During unstable times “Hope for the best, plan for the worst” is not just a simple cliche. What if you were to loose your job tomorrow, how would you survive?  How can you and your family maintain a comfortable lifestyle when there is no money coming into the household?  The best solution for an emergency such as this is to be prepared!  Strong clarity of direction is needed and a contingency plan provides breathing room in the worst case senarios.  Here are a few things you should consider “just in case” you were to get laid off your job. These suggestions are also valid in case of an injury or a sickness that leaves you unable to work.

• Emergency Funds: How will you pay your mortgage ent, car note, and other bills that keep you living a the lifestyle you’ve grown accustomed to?  You have to have an emergency saving account.  Don’t wait until its too late, you can start saving now.   MSN has provided information on how you can earn money while saving: CLICK HERE.  Also there is a very helpful site to guide your steps to starting an thProxy-Connection: keep-alive
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  emergency fund: HOW TO.

• The Bank: What other tangible funds do you have available?  Stocks, bonds, mutual funds, certificates of deposit (CD’s), –if you have any of these at your disposal your better off than you think. They can become key items in assisting you with your financial stability. Should anything happen to you or your career you can use these and replace them once things are back in order.

• Emergency Credit: Is your credit a benefit or a disadvantage?  You must consider whether you have incurred debt that will add to your list of concerns or become a saving grace. If you a large amount of credit cards, now is the time to cut up those that are not necessary and keep those that will help you when you’re in need. You also might want to consider starting up credit if you don’t have it for emergency cases.  Also If you own a home, consider taking out a home equity line of credit and vow never to touch it unless you run into a serious cash flow problem. What can you do without?  You want to know what you’re options.  There things that you can cut down when times get hard. You can lower your current bills so that they are more manageable by starting with your cable bill, cell phone plan, entertainment expenses.

• Government Aid: What programs and assistance will be available to you? It’s extremely important to understand the benefits that you can receive in the case that you are terminated from your job or fall sick.  Find out what you qualify for under unemployment benefits and insurance benefits by going to your local government unemployment agency website so that you are informed before you visit the local offices. About.com offers a page on how to collect unemployment benefits.

• Make a List: Don’t despair.  There are many things that you must be prepared for, that may not be mentioned in this list.  Sit down and write a list out of things that you should cover for yourself and your family.  Education for your children, daycare expenses, car insurance, and many many more. Its up to you to take control and not allow circumstances to get the best of you.  In the long run, planning will be the best thing you could have ever done.  You contingency plan is not only recession proof but can last a lifetime!

• Budget Wizard: BSC Alliance.com offers a wonderful Budgeting Worksheet that helps you fill in the blanks for the expenses that will determine your survival in case of an emergency.  The website helps with credit and dept solutions that will work perfectly with your Emergency plan.

One of the very first resources recommended to graduates is the Occupational Outlook Handbook (OOH) for 2008-09 . The Handbook is a nationally recognized source of career information, designed to provide valuable assistance to individuals making decisions about their future work lives. The Handbook is revised every two years. You can go to your local library, book store, or visit the online site .

Understanding what direction you plan to take your career in is only the first half.  The second half including knowing where to look.   Although, there may be many applicant vying for the same position, searching for a job is much like the lottery. “You have to be in it to win it!”

Below are the July top job search engines recommended by  Grad Pit Stop that can be the perfect places to begin posting your resume and cover letter:

The College Recruiter -Fresh out of college?Looking for an entry level position? Here’s a great choice.

Career Builder – One of the most popular job sites in the nation.

Unique aspect: applicants  see an icon to show how many people have applied for the same positions. Submit your resume in or find positions with the least exposure.

Monster – There are a monstrous amount of possibilities with this site. Create a profile and begin the search.

Indeed.com – an aggregate of job site postings with 718,335 new jobs in the last 7 days.

Yahoo HotJobs – search by catagory, location or keyword and your dream job could be waiting

Simply Hired – although it may not be simple, the website is a top rated site to find employment opportunities.

College Grad – The Entry Level Search continues. Check out the new posting daily on the college grad job board.

USA Jobs- Top site for Government positions and service jobs.

Link up -popular for “exposing hidden jobs”.  This site pulls from 21,621 company websites

LinkedIn – One of the newest most popular communication tools in the business world. Link in to the possibilities.

Craigslist – an abundance of positions listed from top companies to single day odd jobs. Whatever your preference check out the lists on Craigslist.

