Chief Investment Strategist, Wes Moss, was recently featured along with other financial experts such as Dave Ramsey and Clark Howard. These well-known personal finance experts were asked what they desperately want new graduates to know.
Wes’s Advice. Think about moving back home: CFP Wes Moss knows it’s a sacrifice to move back in with your folks after graduation. However, “If you can grin and bear it, it’s a great way to get a financial buffer quickly,” he says. Of course, it’s all for nothing if you don’t save that money you would have spent on rent.
Of the 25 experts interviewed, others urge new graduates to:
1. Use sites like Mint.com to create a responsible budget
2. Wait at least six months before pulling the trigger on a new car or big apartment.
3. Use public transportation and get a roommate until you have a better idea of what you can afford.
4. Blog, volunteer, or take an unpaid internship to make contacts and gain experience until you find work.