When I graduated in college, I tried so hard to look for a job immediately so I can have money on my own. I mean I have no more allowance to claim at school as a working scholar so there’s no way I could earn some, I have to have to dig to earn.
But some graduates only look for a job so they could have the latest gadgets, latest craze which the price is so enormous. A possibility to heavily in debt is also a great risk. Oh well, they surely look good but it could take years for them to pay those bills. So as a mother we should look closely to their expenses so they will not be in so much debt in the end, they are fresh to see the real world and somehow they need our expertise.
Here are some points to help them:
Your fresh graduate should know to strike a balance between money coming in and how much would it come out from the wallet. Teach him to take note of his expenses for him to know where his money is going. Just get a taxi if he is running late but would it be wiser if he could wake up early to catch a bus.
He should know how to budget his money from food, transportation, communication, clothing and leisure. The secret is to set priorities, spend the money within his means and stick to it. It is okay to go out as long as all his expenses is tallied and he has more money coming in to his wallet, then he is still on the right road.
There’s no room for impulse buying, it is alright to own a credit card as long as you know how to handle your expenses when using it. Or if you can’t maybe it is better to use it for next year. In short, if you don’t have the cash to spend then maybe it is better not to have credit cards yet, because credit cards should only be used for emergency when you don’t have money on hand.