For the thousands of freshmen that enter college each year, the journey can be scary at times. Those already in their second and third year may have already learned many important lessons. For some, the experience of leaving home for the first time is exciting. However, with more freedom comes greater responsibility during these times. It is vital to keep a sharp focus and a sense of direction during college. Many that lose focus may panic as they approach senior year and the inner clock starts winding down. Others may reach out to fellow students only to find that their advice may also be limited. I’ve put together a list of five things that all new and current students may use as guidance before graduation in preparation for the future.
1. Get a credit card.
Okay, let’s be honest; you’ll want one! It is important to start building credit as early as possible, and there is no better time to start than during college. However, a credit card is not a toy where you get free money! You’ll have to pay it back. Therefore, it’s vital that you don’t spend what you can’t pay. Furthermore, if a friend ever asks you to borrow your card or buy them a product and they’ll pay you back, simply say no. Don’t exceed your limit at any cost while using your card.
Recommendation: Discover Student Card.
2. Manage money well.
Learn to buy value! Limit unnecessary spending! Save more! Many things you’ll find cool while in college eventually go out of style, and that includes clothing and electronics. Buying products that’ll grow with you during periods after college can save big in the long run. Not to mention, you’ll have pieces that will have stories behind them of places you traveled to and people you met. Learn about investments and basic accounting, even if they aren’t your majors!
Recommendation: Ask a professor to sit in on a finance class the whole semester.
3. Do internships.
While in college, it’s key to begin gaining experience at companies that can help you build your resume. In addition, you may also find out what interests you and what doesn’t by doing a variety of different internships. By seeing the school advisers, you can learn more about internship opportunities on and off campus. Future prospective employers look at a student's college activity for different reasons, but many like to see professional activity.
Recommendation: Do at least three or four three month long internships before graduating.
4. Socialize.
College [in theory] is supposed to be some of the best years of your life. Many of the people you’ll meet may turn into your best work-related network. It is important to meet different people outside of your comfort zone to learn different cultures and how different people may view the world. In addition, socializing gives you the opportunity to reach out when you are struggling with a subject.
Recommendation: Join a club or write for the school paper.
5. Limit student loans.
The price of college is ridiculous, yes, but it is crucial to limit the amount of debt one incurs. Large amounts of debt can affect a person in the short and long term of their lives by limiting what they can purchase, as well as affecting their ability to save. Try to guesstimate what your future income will be and limit loans to at least 15 percent of your monthly income.
Recommendation: Keep student loan below 10 percent of your future income.
“Some people get an education without going to college. The rest get it after they get out.” - Mark Twain