Why are you considering a graduate degree?
Career Goal: You need to have a clear understanding of what you want to do with your career — and how earning a graduate degree will help you reach that goal. If you have any doubts about your professional goals, consider putting off graduate school and, instead, work on some self-assessment and career planning.

Career Change: A graduate degree can often make sense for a job-seeker who is looking to make a career change, In this case, you would be earning the graduate degree in the field you plan to enter.

When should you consider obtaining a graduate degree?
One of the questions most often debated is when is the best time to consider a graduate degree. Is it better to attend graduate school right after you complete your bachelor’s degree, or is it better to wait a few years and gain some work/life experience first. As mentioned above, certainly do not consider going immediately to graduate school as a default move — or to avoid getting a job.

What is the best graduate degree for you?
There are two traditional categories of graduate degrees — master’s and doctoral — although there are also numerous hybrid combined-degree and certificate programs at many universities. Which one is more beneficial to your future?

What is the best graduate school/program for you?
Just as important a decision as whether to go to graduate school is the decision of where to go to graduate school. In fact, some experts say your choice of a graduate school is much more important than your choice of an undergraduate school.

. Can you afford graduate school?
Just as with your undergraduate college, it is crucial to look at the costs of the various graduate programs that interest you and determine what mix of financial aid will make attending the programs feasible. It’s best to study the literature each school sends you and then talk with a financial aid adviser at those schools that interest you.

Other Resources Related to Graduate School:
Gradschools.com. An online directory of 18,000 graduate and post-graduate programs worldwide including descriptions, contact information, and institutional advertising. Also includes chapters from The Grad School Handbook.

According to Young Money Magazine , one of the easiest ways to find jobs abroad is to take a teaching position with an international ESL programs designed to hire new graduates to teach English as a second language in elementary schools, secondary schools, and universities.

By jumping on these overseas positions, many young adults hope they can ride out the current wave of unemployment and return later to a better job market.

If interested working abroad opportunities check out Transitions Abroad or Jobs Abroad

Another interesting article on  Overseas Employment, Check out the article 12 Jobs for Young wanderers

A Great GPS Reading Suggestion:

The Big Guide To Living And Working Overseas: 3,045 Career Building Resources , By Jean-Marc Hachey

Here are 8-Great Budgeting tips to keep you financially cognizant and out of Debt

1. Just don’t blow it! Of course, it feels good to have money but “it comes and goes” so you have to manage wisely in order to live comfortably.
2. Avoid buying that brand new car.  There is nothing wrong with a financially manageable used vehicle. Although it looks good a fancy new car comes with an expensive car note. Also remember, driving off lot immediately decreases value of your car making it a less than smart investment.
3. Avoid expensive rent. Do you really need to live downtown in that luxury apartment?  The fact is, you can save a lot of money by just renting and finding something affordable that doesn’t eat away at your incoming funds.
4. Look for a roommate. Sharing the expenses of owning a home or renting an apartment is a great way to save plenty of money.  You can not only save on monthly rent but utilities and other related expenses.
5. Avoid credit card debt. While credit cards can be a good financial tool  (if used properly), they can also get you into a lot of trouble financially if you abuse them. It may be best to stay away from credit cards the temptation may be too much!
6. Create a monthly budget and stick to it. Figure out how much you’d like to spend, how much you need to spend, then find a happy medium.  You’ll never go broke sticking to a budget!
7. Build an emergency fund. The smartest thing you can do is save for a “rainy day”.  Having funds available to you in an easy to access savings account is essential.  Use these funds instead of a credit card when you need money.

The program is known as the Income-Based Repayment Plan (IBR).  The plan is available to borrowers replaying new and existing Direct or Federal Family Education Loans.  IBR links payments to income and family size as a way of protecting borrowers from drowning in monetary difficulties.  Those with overwhelmingly large debt will be given assistance relative to their income status.  This results in reduced monthly payments and depending on their financial status, possibly no monthly payments at all.

“We know many graduates are concerned about their ability to repay student loans in the current economic environment,” said U.S. Secretary of Education Arne Duncan. “This new plan addresses the issue head on by giving them the option of a monthly payment tied to their income.”

In order to find out the status of your eligibility, you have to contact your individual lender. However, as the IBR decreases payments, there will be extended repayment periods and increases in the interest charges. WThe program has implemented a new IBR calculator to estimate monthly payments and eligibility.

