Finseca: Graduates Should be Taking these Four Steps Ahead of Graduation
May 1, 2023 by Finseca
WASHINGTON, April 26, 2023 /PRNewswire/ — With graduation just around the corner for countless Americans, Finseca wants to make sure the class of 2023 is prioritizing their financial security. Getting started out, especially if you have student loan debt, can be daunting. But with careful planning and preparation, graduates can set themselves up for success by following these four tips:
- Create a budget and write out a plan. Simply tracking your spending to stay within a budget can set you up for control of your finances. There are many great apps you can use to manage this. Your bank might even have one connected to your account. If not, you can easily do this with a simple spreadsheet.
- Talk to a professional. One of the best ways to learn about financial security, especially if you’re just getting started, is to talk to a financial security professional (FSP), preferably a Finseca one. A holistic financial planner can walk you through your protection, planning and investment options to ensure you start off on the right foot.
- Start saving now. Even saving a small amount in your 20s can make a significant impact when you are older, and it’s all thanks to the magic of compound interest. Specifically, try to make an effort to immediately put 5% of your paycheck away into a retirement account – particularly if your employer offers a match. Retirement savings have a tax advantage, so the real cost to you is extremely small. Take note of all your savings options.
- Protection options. Getting life insurance while you’re young and healthy is extremely affordable. Start by thinking about your term options and talk to your FSP about the benefits of permanent life insurance when you’re young.
At Finseca, our mission is to secure FINancial SECurity for All. For those of you just graduating, be sure to make your financial security a priority. Listen up Grads, financial security is at your fingertips, but it starts by taking these four steps today!
At Finseca, we know that financial security improves people’s lives and protects their livelihoods and future wellbeing. We are rising to the challenge of increasing financial security for all. Finseca represents the men and women of the financial security profession who dedicate themselves to delivering holistic financial security to their clients every day.