Fix: Once you graduate, see if you qualify for a student loan forgiveness program or consider working for AmeriCorps. You should make your student loan debt a part of your debt payment plan and work on paying it off so you can use that money to reach your other goals. Fix: The first step is to stop using your credit cards immediately. Then you need to set up a budget and a debt payment plan that allows you to pay extra on the cards so you can get out of debt and stop paying high amounts of interest. Fix: If you are still in debt, you may want to contribute up to your employer’s match. After you are out of debt, work on getting that number up to 15 percent of your income each year. Start by increasing the amount you contribute with each of your annual raises, this way you will not miss the money. Consider cutting back on entertainment expenses to help find extra money for retirement. Fix: If insurance seems too steep for you, try looking for a high deductible health insurance plan. The monthly premiums are lower, but it will cover any catastrophic medical bills and help you avoid the fees you will incur from carrying no insurance at all. You may also want to look for a job that offers health insurance to employees that work part-time, and get a job there to cover insurance if you are a student or you work as an independent contractor. Fix: Start by saving up an emergency fund of one month’s wages before you work on getting out of debt or anything else. This will be your emergency fund while you work on your debt. Once you have paid down your debt, work on saving a year’s worth of expenses, and then make other savings goals, like a down payment. If you need to find extra money to save, consider cutting your monthly bills, and cutting back on other ways that you spend money to help you get ahead more quickly. Fix: Set up an effective financial plan that includes both short and long-term goals. You can plan for things like purchasing a house, finding your dream job, and your retirement. The more detailed your plan, the better. If it feels like too much pressure, remember that you can change things if you need to or if your goals change. Working on one plan will help you even if you change to a different plan. Once you have your plan, you can use it to create a solid budget that will help you reach your goals. If it is a negative work environment, it can make you depressed, and it can be difficult to be positive in a difficult situation. Although you may decide you need to stay for another year, you should be committed to moving on. Fix: This fix depends on why you have the job. It may include going back to school so you have the skills to move on to the next job. It may mean widening your job search to different areas or fields so you can find something that works for you. The key is to realize that you do not have to stay at your current job, and if you are not being paid enough or if the job is truly miserable, you owe it to yourself to start looking for something new right away.
