Off the Ledger
Your days as a college student are almost numbered. The working world is calling. As you get ready to embark on your career, you have to be thinking, “What am I going to do when I graduate?” “Is a job in public accounting right for me?”
Where do you want to go?
You have so many options. Big firm or small? How do you decide? Where can you go to get the real, honest look at a career in public accounting? What is it REALLY like to be an intern? What will my life be like as a staff accountant?
See your future...
At Porter Keadle Moore, LLP (PKM) we’re here to help. We’ve created this blog site just for you! To help you find answers to these and other questions about working in a public accounting firm. Real interns and brand new staff accountants chronicle their experiences with our firm. Read what they have to say. Ask questions, share your opinions and we’ll respond.
Enter the Real World on the Right Foot!
David Berry- Audit Associate
For many of you, as college graduates, this will be the first time you will be expected to fully support yourself. You finally land a job and are so excited to start “rolling in the dough,” but make sure you don’t get ahead of yourself. According to the Illinois CPA Society there a few things you need to remember to make sure you start off on the right foot, at least financially, if nothing else….
Money is Real. In this wired world we often don’t see our friends, or our money, face to face. You can bank and pay bills online and get cash from a machine. Using debit cards, charge cards and electronic transfers can make personal finance seem like a game. Make it real - know what you spend and where you spend it. (For a dose of reality and a little discipline, try the old-fashioned envelope budget method: get the cash you need for a month, put it in envelope and see where it goes and how long it lasts.)
Save Something. Even if it’s just a jar of loose change, find a simple way to put money aside and away from the possibility of being used for expenses. Start early in life with the idea that there should always be some money, no matter how small an amount, you don’t use but save for the future. It’ll be much easier to start saving now than to break spending habits later. Making an automatic deposit from your paycheck directly to a savings account is an easy way to save before you spend.
Think twice, spend wisely. Your first apartment doesn’t need to be in the trendiest neighborhood; maybe for awhile you can put money aside by staying with your parents. Do you really need new shoes, and if you do, does the designer label really matter? Question yourself before buying anything - from a home to a cell phone. Do you need it and need it now? How much will it cost you in the long run?
It’s not just about having money; it’s what you do with it. Big salaries, any salary, might make you feel as if you can do everything and buy anything. Maybe you can, but not right now and not all at once. Consider money management a part of your life as you would your career or your education. Set goals - a new car, a dream vacation - and plan how to achieve them. Work towards where you want to be financially. Keep good records, track your progress, ask questions, understand financial terms, stay informed about news affecting your money, and get help when you need it.
So, for all you future CPA’s who will be reviewing everyone else’s finances, make sure you have yours in check first!
Click here for a link to the article or here to visit the local Georgia Society of CPA’s homepage.
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