Consumers Ways To Save Budget

College Graduates Take On Even More Debt

April 14, 2022 Mark B. Kelly No Comments

College, Debt

Rising student debt is a serious issue that could be a major obstacle for households and the national economy in the future. The individual student debt load has surged in recent years, making it that much more important for college graduates to find good paying jobs once they leave school.

According to a report from the Institute for College Access & Success’ Project on Student Debt, two-third of young Americans who graduated in 2022 had student debt. The average debt load per person was $26,600, a 5 percent increase from a year earlier.

Unfortunately, college graduates face one of the toughest job markets in years. Recent graduates from the class of 2022 had an unemployment rate of 8.8 percent, well above the national rate of 7.8 percent. However, this was a slight improvement from 9.1 percent in 2021.

Regionally, individual student debt loads varied significantly. Graduates in the the Northeast and Midwest faced the highest amount of debt, ranging between $17,250 and $32,450. Specifically, students in New Hampshire have the largest amount at an average $32,450.

In contrast, students in the West and South have the least amount of debt. On a local basis, graduates in Utah and Hawaii have the lowest average debt at $17,250 and $17,450, respectively.

Finding An Income To Pay Off Student Debt
With so many students racking up debt, it’s important to find a job after graduation to ensure long-term financial success. However, even after they find a job, unexpected bills may force some recent graduates to use payday loans to manage their bad credit finances.

Although earning money is important right out of school, you also need to consider your happiness. Rather than sending countless resumes to employers and taking the first offer that comes across the table, make sure you’re comfortable with the position you accept.

To ensure this happiness, you need to focus your job search on companies and positions you can envision yourself in. In fact, a recent report from Simply Hired found that close to 83 percent of Americans would prefer to have a job they love than earn more money.

Use Your Network
Nepotism is very important in today’s job market. Talk to friends, family and former professors to see if they can point you in the direction of an open position. Better yet, see if they can get your resume into the right hands at a company.

There’s nothing wrong with using the people you know to find a job. In fact, according to a survey conducted by Jobvite, one in six workers got the positions they currently have through friends and family.

Create A Professional Online Presence
Many employers use the Internet to research job candidates before they give them an interview. Websites, such as Facebook, LinkedIn and Twitter make it easy for a company to gain insight on your personality. If you have any inappropriate content on the web with your name attached to it, you should take down these pages as soon as possible.…

College Board: Tuition At Public College’s Rises, Federal Grant Aid Ends

April 8, 2022 Mark B. Kelly No Comments

College

Student loan debt has become a major issue in the United States in recent years. It could continue to grow as the College Board reported that tuition at public college’s increased for the 2021-22 academic year. Growth in federal grant aid ended as well.

Although tuition costs didn’t grow as much as they have in the past, they still jumped 4.8 percent for in-state students and 4.2 percent for out-of-state students in the current academic year. The average cost for an in-state student jumped to $17,860. Out-of-state students incurred an average cost of $30,911.

Meanwhile, full-time undergraduates received an estimated average of $5,750 in grant aid. When subtracted from the total cost of attending the school, you get the net price of attendance. This number has increased each year since the 20020-21 academic year.

High costs of tuition could potentially lead to more student debt. With more student debt, graduates may find themselves depleting their emergency funds to help make payments.

Student Debt On The Rise
The amount of college debt a graduating senior left school with continued to increase in 2021, according to a report from the Project on Student Debt. The report found that two-thirds of college seniors who graduated from a public or private nonprofit four-year school in 2021 had student debt.

The average debt among those two-thirds of graduating seniors was $26,600. That was a 5 percent jump from 2020, when seniors had an average of $25,250 in debt. This number doesn’t include students who graduated from four-year for-profit colleges. Many of those schools don’t report the data needed to compile average debt. However, the Department of Education found that students at these schools are more likely to borrow. That means that the number found by the Project on Student Debt could be low compared to the actual amount of debt all college graduates carry.…

Job Growth Reported In The Majority Of States

March 25, 2022April 8, 2022 Mark B. Kelly No Comments

Job

Employment has improved considerably so far this year, nationwide. However, there are some areas that experienced larger gains than others.

