Comments on: Personal Finance 101? http://gotdebt.wordpress.com/2008/03/11/personal-finance-101/ My student debt story and information for others Tue, 15 Apr 2008 16:45:36 +0000 http://wordpress.com/ hourly 1 By: emilymcallen http://gotdebt.wordpress.com/2008/03/11/personal-finance-101/#comment-45 emilymcallen Sat, 15 Mar 2008 23:57:22 +0000 http://gotdebt.wordpress.com/?p=19#comment-45 Thanks for the comment. I (and my personal finance professor) agree with your advice for all of us, but it's unfortunate more people aren't exposed to it and that it can be quite difficult to follow when juggling loan and credit card payments from college. Thanks for the comment. I (and my personal finance professor) agree with your advice for all of us, but it’s unfortunate more people aren’t exposed to it and that it can be quite difficult to follow when juggling loan and credit card payments from college.

]]> By: Paul Petillo http://gotdebt.wordpress.com/2008/03/11/personal-finance-101/#comment-40 Paul Petillo Wed, 12 Mar 2008 16:08:23 +0000 http://gotdebt.wordpress.com/?p=19#comment-40 More apt would be a class on how to pick a career that would help you recover your tuition costs AND plan for retirement. But that would expose students to the high cost of an education that does not always translate into adequate income compensation, often for years. The best advice is to pursue your after college career while living low. Which is harder than you might think. That first paycheck is your first taste of financial freedom and you are more than likely to spend it - after years of living on tuna and beer - than save it. If you save only 5% of what you earn when you graduate, you will be far better off than someone who saves nothing. From then on, save a quarter to a half of every subsequent pay increase you receive and you should be fine. More apt would be a class on how to pick a career that would help you recover your tuition costs AND plan for retirement. But that would expose students to the high cost of an education that does not always translate into adequate income compensation, often for years.

The best advice is to pursue your after college career while living low. Which is harder than you might think. That first paycheck is your first taste of financial freedom and you are more than likely to spend it – after years of living on tuna and beer – than save it.

If you save only 5% of what you earn when you graduate, you will be far better off than someone who saves nothing. From then on, save a quarter to a half of every subsequent pay increase you receive and you should be fine.

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