What must new college graduates know about personal budgeting?
After graduating from college, your first major expenditures may include purchasing a new car to replace the one you drove during your Baylor days; renting a large, upscale apartment with no roommates; buying new furniture; and purchasing a new sound/video entertainment system. These acquisitions show your friends, peers and family you’ve finally “made it” and, during this phase of your life, you will take on new financial responsibilities that will probably include debt obligations. It is always easier to spend rather than save, but individuals feel uncomfortable when they do not have control over their finances. Either they control their finances or their finances control them. Personal budgeting provides a financial roadmap for the future “I am here now, but from a financial standpoint this is where I want to be at various stages of my life.