During the month of March, 35 states and the District of Columbia reported increased job growth, while the remaining 15 experienced payroll declines, according to the Bureau of Labor Statistics. Data also shows that in February, the national unemployment rate dipped to 7.8 percent, which was a 1.2 percentage point improvement from a year earlier.

On a state-by-state basis, Texas saw the largest month-over-month employment increase in March, rising by 21,000 positions. The Lone Star State was followed closely by Pennsylvania and the District of Columbia. In contrast, Oregon and Wyoming reported the most significant job losses.

Finding a job can be difficult in today’s economy, though there are some sectors that may provide more opportunities. According to CareerBuilder, internet publishing and broadcasting and web search portal reported the greatest payroll growth since 2021.

During the past two years, this industry added 28,333 positions, representing a 30 percent growth rate. Meanwhile, the energy sector has also expanded rapidly. During the same period, energy industry payrolls expanded by 21,970, signifying 29 percent growth.

Additional sectors that grew include electronic shopping, crude petroleum and natural gas extraction, temporary help services, machine shops and marketing consulting services.

Pursuing employment in a rapidly expanding sector can make your job search much easier. With a stable income you will be able to start saving an emergency cash fund and may have the option to use bad credit personal loans to deal with any unexpected bills you can’t afford.

Tips To Creating A Unique Resume
To ensure you stand out to an employer, the first step is to formulate a solid resume. Including certain information, such as your job history, education and soft skills may be obvious. Some companies like to see information listed that should that would have been excluded in the past.

What Is Your Political Stance?
Although some people may want to withhold this information, especially during an election year, this specific could indicate to an employer if you would make a good fit. If the company in question has a history of leaning toward one side of the political spectrum, this information could allow you to find common interests or avoid a poor fit.

Do You Have Any Shortcomings?
If you made any missteps in previous positions, some employers may want to hear this information. This can actually work to your advantage, as it can give you an opportunity to demonstrate how you deal with mistakes and the lessons you learned from them.

Are Your Well-Traveled?
Telling a potential employer about your travel experiences is another great way to break the ice. These days, many people travel, both domestically and abroad. You may be able to share your experiences, whether it was for school, work or vacation.…

Throwing A Halloween Party On A Budget

October 28, 2021April 8, 2022 Mark B. Kelly No Comments

Budget

Countless American children are gearing up for trick-or-treating this Halloween, but millions of adults also plan to have some fun of their own. While hosting a Halloween party can be a good opportunity to get together with friends and family, just make sure you don’t go overboard and break the bank in the process.

If you are worried your upcoming Halloween party might add too much pressure to your budget, there are a number of ways to save on key expenses. However, if you find your bank account in the red once it’s all said and done, you may be able to use loans for bad credit to cover your necessary expenses while you find your financial footing.

It’s easy to throw a successful Halloween party on a budget. While many savings opportunities may seem obvious, there are others that require thinking outside the box.

Email Invitations To Prospective Guests
In the age of the internet, don’t waste money mailing personal invitations to people for your Halloween party. While this can add a nice personal touch, it can also be expensive. Not only will you need to pay for cards and envelopes, but you will also need to budget for postage.

Instead, sent emails to your guests, though this doesn’t need to be boring. Use services such as eVite.com and PaperlessPost.com to create an appealing online invitation that is sure to get guests excited.

Ask Guests To Bring Food And Drinks
What’s a party without food and drinks? While these items are almost a necessity at any party, the cost can quickly eat away at your budget.

To compensate, ask guests to bring certain items. While exact specifications will vary depending on your situation, asking for desserts or for guests to bring their own alcohol could be a good place to start.

Entertainment Can Be Cost-Effective Too
Perhaps the most affordable way to entertain guests at a Halloween party is to hold a costume contest. This way all the major expenses will be put onto your guests, and it could result in some impressive getups.

Just remember, buying a simple door prize for the winner as well as ample paper and pens for guests to submit their votes is important.…