With these as background, the following essay will provide insightful information that college graduates want to and need to know in order to be financially successful.
The goal of this essay is to point out the importance of financial planning for college graduates who are about to make vital financial decisions and to outline some essential aspects about personal financial planning for college graduates. Steps of Personal Financial Planning for College Graduates A starting point is determining one’s personal financial goals in a realistic manner in order to set the plan.
On a personal level, each of us makes individual decisions that affect us and the ones close to us.
As students, we are either benefited or adversely affected by mundane decisions such as what type of student loans to apply for, whether to opt for eating in expensive restaurants or settle for eating in the school canteen, whether to pay in cash or use credit cards, whether to take a taxi or take the bus or buy a bicycle instead, or after graduation, to rent the residence or to buy an apartment using bank credits. It behooves us to know more about finance and financial planning.
These goals are defined as those needs which have to be met up to 5 years.
Your long term goals could be to purchase a new house and these would have to be met after tenure of 5 years.
We make use of finance in a manner that almost borders on instinct, making everyday purchase decisions without much thought.
Finance impacts our lives without letting us know its details.
Additionally, the essay will delve into different aspects of carrying out the personal financial plan such as making a budget which serves to direct wise spending, managing credits which deals with smart borrowing, saving for the future which prepares graduates for emergencies and small extra funds and lastly, it will talk about smart investing which can bring about large wealth to college graduates who start out with little money.
This essay will provide insightful information for college graduates to be financially successful.