Learn to pay yourself first!According to CNN Money,
Learn to pay yourself first!According to CNN Money, college graduates of 2005 are being paid more in starting salaries than the class of 2003-2004. Santucci adds.If you are going into a career that coincides with your college major, you may want to consider starting with an entry level position rather [...] ?When recent college graduates get their first job, they see their co-workers with brand new cars, so they think they should get one also, not knowing the co-workers experience and salary,? Having the feeling of fewer bills can provide you more freedom for going out and buying an expensive car, stereo or designer clothes. If a 25-year-old who invests $2,000 a year at a 6 percent compound interest annually for fifteen years and never invests another dollar, after the age of 40, the 25-year-old will earn more by the age of 65 than a 35-year-old who invests $2,000 a year at 6 percent compound interest annually for 30 years, even though the 35-year-old would have invested twice as long.Last but not least, it is important to identify a short, medium and long-term goal for yourself. Depending on what your entry-level job pays; it would be wise to spend accordingly with your available income. Pete Glocker can be reached by email at pete@dmcccorp.org A short-term goal may be a new car, a vacation or a television.
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