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Just some feedback (recent graduate)
by Naik, Window Shopper
- Created: January 19, 2013, 7:12 pm
Hello everyone!
I just wanted some feedback from others about my choices, and to hear your
stories, comments, and concerns from more experienced people. Any feedback,
positive or negative is greatly appreciated.
I am a recent graduate, well... it has almost been a year since then.
Anyways, a couple months after graduating I finally got a job, and I started
thinking about my future plans and such.
I have credit card debt and a personal loan that was used during my college
life. Because it was only undergraduate school, the total is not that high,
lets just say it is under $50k. It was accumulated through school, expense,
etc. The only thing that was given to me was a rent free place to live, with
the occasional paying bills for the family.
I realized and calculated with my job, that I can live carefree and pay off
my debt within 2-3 years, while getting a new car or moving out.
But, my passion was to always make my own marketing business. But if I kept
with this slow route of paying bills and moving slowly, by the time I am
ready, I should be saving for a family of my own in the future. This would
set me back even longer, before making my own business.
I decided that if I managed everything well, I can start my business. And
that is what brings me here today. I have begun the planning for the last
couple months. I just thought it should be time when I actually say what I
want to do, and to see what others would say.
Thank you for reading!
SBA Community

JGabriel | Community Moderator | 1/23/2013 - 9:10 am
BizResearcher | Window Shopper | 1/22/2013 - 11:49 am
out in two to three years of living frugally, then do so. That will build
your credit score, which you will need to start a business. Can you begin
your business part-time in the evenings and weekends by doing marketing for
small businesses? That would allow you to begin developing a reputation.
Then, when you are debt-free and ready to go full time, you can transition
your part-time business into a full time one without the hassles of starting
from the beginning.
To do this and be able to transition from the part-time work to full time,
you will need to register your business name and entity type, obtain any
required licenses and permits, open a business bank account and treat the
part-time business like a real business. If you quit your current job to jump
into your own business now without carefully laying the ground work, you
could dig yourself deeper into a financial hole that could take many years to
emerge from and one that could leave you with a damaged credit rating for
years.
Naik | Window Shopper | 1/19/2013 - 7:25 pm
me!
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