Your 5-minute Guide to Money in Your 20s
Via msn money:
A quick-start guide for new graduates looking for their first job and first place of their own. This article outlines important steps you need to follow to get on with that second all-important stage of your life…working. Their advice regarding your first job:
Once you land a job, you’ll breathe easier, but keep a few things in mind:
- You’ll probably earn more money than you’re accustomed to, but Uncle Sam will take a bigger bite, too. Don’t spend your first paycheck before you actually get it. (Get an idea of what your take-home pay will look like here.)
- Your tax return will become more involved as your salary and investments increase. Plan for deductions. (However, the costs you incur landing your first job aren’t deductible.)
- Remember that your career is your most valuable asset. Manage it better than any other investment.
There is also other helpful advice for people new to the working world, including budgeting, saving, and resisting the urge to spend you new-found wealth. We all know that feeling of the first real paycheck we ever got, our first urge is t o go and blow the whole thing since we never really had money like that before. The article urges us to cut back on luxury expenditures and the fact that it’s never too early to start saving. If you’re about to graduate and search for your first job, check out the article for tons of good advice and tips.