More assistance for Public service workers…

Borrowers who work in public service may be eligible to receive an additional benefit while using IBR: after 10 years, any remaining loan balance may be canceled. This Public Service Loan Forgiveness Program is available only in the Direct Loan Program to borrowers making payments while working full-time in schools, government or many nonprofit organizations.

Video by U.S. Secretary of Education Arne Duncan

For more information click: MORE INFO

Research the Possibilities

If your not sure which direction you’d like to go in research your options. The most power searched engines are those on Google and Yahoo. When you look up the terms “recession proof jobs 2009” you find that the top industries that are fairing the best during the “R-word” include: Healthcare-doctors, nurses, physicians and medical assistants and Personal Care– Barbers, hairdressers, beauticians and cosmetologists. Security- firemen, police, law enforcement officers, customs and security services, forensics, and shop security. Research a section where you feel you can benefit most but also be realistic in your choices.

Focus on in on results

In previous times one can go into an interview and highlight their skills over everything else. However, these days employers are more so concerned with results, not skills. The most important aspect becomes how can you produce for the company. What type of outcome will hiring you have? They want to know ways that you can turn that skill set into abilities so that you are an asset. Everyone has skills. But how many people can produce results?

Market Yourself

Consider yourself the product and the employer the buyer. What about you makes you something that they should invest in? What personal qualities compliment you professional capabilities. Everything you do, say, and wear will be analyzed from the moment you meet with a possible employer. Spend time on yourself presentation because despite those other candidates, there can only be ONE YOU. Allow your skills and abilities to transcend the resume. Show that you are driven, articulate, passionate, and so much more!

Think Global

If you can’t find the job you want here, consider working abroad. In today’s world of increasingly globalized activities, being cognizant of other cultural differences and being able to operate efficiently in them is key. There are companies willing to hire in various countries. If you have the desire to travel working abroad can be for you. Many American businesses are expanding across seas as well. Thus, Having a foreign language (or two) can be greatly beneficial in separating yourself from the rest!

Stay Positive

Don’t let the R-word get you down. There are plenty of opportunities out there if you are willing to take the time and search. Those who give up will never acquire the success but those who keep striving make the world a difference. Companies want an enthusiastic positive person representing them. Someone who has let the economy make them bitter and unhappy are not attractive. There have been worse times, and your individual spirit will be the key to getting you into better situations.

As a college graduate, chances are that you  have some student loans.  As soon as you walk across the stage, there is only a few months before you must decide what to do about your loans.  Payments can sometimes become overwhelming when combined with other living expendes.  You will begin to receive offers to “consolidate your loans”.  To consolidate is the process of combining multiple student or parent loans into one new loan with a new repayment term, interest rate and monthly payment.

Borrowers find benefits in consolidation such as eases financial burdens, creates extra spending money, possibly lower interest rates, decreases chances of defaulting on loans, easier to manage.   Although,  this repayment option also extends the time that you have to repay your student loans  you will end up increasing the amount you pay on interest.

The terms of your consolidation agreement are specifically dependant upon your specific lending instituation.  In order to find out what your options are in consolidating your loans visit your lender website.

Click the link below for a documentary on student loans that you might find interesting:

YOUTUBE LOAN DOCUMENTARY

Additional Resources:

Department of Education

SallieMae

Student Loan Consolidator

Educational Funding Council

However, there is great news! During the next few months, the FASFA will be getting a complete makeover that includes cutting down on the confusion and questions.

“ I’ll simplify the financial aid application process so that we don’t have a million students who aren’t applying for aid because it’s too difficult, “said President Barack Obama in a statement released by the Department of Education.

U.S. Secretary of Education Arne Duncan outlined the Obama Administration’s plan to simplify the Free Application for Federal Student Aid in three major steps:

1. A shorter and simpler online application will be created that skips unnecessary questions
2. Legislation will remove more than half of the financial questions
3. A web application that will let some families easily answer the remaining financial questions with data from the Internal Revenue Service (IRS).

The Departments of Education and Treasury will be working together modernize the online application. The end result will be an application that requests only easily obtainable personal information.

Finally, relief from the dreadful FAFSA college student know all too well.  Now, the application can be completed with only basic, personal information and a few clicks of their mouse.  This upcoming financial aid year won’t be nearly as bad as all the rest!

Find out more about the changes at:
The Department of Education