So you have studied hard, gained many skills and knowledge, made great friends and passed your qualifications, that’s it, higher education done. It may seem a frightening prospect but the world is your oyster, and it is up to you to go and live your life to the full. What should you now consider as you leave education and enter the big wide world?
Without any money, you are really going to struggle to build a life for yourself. The first thing to do after leaving higher education is to secure some income. Perhaps you have some kind of ideal job in mind or a profession that you really want to pursue or maybe you are not even sure which direction to go. Well, rather than waste time searching for the ideal job to come along just make sure you get a position that pays. Even if your income at the start is quite modest, at least you will have money coming in so you can get by and start to build something for the future.
Once you have a house sorted, this will probably determine where you want to live. Just after leaving higher education your life is like a blank canvas and, in theory, you probably could go anywhere and do anything. You’re young and probably have the least amount of responsibility that you will ever have in your life, so this may be the right time to rent for a short period and not tie yourself into a long-term commitment, especially if you’re unfamiliar with an area or your job is just a short-term thing. However, if you know where you want to live and you have already secured a position with good prospects in your chosen career, or you are in a steady relationship, then you could get your first home sooner than you think. Perhaps this is the right time to scrape together a deposit and buy your own first home. Any money that you pay for a mortgage will enable you to own the property in the future and therefore you won’t have to waste money on renting a property. Buying a home when you’re younger allows you to enjoy retirement debt free in most cases too!
It is a good idea to live within your means and start as you mean to go on. If you put away even just a small amount for the future, soon your savings pot will grow, and there will be a buffer for any unexpected large bills, which come your way in the future. As your money will grow year on year by earning interest in the bank, you are effectively saving towards a brighter future.
Leaving higher education can be difficult because you have probably made a lot of very close friends, which usually will stay very close for life. However, this is the time when everyone leaves to follow their own separate paths and forge a life for themselves. Some friends may move to the other side of the country, while others may go overseas to find out what other places have to offer. Therefore, it is important to build up a new network of friends in your new area, which will help you to integrate more easily into your new community.
There will be many other people about to embark on their journey through higher education and, now that you have gone through the process yourself, why not try and give something back by helping the next generation.