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Mind of a Millionaire: What Are Some Expenses College Graduates Tend to Underestimate?

| May 10, 2019
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Thank you for tuning in to another episode of the Mind of a Millionaire podcast. This week Zak answers a few listeners questions which include credit cards debt, interest rates, recent graduate financial best-practices, and a brief outlook on the market for the month of May.

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Is it true you can negotiate pay-off amount with your credit card company is you can’t afford to pay down the debt? [0:27]

Utilize the baby-step program [1:37]

Is it possible to negotiate the interest rate? [2:28]

The envelope system [3:41]

Is it hard to maintain the same spending habits when you switch from the envelope system to a debit card? [6:03]

How long does it take to dial in your budget? [7:27]

What are some expenses college graduates tend to underestimate as they leave school and move away from home? [9:15]

What are some good financial first-steps that recent college graduates should take? [10:52]

How important is it to begin retirement contributions as early as possible? [12:02]

What are some common financial mistakes that recent college graduates make? [13:33]

Zak’s thoughts on the market for May [15:41]

 

We hope you enjoyed this week’s show! If you have any questions, please feel free to call our office or send us an email and we would be happy to get it answered.

Dow Jones Industrial Average (May 2019) Source: MarketWatch

 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

No strategy assures success or protects against loss.

All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful.

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