Personal Finance

Your personal finances are just as important as your career search. A budget allows you to manage money and focus on what is important. Remember needs and wants are entirely two different things. So, let’s take a look at some key areas.

If you are employed, pay yourself first.  Put a portion of your money aside for savings or emergency.  Even if the amount is small, make this a part of your personal finance regime. Over time, more money can be added to the fund and the money can be invested, but it is always smart to have cash on hand-your rainy day fund.

If renting. What can you reasonably afford? Do you really need a 2-3 bedroom apartment and you live by yourself? If you have a family, customize according to size and need.

We all need to eat. When buying food, use coupons, look for food specials and store brands.  Eating out can be expensive, so try to limit it to special occasions.

Transportation is a must.  Is reliable carpooling available in your area? If so, use it.  Bus and subway transportation are great options if they are available to you on a consistent basis. Purchasing a monthly bus/subway pass can save you money in the long run. For those who have cars, make sure it’s one you can afford. If not, considering downsizing.

As for entertainment, look for free and low cost events held in your city like festivals, concerts, movie nights and networking events. The networking event might lead you to your next career opportunity.

When you diligently handle your personal finances, you realize that everything isn’t a need. There will be opportunities to treat yourself without drawing in unnecessary debt. Take responsible steps today for a great tomorrow.