Advice for Recent College Graduates

The Bargaineering.com blogger offers tips on how to be a smart saver and spender.

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Congratulations, new college graduates – you’re done with school, at least for the moment. You’ve probably packed up your dorm room, listened to some inspiring speeches, and sent your resume out into the working world. And unless you’re the lucky recipient of a trust fund, you probably have some concerns about paying your bills in the coming months and years.

That’s why now is also a good time to think about how to manage your money, in between emotional goodbyes to your roommates. Jim Wang, 29-year-old founder of the personal finance site www.bargaineering.com, has written an online guide to help you. He starts by describing how to build a solid financial foundation with credit cards, savings accounts, and even retirement accounts. He also covers how to choose health insurance coverage and your first apartment. Later this week, he’ll help you understand why so much of your paycheck is going to the IRS.

Here’s a snippet:

When you start working, your employer may offer you the opportunity to contribute to your retirement through a 401(k… They will entice you to do this by offering some sort of matching offer, say 50 cents for every dollar you contribute up to 6% of your salary. You will not find a better deal in the entire world, I guarantee it.

It’s impossible to predict where the stock market will be in a month, a year, or even five years… but in the course of forty years it will surely go up. It’s the classic case of the tortoise and the hare, just be the tortoise and contribute a small percentage of your salary and you will be richly rewarded in retirement.

See Bargaineering’s complete guide here.