Real World 101: Life After College

In a recent New York Times article by Damon Darlin called More Advice Graduates Don't Want to Hear, Damon offers advice that may be hard to swallow, but is definitely beneficial in the long run. He notes that although trying to get by on $40,000 a year may be tough, it is possibly, even in  New York and San Francisco. The only thing that the author fails to remember is the student loan payments that need to be factored into a budget.

A few of his suggestions are:

• Never pay a real estate agent a 6 percent commission.

• Buy used things, except maybe used tires

• Get on the do-not-call list and other do-not-solicit lists so you can’t be tempted.

• Know what your credit reports say, but don’t pay for that knowledge: go to www.annualcreditreport.com to get them.

• Consolidate your cable, phone and Internet service to get the best deal.

• Lose weight. Carrying extra pounds costs tens of thousands of dollars over a lifetime.

• Do not use your home as a piggy bank if home prices are flat or going down or if interest rates are rising.

• Enroll in a 401(k) at work immediately.
  

• Postpone buying high-tech products like PCs, digital cameras and high-definition TVs for as long as possible. And then buy after the selling season or buy older technology just as a new technology comes along