After College: Budgeting for Real Life

If you thought paying for college was a challenge, wait until you discover the joys of making ends meet on an entry level salary. While you may not find yourself to be financially comfortable for a few years, you can start off on the right foot by setting a budget as soon as you negotiate your salary of your first post-college job. Make sure that you sharpen your pencil (and get rid of all luxuries) if you find that you won’t have any fun money left after meeting your obligations. The next steps are below:

Get Out Of Debt Once And For All

If you are drowning with debt and wish to return to your life and be free again, here’s a method you can use to get yourself out of debt. It’s not a quick solution, but when used effectively, it could get your debt paid off without borrowing additional money. It’s known as the “debt snowball” method popularized by Dave Ramsey. Basically, what you do is line up all of your debts and pay back the tiniest balance first. When you pay that one off you begin the next lowest balance. The method works because of psychology. Once you’ve payed off one debt, you’ll feel like you have accomplished something and it’ll have a snowball effect. So here are the steps: