperative for new college graduates heading into a shaky economy to have a grasp on smart money management. Find some recommendations below:</p>

<p>Financial</a> to-Do List for Graduating College Seniors - MarketWatch</p>

<p>It is never too early to teach smart money management (budgeting, saving, investing, etc). Don't wait until college graduation. Even young kids can start learning. Life skills are just as important as academic skills.</p>

<p>^Are you implying that if you give a college kid a debit card he's just gonna go around using it? Come on, they know the basics to get through college without screwing themselves over. Yes, they <know>; not necessarily means that they won't <do> them anyway. </do></know></p>

<p>I don't think it's too late to teach after college grad.</p>

<p>I don't think I said anywhere in my post that it is too late to a teach after college grad. What I said was why not start teaching such skills earlier.</p>

<p>A college kid with a debit card knowing the basics getting through college is not "smart money management".</p>

<p>My high school children already know about budgeting, spending, loans, interest, have savings and investment accounts including knowing things like what ETFs are. They understand the long term cumulative affects of savings/investments and the long term risks of taking on debt.</p>

<p>You will be at an advantage if you start early, think long term and compound.</p>

<p>Most graduating seniors couldn't tell you the difference between a bond and a stock.</p>


Most graduating seniors couldn't tell you the difference between a bond and a stock.


<p>That's a terrible but solvable problem, if true.</p>

<p>I know that Gold Bond is for your feet and not your portfolio. What other wisdom do you have for me?</p>

<p>What would you like to know?</p>

<p>Most young employees don't know the difference between term life insurance and whole life insurance. Most parents don't know the difference between Plus Loan and Stafford Loan untils they borrow.</p>

<p>To me there are lots of things in life to learn, but money is not on the high priority list.</p>

<p>Nobody needs to know the difference between Whole and Term life insurance until they need to buy it anyway(i.e. when they have kids or a housewife or whatever)...which for most people should be well after they get out of college.</p>

<p>That's just an ad for Sallie Mae with some pretty basic advice. I think this site is more useful:</p>

<p>Bargaineering 2010 New Graduate Guide</p>

<p>Yeah, I followed the link and it was about loans and handling your loans and keeping track of your loans. It implies that students who don't have loans don't have anything to do. Honestly, I think I worry more about my son <em>because</em> he has had everything paid for and hasn't had to manage more than a little spending money. I don't know that he's been gaining many advanced financial skills in college. </p>

<p>I suppose there's always grad school.</p>

<li>Only take out loans if you expect the return to be more than P&I;</li>
<li>In general, never spend more than you make;</li>
<li>Save 10 - 20% of your paycheck; some people like to say "pay yourself first."</li>
<li>Diversify your savings;</li>
<li>If it sounds too good to be true, it probably is;</li>
<li>Don't miss a tax break; learn to do your own taxes;</li>
<li>Simple DIY should be done by you. Car maintenance and plumbing come to mind.</li>
<li>If you REALLY want something today, see how you feel about it next week.</li>