Questions to Think About When Job Hunting After Graduation
Understand your budget:
Once you graduate, have you thought about all the things your parents currently pay for that may quickly become your responsibility? Think about it. Cell phone, health insurance, utilities, Wi-Fi, car insurance, etc.? All of these, and more, will soon be yours. It’s important to start considering all the expenses you currently don’t have but soon will. Knowing what expenses you’ll have each month can help you determine what you can afford when it comes to moving.
Relocation costs
If you want to move away, have you thought about how much that costs? The time you spend looking for a job, applying for the job, searching for apartments, etc.? When thinking about moving, the costs of moving are something to definitely put into consideration when choosing a place.
In my case, I want to move to North Carolina. My drive will be 13 hours from Illinois to North Carolina. I have to consider the cost of gas, possible hotel, and food on the road, and that’s just to get me there! Other moving fees such as packing materials, a moving company (depending on how much you have), and materials to furnish my new place are all things I am taking into consideration.
Apartment costs
Depending on where you want to move, living expense can vary. If you want to live in the city, expect rent prices to be higher. When comparing apartments, it’s important to look into all related expenses such as: pet fee, maintenance fee, coin-operated laundry, renters insurance, application fee, parking fees, utilities, amenities, and more.
Pet fees vary. Some can be a one-time deposit and monthly fee or just a monthly fee. Confirm the expense for having your furry friend live with you. If your apartment offers on-site trash pickup or frequent lawn care, expect that to be an additional cost. Some landlords will make renters insurance mandatory. Thankfully, renters insurance is cheaper than homeowners insurance.
Does your current wardrobe match your future job?
Buying clothes for a new job can be pricey. Thinking about all of the clothing in your closet is definitely something to ponder as graduation comes closer. What are you spending your money on when you shop? What are you asking for birthday/Christmas? If you’re going into the business world, jeans and a t-shirt won’t do. You’ll need to make sure you have the professional wardrobe attire. As always, better to start sooner rather than later.
Can your current car sustain the drive for relocation?
If you’ve had the same car since you turned 16, is it going to make the trip? Do you think it’s time to start looking for a more reliable ride? Transportation is very critical when considering moving away. If you can’t get there, you can’t move. It might be time to consider taking a loan out and using that to buy a reliable form of transportation so you can get to and from your job.
Using financial calculators provided by your financial institution are there for you to figure out your financial status. Whether it be home, personal, investment, retirement, or lease, check out American Eagle Credit Union’s website for more assistance.
