Infomediaku.net | 4 Financial Mistakes Fresh Graduates Must Avoid
Managing finances is quite complicated for everyone because the necessities of life are getting more expensive. No wonder everyone is working hard to meet all of these needs.
New graduates also have their own needs. Therefore, it is not surprising that new graduates who are just starting to work will feel a change in lifestyle. Back in college, maybe they still got money from their parents.
After becoming an employee who has earned his own income to be able to make ends meet, there are things that go unnoticed and are not unexpected. It is undeniable that new graduates often make mistakes in managing finances. Especially if you don’t try to learn any more about the science of managing personal finances.
Talking about the mistakes of fresh graduates in managing finances, there are several reasons why new graduates make mistakes like this. One of them is the condition of having your own income earlier.
With your own income, you can buy all the things you want. Therefore, as if there is no more control, spending will be wasteful. Especially if life changes, for example moving to a big city.
Fresh Graduate Financial Errors, What Are They?
The consumptive lifestyle is coupled with culinary hobbies. Of course, the money from the salary is used to buy food from outside.
To avoid this waste, you must know some of the mistakes that are often made by new graduates in managing their income.
Below are 4 Financial Mistakes Fresh Graduates Must Avoid.
1. Have No Savings
The first mistake that quite a lot of new graduates make in managing finances is not having savings. Basically, this kind of condition can be caused by a lifestyle that previously was a student, now a worker who has an income.
Taking into account that when he was a student, all needs were borne by the parents, so that whatever is given will always be used, it’s different from now.
Because you have your own money, you feel freer to use it. As a result, at the end of the month, you can only bite your fingers.
2. Still Too Wasteful
The extravagant life is also one of the reasons why new graduates are wrong in managing finances. New graduates who now have a salary, often have a consumptive lifestyle, tend to have higher tastes than when they were students.
Moreover, when he was a student, he was wasteful. Often this salary is used up just to eat or buy various things that are not important in a short time.
3. It is not Wise to Use a Credit Card
Having your own income means that you can meet the initial requirements to be able to create and use a credit card. However, there is a problem that can be considered quite fatal. This means that you often don’t know how to use your credit card wisely.
In fact, sometimes the number of credit loans has exceeded your ability to pay. And that’s certainly not a good condition for an employee, especially a recent graduate. It would be much better if you want to make and use credit cards, try wisely and not too much.
4. Not Investing
Apart from the mistakes above, another mistake is not making an investment. This is often neglected by recent graduates. Feeling young and still actively earning money, so that he doesn’t need investment. This mindset is clearly wrong, even if you are young and you still have fun working, you should invest as much as possible. So that in the future it will be more prosperous.
Because basically investment is a process to increase the value of wealth owned in the future. It is not easy and requires persistence and strong will. A fresh graduate who just came to work generally doesn’t want to invest because he still wants to have fun.
There are many investments that can be tried, for example, gold, stocks, or others. For those of you who are active and interested in learning to find investment opportunities in the foreign exchange market (forex), becoming a forex trader can also be a way to make profitable investments.
By taking advantage of the time while still being eager to find money to invest, one day, of course, in old age life will be more secure. And then just enjoy the results of your hard work when you are not working anymore. In addition, investing will help you better manage your finances.
So, if you are a new graduate, learn from the fresh graduates financial mistakes above and make improvements if you have or are currently experiencing them. You have to be smart in managing finances because as long as you are single and there is no bigger responsibility like starting your own family, this is the right moment to build the foundation.