Paying the Bills

From Career Resources @ Simmons

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As a college student, you have probably already received an introduction to financial matters from paying for tuition, meal plans, residence fees, etc . . . However, there is more to consider in your financial world when you start earning a full-time income. Your finances are one area where you don't want any surprises. You may face some difficulty and confusion at first. Here we point you to some resources that will help you get started and help you realize that managing your finances is actually very helpful and not very difficult.

1 Finances in the Real World
2 Dealing with Credit Cards
3 Budgeting
4 Long-Term Financial Planning
5 Financial Counseling
6 Helpful Books Available in the CRL
7 Surviving the Real World Guide

Finances in the Real World

Graduates Face First Financial Decisions
NPR commentator and Washington Post writer Michelle Singletary answers new graduates' most pressing financial questions about how to prioritize their finances, pay back their loans, and face many of the other hurdles unique to new college graduates.
http://www.washingtonpost.com/wp-dyn/content/article/2005/06/29/AR2005062902803.html

How to Blitz Your College Debts
Offered here are some strategies for dealing with one of the first financial hurdles you may encounter upon graduating from College.
http://articles.moneycentral.msn.com/CollegeAndFamily/MoneyInYour20s/HowToBlitzYourCollegeDebts.aspx

Money 101
This web site from CNN offers twenty-three lessons on setting priorities, making a budget, taxes, insurance, the basics of banking, savings, and investing, and other topics.
http://money.cnn.com/magazines/moneymag/money101/

Things I Wish I’d Been Told
This is an essay based off a popular lecture about taxes, living expenses, benefits, credit cards, stocks, and managing your career.
http://www.ir.bbn.com/~craig/things-i-wish.html

Top 10 Shocks for College Grads
This is an article from MSN's Money Central warning recent graduates about the new challenges they must face as a member of the real world, such as paying your own bills for the first time, and taking care of your student loans.
http://moneycentral.msn.com/content/CollegeandFamily/Moneyinyour20s/P85589.asp

Your 5-minute guide to money in your 20s
26 suggestions compiled by MSN Money staff for entering cold, cruel reality. A range of tips including the value of investing in proper attire for job interviews, and the importance of opening a bank account right away when relocating to a new city. You will also find links to other write-ups such as 'To get rich, start saving in your 20s'.
http://articles.moneycentral.msn.com/CollegeAndFamily/MoneyInYour20s/Your5MinuteGuideToMoneyInYour20s.aspx

Dealing with Credit Cards

FAQ on Students and Credit Cards
These questions and answers from Bankrate.com are geared toward college students who are new to credit cards, but also contains helpful information for people of all ages.
http://www.bankrate.com/brm/news/cc/20020815b.asp

Budgeting

One-Stop Budget Guide: Budgeting 101
This extensive About.com site gives you 12 good reasons to budget, plus information on getting motivated, starting out, sticking to a budget, and using budgeting tools.
http://financialplan.about.com/cs/budgeting/a/Budgeting101.htm

Personal Finance Budgeting
This sight has information about all money matters from getting out of debt to keeping to a budget without having to live on Ramen noodles.
http://www.personalfinancebudgeting.com/

Tips on Saving Money
From grocery shopping to doing your laundry, there is always a way to shave off a few dollars from your routine, and save a lot of money in the long-run. This article from the University of Arizona provides valuable tips for everyday saving.
http://cals.arizona.edu/fcs/clubs/cwc/resources/creditwisetips.htm

Long-Term Financial Planning

Savings Calculator
A neat tool from MSN.com. Choose between various calculations such as ‘How long will it take to reach my savings goal?’, and ‘How much must I contribute to my savings?’ From there, you will be prompted to input the value of the regular deposits you will make in these hypothetical scenarios, as well as the length of term, along with the interest rate. Here’s a result, just for fun: Starting with $1000 and depositing $7181 annually over 10 years (at a rate of return 9%, compounded monthly and taxed at a marginal rate of 28%), you will save $100,000!
http://moneycentral.msn.com/Investor/calcs/n_savapp/main.asp

Top 10 Post-Grad Money Mistakes
Whether you are earning $70,000 a year or $20,000, the fiscal choices you make immediately after college can help or hinder your chances of building a strong financial base for the rest of your life,” says William L. Anthes, Ph.D., president and CEO of the Colorado-based National Endowment for Financial Education. On this web site, he lists the ten most common financial mistakes that college graduates make, and how you can avoid them.
http://www.postcollegeknowledge.com/content/003%20Your%20Money/002%20Invest/005%20Investment%20Advice/

Centers for Financial Education
Would you rather take a financial planning class than read about it online? The Centers for Financial Education offer free and low-cost financial credit education seminars in many regions. Classes include "Identity Theft," "Predatory Lending," and "Women and Money."
http://www.crediteducation.org/index.php

Financial Counseling

Consumer Services Counseling Services
Use this web site to arrange for consumer or debt counseling, find loan counselors, order a credit report, create a spending plan, and more.
http://www.cccsatl.org/index.asp

Helpful Books Available in the CRL

Graduate! Everything you Need to Succeed after College
Kristen M Gustafson, 2002.
CRL New Graduates
Be sure to check out the chapters called "Understanding your Paycheck" and "Taxes and Insurance."

A Car, Some Cash, and a Place to Crash: the Only Post College Survival Guide You'll Ever Need
Rebecca Knight, 2003
CRL New Graduates
The "Money Matters" chapter of this book will be extremely helpful for organizing all your financial issues.