Life After Graduation

Life after graduation can be confusing at times. life after graduation can be harder if we are lack of advice. Once we graduate, our whole world changes. Life becomes more complexes and other's expectations will change. Once we have decided to join the workforce permanently, there are some financial commitments which we will expect, perhaps not all of them, in our upcoming years.

Here are what we should expect when we step into adulthood and the working world.

1) 1st job- Along with our 1st salary, we should start planning for our financial future as well as avoid problems associated with debt.

2) EPF/KWSP- a compulsory contribution of 11% will be deducted from our gross salary ( permanent job) for EPF & 12% from employer for our retirement benefits as an employee of that company.

3) Investment & savings- Investments are meant for growing our money faster than putting it in a saving account.

4)Education loan and other loans-Make sure pay dues on time to avoid being blacklisted by any financial institution.

5)Insurance- Having an insurance policy is not a waste of money. Some policies offer investment opportunities.

6)Car- Owning a car costs more than just paying its monthly instalments as there are maintenance costs involved as well. To gain the maximum value out of your car purchase, it is wiser to commit ta a smaller loan with a shorter tenure.

7) Prevent financial trouble.

Goal setting is essential to getting our life on track following graduation. Establish our goals for all aspects in our life. For example: career, finances, relationships, housing, travel, and others. Make sure the goals we set are specific and measurable & always prepare for a rainy day.