FOLLOW A NEW BUDGET. Creating a transition budget is good, following a new budget is brilliant. Having a plan for your money as you transition to life after UNT can help keep you on track with your priorities, goals, and obligations.
MATCH EXPECTATIONS WITH REALITY. Without a budget or plan, most graduates hit a WTF moment after they see the net pay (after taxes and other contributions) of their first paycheck in comparison to their cost of living expenses. Understand the realistic take-home-pay expectation of your paycheck and make strategic decisions to live within your means. For example, most student loan borrowers believe they will repay their loans back within a year or two after graduating. The reality is that most student loan borrowers with a national average of student loan debt ($30,000) will take about 20 years to pay off the debt.
ALIGN LIVING COSTS WITH STARTING SALARY. As you begin to consider a job offer, remember to revisit and revise your budget to ensure it includes all the incidental living expenses and financial obligations you may not have had to previously consider. Cost of living expenses can vary greater within the same city, state, and region. Not to mention the vast differences that exist across states and the country. Research and understand the cost of living projections for where you will be living should you accept the job offer. The jubilation of accepting an offer can quickly burst into flames when cost of living expenses start building up.
VISIT THE SMMC IF NEEDED. The SMMC was created to be a resource to both current students and alumni. We will be here to help students as they transition into lives as successful graduates. Most importantly, we are here today to help prepare students for tomorrow. The SMMC was never intended to be the best kept secret on campus.
WISHING ALL GRADUATES THE BRIGHTEST OF FUTURES FILLED WITH PERSONAL SATISFACTION AND FINANCIAL SECURITY!!