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Livable Living Expenses
Budgeting can reap many rewards if you know how to do it right.
Debt is another scary monster that many students right out of college have to face.
Packing a lunch isn't a bad idea either. "I bring my lunch to work only because, man, it's $2,000 a year if you don't. I figured it out. $2,000 a year!" Todd, another experience member, exclaims. "It's way too expensive. I was buying lunch for awhile, and I couldn't figure out where all my money was going."
Hold the Extras
It doesn't hurt to be frugal. Turning off lights when you're not using them, clipping coupons, and buying food on sale are all ways to make your paycheck stretch. And don't forget, matinees are only five bucks.
"I think you have to stay away from credit cards," Jenny Holm advises. "I didn't really have a credit card until I was out of college. Then, I got the American Express Card, which is a good card to have because you can't carry a balance. If I had had a card where I could carry a balance, I think I would have been in big trouble. You can go out, buy a new jacket for 200 bucks, and think you'll pay it off. But, at that point in your career, you're not bringing home a lot of money."
Student loans are another financial burden. They have low interest rates, but you'll be paying them off forever. After you graduate, you'll usually have six to nine months before they come due. If you're having trouble with your student loans, whatever you do, don't default. There are banks that will consolidate the loans for you so you can make one payment a month. Also, there are programs that allow you to pay only the interest due every month rather than the interest plus principle.
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