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Consumer credit counseling may help new grads with budgeting
By Edith Barlow on Jun 4th, 2010
Some young people may already be graduating some credit card debt, so they may want to work on keeping their finances in control.
Recently, the Illinois CPA Society provided some advice to newly minted graduates, including the idea of budgeting their funds. By doing so, new entrants into the work force can make sure their expenditures don't go beyond their income.
"Don't worry if it's not perfect, just have a budget so you know where you stand financially, update it frequently and stick to a plan," the society said.
Another suggestion was for young people to try and put at least a little bit of money in savings, even though it may be difficult on their first salary. They should also keep on eye on their credit and how much they use plastic to pay for purchases, as doing so can make it difficult to get a loan.
Financial education is also important, and one way a person may try to achieve this is through consumer credit counseling. These services can help with budgeting and eliminating unneeded expenses.
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