“The Importance of Personal Finance for College Students - Associated Content” plus 1 more |
| The Importance of Personal Finance for College Students - Associated Content Posted: 09 Feb 2011 09:30 AM PST The importance of learning personal finance during college cannot be stressed enough. It would be far better if it were a mandatory class for all high school students, however if The Benefits of Personal Finance for College Students When it comes to personal finance issues many college students rely on their parents or other family members to help while others wing it and wind up spending their student loans up right away. It is important, when first starting college, to begin to understand how to manage money. For instance, a portion of the student loans and monetary gifts should be invested. They can then be used to help pay back part of the student loans when the student exits college. Further, it is also important that the student understands the six golden rules about personal finance. 1. They should save a portion of all they earn and invest it, starting with any part time jobs, any monetary gifts, and their student loan checks. 2. They need to stay up to date about the current economic cycle as this pertains to the best times to borrow money (when interest is low) and the best time to invest or reinvest money (when interest rates are high). 3. They need to understand that payoffs of choosing one opportunity over another and their own financial net worth especially when making financial decisions such as frivolous purchases and taking part time jobs. 4. They need to learn how to make financial goals, realistic plans, and weather set backs. 5. They should take advantage of tax-sheltered investments while still young through employer benefit programs including 401k's. 6. Develop key financial expertise when it comes to earning, spending, investing, and understanding the financial climate. And heed their own advice. This entry passed through the Full-Text RSS service — if this is your content and you're reading it on someone else's site, please read our FAQ page at fivefilters.org/content-only/faq.php |
| Personal Finance: Get coffee, hit the gym to job-seek - Philadelphia Daily News Posted: 30 Jan 2011 09:23 PM PST Posted on Sun, Jan. 30, 2011 Matthew Krzus and his friends graduated from college in May, and most of them are struggling to get jobs. "Even though we've come close, there's always something," he said. One friend, who swears he has behaved identically in all interviews, was called "too intense" in one and too laid-back in another. Krzus has been in third-round interviews that seemed like done deals, focusing on salary and start dates. Then came disappointment. In one case, he received a call saying that the vice president's niece needed the job, and in another was told that the company could hire only one person and needed to weave an entry-level job with a higher-level position. "We joke that we need to know the magic formula for what to say," he said. His comment is universal, spoken by job seekers young and old as they navigate one of the most competitive job markets in decades. It is why people must be creative and stretch beyond the usual advice about resumés, dress, handshakes, and smiles. A key is to enlarge your job search. Go to the coffee shop or the gym. Because employers have not had enough employees for three years, managers are desperate to get work done. So bring a solution directly to them and not through human resources, said Jeffrey G. Allen, author of Instant Interviews: 101 Ways to Get the Best Job of Your Life. Go to a Starbucks or gym, for example, in a neighborhood where managers live and start conversations, asking managers about their businesses, listening for their needs, and offering solutions, Allen said. If you have a specific company or job in mind, try parking lots in office parks and warehouse districts. Hang out at conference hotels and choose seats on trains and in airports next to people with laptops. Bypass HR. Allen's basic premise from his days in human resources: People in HR do not know the job, the need, or whether you fit, so you have to get to the decision-maker. Ask a contact on online-networking site LinkedIn to pass your resumé to a specific individual and aim for an introduction in a specific department. Or go hear a manager speak, exchange cards, and follow up with a comment on the topic. Browse online for research, not applications. Beware of too much time on the Internet, said Eliminated! Now What? author Jean Baur. Instead of applying for jobs alongside hundreds, use the Web for research so that you know the company and manager and where you might fit in. Learn industry buzzwords and hot buttons and use them in resumés and interviews. Follow the news. In community newspapers or trade publications, look for these topics, because they suggest a need for new hires: A promotion or retirement, or a business relocating, acquiring a site or other business, expanding, or getting a new contract. Get discovered. To stay visible while looking for work, consider volunteering in an area that might provide contacts or experience. Also speak, write articles, or teach a class, maybe through adult education or a university-extension service. Ask people about their businesses and talk about solutions you might provide companies or organizations. Ask for referrals to firms or people. Turned down for a job? If you get turned down, ask about needs (and introductions) elsewhere in the company and industry. "Turn this into networking," Baur said. Get a contract. After years of cost-cutting, many companies have projects they need to get done and find it safer to offer contract jobs than make permanent hires. So Baur suggests looking for projects when networking, and notes that experience can lead to a job. Carrie Shea, chief executive officer of Griffin Strategic Advisors L.L.C., said senior managers were valuable in projects. Gail MarksJarvis is a personal-finance columnist for the Chicago Tribune. E-mail her at gmarksjarvis@tribune.com.
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