College graduation is an exciting yet unpredictable time of a young person’s life. Traditionally, college graduates go out into the business world, find a job, and move somewhere close by. Within the last few years, however, things have changed. The economy is now so bad for recent grads that up to 85% of them move back home with their parents after graduating. Unemployment for recent college graduates is at historic levels and it is very difficult for them to find jobs and therefore move into a new apartment or home.
For those that are successful at finding employment and are able to move into their own place, there are some things to think about when transitioning from the student world to the full time working one. Despite the fact that you are working and more money is coming in, it is essential to develop a budget. Costs can quickly rack up as you find yourself paying for gas, making car repairs and paying off student loans. There are plenty of online applications to help with budgeting and setting spending limits. In most states you can deduct the cost moving from your taxes to help recuperate from some increased costs.
Some graduates may find themselves moving far away from school and home to find a new job. Get acquainted with the areas within your price range before picking a new home or apartment to settle down in. Most places require at least a year long lease, so you’ll want to make sure that your new home is acceptable before signing any papers. Also make sure the location is close to places you like to shop and spend time, as that will drastically increase the enjoyment you get out of your new home or apartment.