A Note to all Graduates…

Dear Graduates and parents of grads,

As I was pondering what to blog about this week, I happened across a few articles that sparked my interest. My desk is covered with things to read, but one stood out from the rest. There’s a fantastic article on Forbes.com, written by David K. Randall, entitled, “What I Wish I Had Known About Money When I Graduated. “ You can follow the link to it below:


I urge you to read this article, especially for those of you graduating from high school. Why? Well…because it’s sound advice.

As the father of five, I know all too well, how credit card companies seemingly throw credit cards at college kids, enticing them with free t-shirts, ipods, etc. just so that they’ll sign on the dotted line and then pay the price for that credit card later.  They make elaborate offers to young adults because they think the shiny new fangled whatever – from Wii’s to t-shirts, will make you want to sign up for a card. There’s often a “pack” mentality on campus, that if everyone’s doing it, I should do it too! Don’t be swayed! Just because you can’t see the money being spent, doesn’t mean you aren’t wracking up the bills! Charges add up in no time. And while Mr. Randall addresses in his article that, “recent legislation will make it harder for anyone under 21 to get a credit card, ” you will still be responsible for the debt at 22, 23 and 24. So, you may have to wait until your junior or senior year to get a card, but again, you’ll still be responsible! So, I encourage you to DO YOUR HOMEWORK! Find a card with a low FIXED rate .

Another great nugget he addresses is “your credit score matters more than your SAT score.”  While I can’t say that exactly…I mean, you did need to get into college, it plays a key factor in the rest of your life. YOU CAN NOT BORROW YOUR WAY OUT OF DEBT! I’ve said this a million times.  So, if you’re brave enough and responsible enough to have your own credit card, you can’t just swipe your way into getting whatever you want with your card and think it’s okay because you’re a student. Unless you’ve been underground somewhere, you already know the economy is bad…don’t add to it and ruin your future. Your credit score stays with you, just like your college transcripts! So please, treat it like you would your grade point average and make smart choices, do your homework and when it’s time for you to graduate college, you’ll be able to afford your first mortgage, a new car, etc. Because your score will be in tact.

Again, for more, I urge you to read David K. Randall’s article on Forbes.com it’s packed with more ideas that will help you get ahead financially. As a graduate you’re going to get a lot of advice about your future. We’d just like encourage you to read some that  will help you get  a good financial start.

And if you need financial couseling, we have a certified financial counselor on staff that would be happy to help! Call for an appointment today, it’s FREE to all members.

Congratulations graduates! You have the whole world ahead of you, take advantage  of it!



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