The gamecock. (Columbia, S.C.) 1908-2006, April 22, 1992, 1992 Graduation Tab, Page 7, Image 15
1992 Graduation Tab
Managin
From Staff Reports
With an overloaded schedule of
classes, social events and work,
you've probably pushed aside the
one thing you need to manage
most: your money.
If you hope to achieve the goals
you have set for yourself after graduation,
you need to start thinking
now about your financial future.
"Many young adults graduate
from college with a large amount
of debt and an unrealistic outlook
toward money," Max Haynes, former
executive director of the Association
of Collegiate Entrepreneurs
and the leader of Citibank MasterCard
and Visa's "Money Matters
for College Students" program,
said.
"Whether you've chosen a field
that offers high income potential,
or one with a lower entry-level salary,
the challenge is the same: how
to manage the money you have in
order to get what you want out of
life."
To help prepare for the new financial
responsibilities you'll encounter
after graduation, Haynes
has developed the following six
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simple steps to help you take
charge of your financial future:
Set your financial goals. Determine
what's important to you by
making a list of things you want to
accomplish over the next few
years. Where do you want to live?
Do you want to travel abroad?
Maybe you want a new car. Whatever
your desires are, it's important
to develop a realistic timetable
for achieving these goals, based on
your available financial resources.
Take control with a spending
plan. The first step in managing
money is knowing what you've got
and where it's going. Tabulate
fixed expenses you'll face each
month, like rent, food and transportation.
If you've received student
loans, don't forget to include
your payments as a fixed expense.,
Most student loans require you to
begin making payments six months
after graduation. So, be prepared.
Next, set a dollar limit for your<
miscellaneous expenses, like enter- j
tainment and travel ? those nonnecessities
that can really add up.
Because most entry level jobs pay
very little, it's important to stick to
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FRIDAY, APRIL 24
7:00 PM
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your limit on these items. Total
your fixed and miscellaneous expenses
and compare them against
what you plan to earn. If your expenses
will be greater than your
income allows, decide whether you
can cut costs and adjust your
enAnHinn
Start your personal endowment.
Your college has an endowment,
and so should you. Set aside
a certaim amount of money from
each paycheck to go into a special
account for your long-term goals,
special purchases and as a buffer
for emergencies. Make funding
you personal endowment a regular
part of your monthly budget by
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Aerobic Classes 43
per week <
* Senior Citizens |
(Easy Does It)
* klinh ImnoM
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* Low Impact
* "The Step"
Swimming Pool
Personalized Exercise
programs for men
& women
4502 Forest Drive
h Columbia, SC
OPEN 7 DAYS
A WEEK
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considering it a fixed expense. Re- cri
member, even small amounts of afc
money saved on a regular basis fu
add up quickly.
Establish good credit. You
need to establish credit, but you cr<
need to use it wisely. Start by app- iss
lying for a department store or gas dei
station charge card. As you charge fre
purchases and make timely pay- lo:
ments, you will begin building a ^
healthy record of how you handle ^ei
credit. After you've demonstrated
you can handle these cards responsibly,
apply for a major credit
card. Pay your bills on time. Re- ily
member, your record of bill paying Mi
forms the basis of your personal dii
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. 7
e easier
sdit history, and will affect your
lility to obtain credit in the
ture.
A free booklet about responsible
idit use and other financial
ues of concern to college stunt
is available by calling tolle
j(800) 669-2635 or by writing
Citibank MasterCard and Visa
loney Matters for College Stunts,"
301 East 57th Street ?
0 A, New York, N.Y. 10022.
This article is courtesy of Marmne
Herbert of the Citibank
isterCard and Visa College Me2
Program.
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> Well educated &
professional staff
Saunas
Whirlpools
Suntanning Beds
Indoor Jogging Track
Lounge Area
Pro & Snack shop
Free Child-care
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