So you’ve graduated college. 🎓 Don’t let anyone tell you adulting isn’t fun! Bills, debt, and responsibility are way more fun than hitting that beer bong at 7am on a Wednesday. At least, on Opposite Day. 🙃🍻
All adulting jokes aside, new grads have some anxiety brewing as they head out into the real world. 😵💫 And honestly, who could blame them?
Here’s Five Fast Facts on new grads’ money worries:
- 😰 Tossing and Turning - According to a recent WalletHub survey, the number one fear keeping new grads up at night is that they won’t be able to land a job (39%). The number two biggest fear was their student loan debt (35%), followed by a tie between having to live with their parents and credit card debt (13%).
- 💰 Cash Rules Everything Around Me - If you thought young people were all throwing in the towel on a “normal” life to become TikTok dancers, think again. The survey revealed that 46% of students said they’d put off pursuing their passions to make as much money as possible.
- 📑 Just the Facts, Ma’am - Ah yes, it turns out those complicated chemistry formulas and calculus equations aren’t practical real world skills. Who knew? Grads said they wished they learned more about these personal finance topics before hitting adulthood: how to do taxes (35%), how to create a budget (31%), and how credit scores work (15%).
- 👨👩👦👦 The Parent Trap - The survey also revealed that parents play a significant role in the students’ financial outlook. A parent’s debt reportedly had a negative impact on 54% of respondents. When it comes to financial attitudes, one in three students described their parents as “overly cautious.”
- 😎 No Regrets, That’s My Motto - Despite all the worries, most new grads wouldn’t change their choice to go to college. The majority of those surveyed (75%) say they don’t have any regrets and what they paid in tuition was money well-spent.
🔥Bottom line: If you’re a new grad searching for a job, make sure to read up on the job posting bot war. Be careful when using AI to pepper yourself all over the job boards! Oh, also, entry-level jobs are getting tougher to find. But that doesn’t mean you can’t find a great gig. This article has all the details along with some top tips.
Did you recently graduate college?
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