Comments on: 12-Step Financial Plan for Life After Graduation

By: Weekly Top Personal Finance Articles | The Frugal Toad

Weekly Top Personal Finance Articles | The Frugal Toad — Wed, 21 Sep 2011 01:55:36 +0000

[...] looks at financial planning for life after college with 12-Step Plan for Handling Money After College. Every soon to be college grad needs to read [...]

By: Paul @ The Frugal Toad

Paul @ The Frugal Toad — Sun, 11 Sep 2011 22:55:46 +0000

I like the idea of assigning one financial task per month. NIce and simple! Most people do not stick with a plan because it gets too complicated.

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By: Beth Oppenheim

Beth Oppenheim — Mon, 25 Jan 2010 21:08:41 +0000

I really needed this post when I was younger. I had this view of money in college that denial was a great principle to live by. I worked, but I really didn’t understand what it was all towards. Great post!

By: Damien (Bite Size Idea Guy)

Damien (Bite Size Idea Guy) — Mon, 25 Jan 2010 20:41:45 +0000

I’m graduating in April with a degree in Management Information Systems, and was lucky enough (after months of applications and only a few interviews) to find a full-time position before I graduate. The market is tight and competition between grads is high. My career counselor said that hiring in my field was down about 10% from normal. He also said that fields like finance were down 60%.

By: Damien (Bite Size Idea Guy)

Damien (Bite Size Idea Guy) — Mon, 25 Jan 2010 20:38:04 +0000

Great post, I like the idea of breaking personal finance goals into months, that makes recent grands (and young people in general) more prone to follow through. I would add two things:

(1) Month 3 could include saving for an emergency fund. That way, when an emergency comes up, the recent grad doesn’t have to put it on a credit card. You can learn more about emergency funds here: http://www.bitesizeidea.com/bsi/how-to-destroy-murphys-law-with-an-emergency-fund

(2) Month 4 could include a plan for debt repayment without consolidation. My favorite method is called the debt snowball. I have found it to be the best way, psychologically and dollar-wise, to quickly pay down debt. I explain it in detail here: http://www.bitesizeidea.com/bsi/how-to-snowball-debt-till-its-gone

Thanks again for the post, as I prepare to graduate college, it gives me a road map for my financial future.

By: Wojciech Kulicki

Wojciech Kulicki — Mon, 25 Jan 2010 20:07:30 +0000

I’d like to bring to everyone’s attention a book that Trent at The Simple Dollar reviewed last week. It takes a similar one-year approach to financial education:

Review: One Year to an Organized Financial Life
http://www.thesimpledollar.com/2010/01/24/review-one-year-to-an-organized-financial-life/

By: Wojciech Kulicki

Wojciech Kulicki — Mon, 25 Jan 2010 12:40:53 +0000

I think it depends on the industry. For example, construction/design (where I work), even if we WERE to re-hire, we would start with the talent we had to lay off first. So new grads coming out of school have been, and are going to be out of luck for the next few years.