Learn The Term ‘Delayed Gratification’

With the average recent graduate in 2014 accumulating almost $30,000 in student debt, now is not the time to spend money on purchases you do not need.

The moment a new college graduate starts earning an income, it will generally be more net cash flow coming into their household than they have ever seen before in their lives. Often, this new found cash flow can burn a hole in the pocket of new college graduate. Spending a ton of cash to take a huge car loan on a nice sports car, taking too fancy a vacation, or even buying a new home when you aren’t ready for all the ancillary expenses can pile debt higher and deeper before student loans are paid off. Incurring more debt after your enormous student debt is a very bad idea.

Now is the time to take stock of exactly where you are with each and every loan. You should access the National Student Loan Data System and see what amount is on each loan, the overall interest rate, and the length of term of the loan. There are software programs on the internet to help a new college graduate manage the loans, and the most important step is to get a detailed plan together on how you plan to pay off the loans.

What most college graduates don’t want to hear is the term ‘delayed gratification’. Do your best to make more than the minimum payment and once you are done with one loan than add that payment to the next loan until you pay them all off. The really smart move after you pay off all the loan is continue to save that monthly payment for your future whether it is for retirement or an accumulation goal you have for the future. Don’t delay if at all possible because compounding interest is not your friend!

Go to www.oxygenfinancial.net to request a consultation on how to make smart money moves for your future.

Written by: Ted Jenkin
Request a FREE consultation: www.oxygenfinancial.net

About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves


My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

Read More About Ted Here

Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

Background and qualification information is available at FINRA's BrokerCheck website.

One Comment

  • June 25, 2014

    I learned a lot! Thank you for sharing!

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