I am a recent college graduate and I would like some advice.
As aforementioned, I just graduated from college. During college I had internships every summer and career-related work experience during the year so these paid very well. Thus, I always had atleast $12,000 in my savings and/or checking accounts at all times. My senior year however, my friends and I went on multiple trips (Japan, Miami, Atlanta, etc) and my savings became not so impressive. Being that I am starting work in about a week, I moved from my college apartment and moved back home. So, I had to pay the remainding rent for the lenght of the lease. This was approximately $1,500. I then had to get my living arrangements together for Chicago (where I am moving and working) and this included over $2,700 of expenses. With this being said...my savings is now at approximately $150 overall. Keep in-mind that I have not had a source of income eversince the summer of 2006 when I had an i-banking internship paying very well. I saved alot of money and now it is all gone.
I would like to know from you all. What is the best way to get some money until I get some money coming in. I am looking to receive a sign-on bonus the first week of work, however, I have many things to purchase. Included new work clothes, shoes, misc items for my apartment, etc.
I am not huge into debt, however, I know that I will be able to pay the money back in about a week after I need it. Should I look to a credit card for this and simply pay everything back ASAP (within a month) or are there other alternatives?
What do you all suggest? I am sorry if this is a bad question; however, I am 21 with many questions. I have never had a credit card and I know that it is about time for me to begin building credit. I will be receiving over $9,000 this month and I know that I will only need to purchase a few minor items and I need the money to be able to do that. I am not looking to get into debt.
Thus, given my situation and everything said. What would my best option be? Would it be to take out a loan from my bank? Open a credit card? etc
Thank you in advance for your responses; they are greatly appreciated
As aforementioned, I just graduated from college. During college I had internships every summer and career-related work experience during the year so these paid very well. Thus, I always had atleast $12,000 in my savings and/or checking accounts at all times. My senior year however, my friends and I went on multiple trips (Japan, Miami, Atlanta, etc) and my savings became not so impressive. Being that I am starting work in about a week, I moved from my college apartment and moved back home. So, I had to pay the remainding rent for the lenght of the lease. This was approximately $1,500. I then had to get my living arrangements together for Chicago (where I am moving and working) and this included over $2,700 of expenses. With this being said...my savings is now at approximately $150 overall. Keep in-mind that I have not had a source of income eversince the summer of 2006 when I had an i-banking internship paying very well. I saved alot of money and now it is all gone.
I would like to know from you all. What is the best way to get some money until I get some money coming in. I am looking to receive a sign-on bonus the first week of work, however, I have many things to purchase. Included new work clothes, shoes, misc items for my apartment, etc.
I am not huge into debt, however, I know that I will be able to pay the money back in about a week after I need it. Should I look to a credit card for this and simply pay everything back ASAP (within a month) or are there other alternatives?
What do you all suggest? I am sorry if this is a bad question; however, I am 21 with many questions. I have never had a credit card and I know that it is about time for me to begin building credit. I will be receiving over $9,000 this month and I know that I will only need to purchase a few minor items and I need the money to be able to do that. I am not looking to get into debt.
Thus, given my situation and everything said. What would my best option be? Would it be to take out a loan from my bank? Open a credit card? etc
Thank you in advance for your responses; they are greatly appreciated