College students are challenged to complete a tremendous amount of course work and studying in addition to preparing for life after college. While it is essential for students to begin preparing for post-college life, many students fail to properly establish themselves before entering the "real world."
I have compiled a list of tips/information regarding post-college life preparation.
Begin building your credit
It is NOT too soon to begin establishing your credit. Your credit score can affect the amount of interest you pay on your student loans. Not only do landlords view your credit score, but employers are also allowed to review your score and report. It is crucial to begin PROPERLY using a credit card while in college in order to build your credit score to reduce student loan interest rates, ensure you will be able to purchase/take out a loan for a car based on your credit history, and rent the apartment of your choice without an additional security deposit.
Save when you can
Building your savings account is incredibly difficult while in college, but it is crucial to contribute a portion of your income to a savings account. As an athlete, it is challenging to work, attend class, complete course work, and participate in sports, however, it is possible to work during the off-season or summer. Depending on your college payment plan and other expenses, the percent of your income you place in your savings will vary. Building your savings account is an obvious preparation mechanism for post college life.
Discover how much you owe in student loans
FAFSA provides a loan calculator to give students an estimated amount owed. Depending on the loan type, the loan payment start dates vary as well as the amount of interest. It is important to understand the total amount of student loans owed, when you must begin paying them, and the possible payment methods available in order to prepare for the great expense. Without preparation and a clear understanding of your student loans, you will be subjected to serious consequences.
Be open-minded about moving
The listed information relates as it affects your financial stability to move. With some financial security, moving to a new location in order to begin your career is worth building your savings and establishing good credit. While moving is uncomfortable and lonely, it is rewarding to know you have established yourself through hard work and acting independently.
Get involved
There are few class assignments and projects that teach social skills as well as participating in community service, athletics, or clubs. Through involvement at school and in the community, you will discover your interests, how to interact in a variety of situations, learn to build relationships with individuals of all backgrounds and ages, and develop your communication skills. In addition to the social aspect of being involved, it is also important to learn how to manage a busy schedule. Time management goes beyond school, friends, sports, and work; it is essential to build time into your schedule to exercise, relax, serve your community, and join clubs/organizations that are of your interest. As you age, your life will be filled with career opportunities, family, relationships, traveling, and stabilizing your finances.
Learn how to appropriately and professionally negotiate salary
A multitude of individuals will describe salary negotiation as a pushy strategy that will only discourage an employer from hiring you. Salary negotiation can be an appropriate and professional mechanism to receive a higher pay. Some employers anticipate salary negotiation and are willing to increase pay upon discussion. If an employer wants you to work for them, a polite salary negotiation will not discourage them from hiring you even if their answer is no. A negotiation could showcase your communication skills, confidence, and assertiveness.
Practice being outside of your comfort zone
By taking opportunities that are overwhelming and challenging, you are preparing yourself for your future. Especially in your career, you will be forced outside of your comfort zone. In order to grow in every aspect of life, you must be challenged. Do not settle for something average simply because the path to higher achievement is uncomfortable.
