Life After College
At CommonWealth One, we are fully committed to supporting you and giving you the tools for financial success after graduation. We offer free seminars, webinars, and financial counseling in order help you thrive in life after college!
If you’re a JMU student staying local after graduation, the friendly staff at the JMU Madison Union branch and Harrisonburg Regional branch will be there to help you make a smooth financial transition from college into your first job.
If you’re not in Harrisonburg, never fear! With our branches in the Northern Virginia/ DC Metro Area, 6,000 shared branches and 80,000 free ATMS nationwide, plus mobile and online banking we’re sure to have a convenient location for you!
No matter where life after college takes you, let CommonWealth One be your financial partner for life!
To start you off on the right foot, here are some “Adulting” Pro Tips!
Here are five ways to make sure you’re setting yourself up for a bright financial future!
1. Match cash income and outflow. Take inventory of your current finances. List all debts and expected expenses and then make a budget. Get into the habit of saving money regularly. By using direct deposit and payroll deduction, you can put your savings plan on autopilot.
2. Start paying off student loans. Start making a dent in your student loans. Figure out how much you owe and how much you can afford to pay each month. Lenders recommend payments not exceed 8% to 10% of your gross monthly income.
3. Manage credit card debt. Get your credit card debt in order by paying off any outstanding debt and making subsequent payments on time. This will help you build a good track record to qualify for the best mortgage rates by the time you're ready to make a down payment on your first home or condo.
4. Start a money management system. Start by keeping track of all expenses so you can see exactly where you are spending your money.
5. Start saving for retirement. When you do get your first job, Invest in your company's 401(k) retirement plan as soon as possible. The employer's matching contribution is like getting free money!