I know it’s common to give cash or useful gifts, but I’m a Downer.
When my relatives graduate, I give them THIS BOOK. Dave Ramsey’s Complete Guide to Money. (Not an affiliate link.)
Because NO ONE talks about money. After High School, you’re just left to fumble around trying to pay your bills and scrape by, but you have no real idea of how to budget or manage your finances.
You take out student loans without really understanding the impact on your future finances.
You go to college events and there are credit card sign ups everywhere.
Everybody gets new cars and pays ridiculous amounts each month.
This is all ‘normal’.
And here’s the thing When you’ve made these mistakes it puts you in a real bad place. The dream you had of owning a house? Unreachable. Traveling? Unreachable. Fantasy wedding? Unreachable.
You’re stuck with car payments and student loan payments that eat your entire income. Anything left over, you blow because you ‘deserve it’. Or put it on a credit card and dig yourself deeper.
In 2011, my best friend was introduced to Dave Ramsey, and she basically twisted my arm until I read The Total Money Makeover. (Not an affiliate link.)
It rocked my world.
I wish I had known these things before I went to college. I never bought a new car, at least, but I’m guilty of the rest. I wish someone had talked to me so I could have made better choices.
So, I’m that Downer who gives a finance book at graduations. Because I don’t want them to make my mistakes.
What do you usually give new graduates? What do you wish you had known when you graduated. Inquiring minds want to know!