Millennials may get a lot of flak in the workplace, but that doesn’t necessarily mean it’s warranted. Sometimes it’s just a difference of opinion, and sometimes it’s just simple miscommunication. The next time you feel a generational conflict arise in your office, you should try to implement some of these quick tips and tricks to make the most of your relationship with your Millennial manager.
Student loans continue to be a financial burden for most millennials. It can be extremely frustrating and overwhelming to manage your loans right away, especially after graduation. According to Mark Kantrowitz, a publisher and vice president of strategy for Cappex.com, the average student debt for 2016 graduates is a record $37,173, up 6.05% from last year’s level. This is definitely not something millennials want to hear. Let’s take a look at three ways you can expedite the process and get you debt free.
It might be best for you to start looking for a part-time job while you are in college. It can benefit you in multiple ways. First, you will be able to put aside some money each month that will help decrease your compiling debt. Having a part-time job will also allow you to gain some valuable working experience that will benefit you in the future. According to Clayton Shearer, a wealth manager at A&I Financial Services in Englewood, Colorado,
“if a student can put away $1,000 a month, that’s $12,000 (a year) less in student loans and not having to take that money out in loans — a big savings”
Now, how can you disagree with him? Get started now on looking for a job!
When you graduate college and get your first full-time job, you’ll finally start seeing consistent income. This influx of cash may certainly be enough to lead to you spending money on unnecessary things. It may be in your best interest, in the beginning, to cut down on some expensive items and put that money towards your student loans. It is absolutely a sacrifice, but it’s better to do it sooner rather than later. (Especially when “later” entails the accumulation of even more unnecessary debt.) Trust me, you will be thanking yourself later.
I definitely recommend you developing a plan (budget) after you graduate college. It can be a great way to put things in order and keep you organized. This plan should allow you to understand what you should and shouldn’t spend money on, in order for you to cut down on your debt. Budgeting apps, which I wrote about in my recent blog post can be a good way to help you get started in the right direction.
Summer is a great time for college students to wind down after a long school year of studying and writing papers. You can spend time with friends, hit up the beaches and go on vacations. The time off is also important for students to make some extra cash before they head back to school in August. The following are three awesome summer jobs that college students should consider to make their summer vacations not only enjoyable, but productive as well.
Taking an internship (in any industry) is great for two reasons. One, you can develop an entire skillset that you would not have obtained otherwise. Two, you may be able to get your foot in the door with a potential employer after your graduate. Even if the internship doesn’t lead to full-time employment down the road, the work experience will still look great on your resume. While interning you should look to build solid relationships with your employers and colleagues, as they will be great additions to your professional network. This can be very beneficial for you in the future. From my perspective, I recommend completing an internship for at least one summer while you are in college. It can give you a leg up against your competition when your start applying for jobs post-graduation.
Bartending over the summer is one of the more common choices among college students. You have the possibility of making some good money, but you will definitely be working some late nights. If you enjoy the nightlife, this may be a good place to start. There are a few positives about working as a bartender that will help when you’re looking for your full-time job. Most importantly, you will get to learn how to work in high-pressure situations, which is a highly transferable skill. Bars sometimes get extremely hectic and you will learn that you must stay calm during these moments. Second, you will be interacting with people constantly, and you never know who you will meet. I recommend you always be kind and outgoing because there is a chance you may be meeting your future employer.
If you are looking to stay active during the summer, then working as a camp counselor might be a great fit for you. It is also great to put on your resume because you will be developing some great working skills along the way. This job is definitely one that can stand out on a resume when you are applying to jobs.
Getting a job will not only put cash in your pocket but it will also give your parents a break from always giving you money for food, clothes or whatever your heart desires.