from class to corporate

Forbes Article

I know, personally, I didn't realize how much money it takes to live on your own. It wasn't until I realistically priced an apartment that I realized how difficult it would be for me to maintain one directly out of college. Unless you want to live with an apartment and that is all, you will have no money. Sometimes you can have just an apartment and STILL have money. Why? All the hidden expenses. You can't live in an apartment without heat, air, insurance, electricity, or savings. You really need three months of rent saved before you're prepared to move. 

I say all of this to say: as you begin working after college, you need to budget. 

I'm now working on a template for my monthly budget. I have monthly bills for loans, a credit card, and I'd like to purchase a cell phone separately from my parents. I need to record and track these expenses. I need to track my pay checks. It's important to know how much you make, how much is deducted for insurance, and how much you're contributing to your 401K. Some of you maybe thinking: retirement? This early? Yes. The sooner that you start, the more you have. Plus, most companies match your contribution or a portion of your contribution. Why not take advantage of that? 

Outline your expenses. Allot money for EVERYTHING. Not just the big bills, but the small expenses. For example, I can think of something to buy with every paycheck I make lol. So, I'm planning on allotting a certain amount I can spend on the desires of my heart. The basis of my budget is as follows: 

10% to God 

10% to Savings ( for the next couple months before my loan payments kick in, this will be increased)

80% to live on 

The 80% will be divided as well. I'm going to determine how much I think is acceptable to spend on entertainment( movies, dinners, nights out). I also am going to budget for gas and car related expenses  when I start driving at the end of October. There's so much more, but I won't bore you. It is essential to take everything into consideration.

The reality is 70% of Americans live paycheck to paycheck. I have no desire to work 40 hours a week and still be broke. How do we prevent this? Dumb logic would say "Well if you make enough money, you won't be broke" No. If you're a good steward over the money that is supplied to you, you won't be broke. You could be making $80,000 a year, if you don't manage it well you'll be left with zero. Make a plan and work your plan. ( When I find a budget template I like, I'll post it!) 

Be money smart :) 

-amb 

I'm going to be the new food supervisor for a big hospital in my area supervising two staffs at two different locations, a total of 100 employees. It's a job in the food service industry... A place I never thought I'd find myself again. Here's a little background: almost from the beginning of my work experience I've worked in food service. I was a hostess for a fancy restaurant during high school, a food service worker a my college, and worked at a hotel catering weddings during the summer. I served room service and breakfast to guests at the hotel as well. And to place the icing on the cake, for the last two academic years I was a shift supervisor at my college's main dining facility. 

Working in food isn't terrible. It's just a lot of long hours and a very broad job title...your title may say one thing, but you could be doing anything and everything. I wasn't looking for that unpredictability in my new big girl life. I was seeking something more scheduled, predictable to say the least. Something in an office, in a cubicle with air conditioning lol. Life is anything but predictable so, here I am. 

I want to say to all of you that during this job search, you have to start thinking like an adult. By that I mean: making decisions that you can build on that may not necessarily be comfortable. This job was an excellent big girl job choice because although its not in marketing: 

Coming from class to corporate, college graduates know very little about the importance of benefits. Realize that now, as an adult, you will need medical insurance, a 401k or another type of retirement plan, and other essentials. Your job has to provide these for you or you'll be paying a pretty penny out of pocket. Benefits can add thousands of dollars in value to your salary. Working at a hospital, I can get medical insurance and many other perks for little money. For example, not only is my medical insurance great I get discounts on my cell phone plan and movie tickets. Ask yourself: how much money am I saving or gaining on my salary from benefits? ( You can find this information on sites like salary.com or Monster's salary center) 

I'll be managing on a higher scale giving me management or supervisory experience. Even if I do not continue in food service after this, management experience is a great thing to have going into other fields. It shows responsibility, leadership, time management, interpersonal skills, and so much more. I'll get experience with scheduling, budgeting, and everything that goes into running a high volume facility. The position may seem limiting, but in actuality it opens me up to higher positions in other fields. Ask yourself: what skills am I obtaining in this position that other jobs look for? 

Your first job is a building block. It's an opportunity to gain experience and build to the next step. You don't want to work somewhere or in something where there's no room for advancement. This management experience can be built upon. I can work in this position for a year or more than rise to a higher position or take this experience to another field. Eventually, I could manage an entire location, a whole region, or be a director. Ask yourself: what does this position build to? What can I use this experience to achieve? 

Overall, this job is a great choice for the present. I'm not saying you should give up on your dreams or seek positions that are not your interest, however you should see the big picture of every job opportunity. Often, we see experienced professionals working in a different industry then their major and sometimes a different industry then their experience. Why is that? They got experience after leaving college, discovered their true interest, and built on that. I have a family member whose background Is in the  biomedical industry, but a strategic management company was interested in them. Don't feel restricted to one industry or one goal. Diverse candidates are treasured like specialized candidates. 

I wanted to share this confession with you because I know that many of you will have the same emotions that I currently have if you take a position that wasn't what you imagined. It's not the end of the world, but the beginning of a new one :) the job title doesn't define you, you define who you are and who you are to be.

-amb