Many people imagine that college or university is their one-way ticket towards financial success. And it should be – you’re gaining qualifications that technically should put you ten steps ahead of your non-qualified peers in your particular job sector. Unfortunately, though, you may not be able to achieve your career goals as quickly as you’d hope once completing your education.
It’s thought that in the US, around 53% of college graduates are unemployed or working in a job that doesn’t require a bachelor’s degree at all, which is hardly the news you want to hear if your post-education plans involved diving headfirst into your preferred area of work. Luckily, even though some aspects of your future may be out of your hands, it’s still possible to financially succeed relatively quickly after moving on from college.
Here are some tips on how to land a job faster and better handle your finances once you’ve graduated:
Start a savings plan
Now that you’re not in full-time education anymore, you’re no longer supported by student funding. This will mean that you’ll have to get a savings plan set up so that you always have cash to fall back on if you ever find yourself in financial difficulty. Some banking apps allow you to automate cash from your current account to move into your savings account without you even being aware of the process, which is a great way to save without feeling the strain on your wallet.
Consider flat sharing
Only the extremely lucky few land their dream job after graduating from college, and this may mean that you’ll have to make do with a less enjoyable job for the time being – with a far less desirable wage. If you’re planning to live independently post-education, you might want to consider flat sharing with your friends or other acquaintances. This will give you a much smaller bill to worry about month-by-month while you find your feet.
Refinance your student loan
No matter what your financial position following your graduation from college, you might be interested in refinancing your student loan. A student loan refinance allows you to take out a new loan to pay off the existing one. This new loan might have new interest rates that you can benefit from, especially if your credit has improved since you agreed to the initial terms of your old loan. Take a look at Crediful’s picks for the best student loan refinance companies for more guidance.
Don’t be picky with employment
We get it – it’s really frustrating to feel like you have to resort to “second best” job alternatives rather than go straight into the career that actually interests you. Remember, though, that nothing’s stopping you from landing that dream job eventually, but your first priority is to ensure that you’re financially stable. Apply for jobs in all areas of employment, and attend every single interview you can. Once you’ve got a source of regular income, you’ll be able to approach your search for employment that more suits you with a far calmer and less impulsive mindset.