My budget, my well-being
Do you find yourself brooding about your financial situation and not achieving your goals for saving and investing for your future? Making a financial plan can…
During your student life, you have necessarily learned how to manage your budget: rent, charges, shopping; in short, all of a household's expenses!
Now that your last semester at university will start, you will surely be asking yourself questions about your future. What to do after your studies?
Entering the world of work requires preparation! First step: a nice CV, because it is your entry ticket for a first recruitment interview! To prepare for it, here are a few tips:
Look to the future: you applied for a job and you landed your first employment contract.
Congratulations! Who says first job, says first salary!
Here are 3 steps to prepare your active life from a financial point of view:
Even if your joy is legitimate, the world is full of temptations and everything has a price. You will have to deal with expenses that you have probably not faced as a student: insurance, health care expenses, loan repayments, etc.
Of course, you are on cloud nine with this first pay slip, but you will have to come down from it. To avoid unpleasant surprises, find below some tips so that the landing is not too hard!
Have you opted for the state-guaranteed student loan? The first repayment must be made 2 years after the end of your studies and the loan must be repaid in full after 10 years.
The state-guaranteed student loan that you received half-yearly during your studies is EUR 3.250 per semester (to this are added the increases for registration fees of a maximum annual amount of EUR 1.900 and a grant based on social criteria of EUR 4.420). Interest on the loan is payable half-yearly!
After 5 years of study, the loan can therefore easily amount to more than EUR 60.000, which corresponds to a monthly instalment of EUR 676,75* starting from a repayment over 8 years.
We advise you to draw up a repayment plan based on your salary and to set up a provision for the repayment, starting from your first salary.
Even if your first paycheck is modest, it's important to get into the right habits from the start. Set aside a portion of your salary automatically.
You are a student and you don't have a regular income, but even by starting with small investments, it is possible to create reserves for the future.
This article is provided for information purposes only and has no contractual value. It shall not, under any circumstances, constitute or be equated to an investment recommendation (within the meaning provided under regulations on market abuse), investment advice or an offer to buy or sell financial instruments.
Readers should form their own opinion on the products or services referred to in this article. They are free to contact a Spuerkeess advisor if they have any questions about investing.