Source: Joyce Cantrell, Instructor of Personal Financial Planning
RADIO REPORT: Financial planning for new college graduates
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You have selected a report on the importance of financial planning for new college graduates. The wrap and sound bite follow in 3,2,1…
WRAP
1: Developing a strong financial foundation is important for
new college graduates
TIME: 59 Seconds
SUGGESTED INTRO: MANY COLLEGE STUDENTS USED TO BEING ON A TIGHT BUDGET MAY SUDDENLY FIND THEMSELVES WITH A LITTLE MORE MONEY TO SPEND ONCE THEY LAND THAT FIRST JOB AFTER GRADUATION. AN EXPERT IN PERSONAL FINANCIAL PLANNING AT K-STATE HAS SOME KEY ADVICE FOR NEW COLLEGE GRADUATES. LANICE THOMSON REPORTS.
DEVELOPING GOOD FINANCIAL HABITS IS SOUND ADVICE AT ANY AGE -- ESPECIALLY THOSE GRADUATES WHO ARE NEW TO THE WORKFORCE. JOYCE CANTRELL, INSTRUCTOR OF PERSONAL FINANCIAL PLANNING AT K-STATE SAYS AFTER LANDING THAT FIRST JOB, ITS VERY IMPORTANT NEW GRADUATES ESTABLISH A STRONG, FIRM FOUNDATION WITH THEIR MONEY...
(Cantrell :15 "That means they have spending under control, they have a plan for managing any debt they may have taken away from their college experience or whatever. They need to make sure that they live within their means. I think that's really the first basic step."
CANTRELL SAYS ONE OF THE MOST COMMON MISTAKES NEW GRADUATES MAKE IS FEELING THEY MUST PAY OFF THEIR STUDENT LOANS RIGHT AWAY...
(Cantrell :21 "Yes, it's a debt that's going to be extended over a long period of time, it's relatively inexpensive debt. So if they have a credit card balances, that's their first priority. Of course they have to meet their student loan payments, but don't pay more than what's required."
LANICE THOMSON, KANSAS STATE UNIVERSITY.