Financial Planning Tips for New College Grads

So you’ve finally completed your college education and are ready to say goodbye to the term papers, terror professors, and sleepless nights that plagued you for the past few years. Congratulations! Now it’s time to face the real world and choose a career.

So how do you start planning your future? Your first step would be to gain control of your personal finances. This takes top priority because it is every bit as crucial as what you will end up doing for the rest of your professional life. Fox Business.com recently published the following tips for creating a post-college financial plan:

“Grads need to learn the discipline of setting aside money and living below their means from the start. People who are financially secure did this. Most of the time people are in financial problems of their own creation,” says [Scott] Hanson, [senior partner of the Hanson McClain Group].

For college graduates gearing up to enter the real world, experts offer the following tips on getting started on the right financial footing:

  • Find a Financial Mentor.
  • Plan to Live Off 70% of Your Income.
  • Learn the Difference Between Want vs. Need.
  • Stay Up-to-Date on Current Events.
  • Make a Student Loan Repayment Plan.
  • Establish Your Own Banking Footprint.
  • Know What Your Employer is offering.
  • Assess Your Insurance Needs.

Understand that you can never be too careful with the money you earn. So how can you be 100% sure that what you are earning is going to the right places? Now would be a good time to consult one of the many financial advisers and wealth management firms in DC and Maryland.

One of the most sought-after team of finance professionals today is Financial Brokerage Services. They provide a full suite of services for financial planning and wealth management in Maryland, DC, and Virginia. The company has been in the business for almost 30 years, serving business owners, executives, entrepreneurs, and individuals and in the process earning a reputation for true proficiency and integrity in finance. Give them a call and start getting your finances in order today!

(Article Excerpt from http://www.foxbusiness.com/personal-finance/2014/05/06/8-tips-for-creating-post-college-financial-plan/)