5 Things To Do As A New College Graduate
Congratulations on graduating college and entering the real world! Either you have been anxiously awaiting this day or dreading. Ready or not, here you are!
When I graduated from Clemson University in 2016 I couldn’t wait to finally be done with school and start my career. I figured life on the other side was going to be so glamorous and there was no way mistakes could be made. Boy I was wrong!
So I put together this list of things I wish I did differently as a 22 year old new college graduate just starting out in their career, so you don’t have to make the same mistakes I did!!
1. Find out your new employers benefits.
A salary is not the only thing you get with most 9-5 jobs. A major perk that should be weighed in when making a decision to join a company are their benefits; this typically consists of a 401k retirement plan, health insurance, vacation time, and life insurance.
Be sure to ask your employer for detailed information on these items. Ask questions like “do you offer a 401k match”, “how much vacation time do you offer and at what tenure do I earn more”, and “does the health insurance offer a gym membership reimbursement”. I missed out on a decent amount of wealth building because I didn’t understand or take full advantage of the benefits I was offered.
2. Track your spending!
Going from earning next to no money to tens of thousands of dollars a year feels super exciting. A lot of people feel like they can now afford anything they want and its easy to just watch all of that money fly out of your bank account.
Track all of your expenses so you know how much you’re actually spending each month. I talk more about this here and this is spreadsheet I use to track my expenses. This will give you a baseline to establish a realistic budget for yourself. I spent my college years trying and failing to stick to a budget because I had no idea what my actual monthly expenses were. I would try so hard, and then just burn out and give up before the end of the month.
3. Tap into old or new hobbies.
You’ll find that once you leave the structure of college and start working the first few months that life might seem monotonous. Find something you can look forward to and work on after work and on the weekends. Maybe that’s reading, starting an Etsy shop, growing an Instagram account, photography or exercising. Just find something to do other than going home, popping open a bottle of wine, watching Netflix and wasting away. It’s so easy to fall into this trap and before you know it months have gone by and you’ve accomplished nothing.
4. Start saving at least 10% of your take home pay.
Start by building up a 3-6 month emergency fund (to cover your monthly expenses). Simultaneously, be sure to opt into your employer’s retirement plan that they offer and contribute up to the company match (free money!!!). I say save at least 10%, but aim to save as much as possible! You’re use to living that broke college life. Continue to live below your means while affording yourself a little bit of a lifestyle upgrade.
5. Continue to be a student.
Just because class is out doesn’t mean the learning should stop. If we’re not growing we’re dying. Continue to learn new skills and progress in the ones you already have. Find a few things you’re passionate about and keep pursuing information. Do this through podcasts, books and even social media accounts. Learning should be a life long practice!
