Did you know that 25% of your salary after graduation will go to taxes? Or that you should always have at least 3-6 months of your income in savings? Or that a good credit score is necessary to secure a lower interest rate on your first car? With pizza and a packed room, my friends and I were relieved to be learning these essential facts during February’s Money Savvy series. Professor Curtis, Professor Guthrie, and Professor Mastrolia, from the School of Management, presented on taxes, budgeting, insurance, managing credit, debt, and mutual funds to over 70 students each session.
As a college senior, I have put together budgets, managed my own credit card, paid bills for my downtown house, but never sat down to discuss future financial planning. The Money Savvy series helped clarify terminology and topics I had heard about, i.e. the meaning of a 401k and when to buy life insurance. I am thankful to have new credit score websites, budget apps, and a better understanding of insurance before my first job begins.
Seniors, if you missed the series, go to the “Money Savvy Series – Finance Series 2014” folder in the CDC public netspace and check out the PowerPoints. Also, make sure to sign up for Be Well After Bucknell on March 26th and April 2nd to learn about signing up for health care plans and staying healthy post-graduation.