Ready for a big move after graduation? Here’s what you need to do

Manuel Crugliano moved from Italy to New York to pursue a master’s degree in marketing.

Source: Eleonora Di Zanni

I was working as a materials scientist in one of the most important research institutes in Italy, when I realized that I was not happy. There was a pivotal moment when I realized I had to completely change my life.

I think a lot of people can relate to that – feeling stuck in something you’re not passionate about anymore. But the next question is, what do you do?

Of course, you can just stop and take the time to figure it out. But most of us can’t afford it. So a great next step is to start getting involved in different organizations or hobbies – start figuring out where you’re headed.

More than College Money 101:
An easy guide to helping students make their first budget
Do you feel like you’re broke all the time? Here’s how you can change that
10 tips to help you find the perfect apartment after college

I got involved in the Tender To Nave Italia Foundation, a non-profit organization that fights against prejudices about disabilities and social difficulties through educational programs on board. Something they call adventure therapy. I started supporting their business by building a digital presence, creating an effective communication plan and managing their social media.

I liked it! Building this marketing strategy sparked a new passion in me. That’s why I decided what I wanted to do was pursue digital marketing in New York, where everyone says dreams can come true.

So how do you make a dream come true? It boils down to three words: Make a plan.

Step 1: Find what you want.

Find out how you can get that digital marketing job. Do you need a degree? If so, where are the best places to do it? Are these places ideal to better expose you to the marketing environment?

After some research, it became clear to me that New York City is probably the best place in the world to do marketing and advertising.

Step 2: Research where you are going.

I was moving to New York, one of the most expensive cities in the world! It’s not something you should do without a lot of research and planning – or you could end up in a lot of financial trouble.

I needed to know how much the airfare is, how much is the average rent, how expensive it is to live there compared to where I was living now.

When you not only change cities but also move to a different country, with a different currency, you have to be very careful and do a very well structured research in order to have all the information you need and create a plan accurate business.

At the beginning of my research, I used online resources to get an idea of ​​the costs, but later I decided to improve the reliability of my calculations regarding rent, cost of living, transport, etc. ., by measuring the average of the values ​​I found online.

Step 3: Determine how you will pay for it.

Once you know what you want and what you need to get it, you need to figure out: Can I afford it? How much money will I need? Will I be able to pay for my studies and my life on my own, or do I need a loan from a bank?

I made a spreadsheet, tracking all of this. I am including here a screenshot of a spreadsheet similar to the one I used for my plan. I have included in my spreadsheet the most important items that could be useful to anyone who wants to plan a big change in their life: the amount of the bank loan, plus the amount of my tuition, living expenses, l health insurance, rent, transportation and other expenses would be.

I would suggest starting by populating the spreadsheet with the expected values ​​and correcting it over time once you get more accurate numbers. Also, I would suggest increasing all values ​​by 10-15%, so you always have a backup in case the unexpected happens. For example, if you think you can afford a room for $1,300/month, you might consider a monthly budget for your rent of $1,500.

Step 4. Set a schedule.

If you are coming back, like me, for a higher degree, you need to be as precise as possible with your timing because time literally means money when you don’t have a job! So, be specific, get all the information you can from the school, and connect with your alumni from your school to learn from their experience. They can tell you what their expenses have been, what unexpected expenses have arisen, etc.

In my case, I contacted an Italian e-commerce professional who pursued the same master’s degree in New York that I was interested in, to confirm if my timeline was correct.

Step 5: Set a budget for your new life in the new city – and stick to it.

Once you have an almost finalized budget plan in your spreadsheet, checked the reliability of your numbers from multiple sources, and are sure you can afford all the expenses, you need to force yourself to stick to it. to your plan, no matter what.

Once you have a plan, you’ll find that it gives you a lot of confidence even if you’re doing completely new things. And one day you’ll realize – hey, I do!

To plan my life change, I used several resources, and I share some of them here:

the StreetEasy app and the website was extremely helpful in getting an idea of ​​how much rent is in different areas of the city.

Subway apps like MTA can be extremely useful for testing commuting time and avoiding living somewhere too far from your university.

I’ve also used more generic websites like Expatistan.comwhere you can find detailed information on food prices, as well as internet connections and electricity.

Finally, I suggest always checking if the neighborhood you are interested in is considered a safe place by simply Googling it and reading different articles about it. Sometimes it’s worth paying a little extra but feeling safe when you get home at late hours.

College Money 101″ is a guide written by students to help the class of 2022 learn about the big money problems they will face in life – from student loans to budgeting and getting their first apartment – ​​and make smart financial decisions. And, even if you’re still in school, you can start using this guide now so you can be financially savvy when you graduate and start your adult life on a great financial path. Manuel Crugliano is a Spring 2022 intern at NBC News with the Digital Research Team. He is pursuing a Masters in Social Media and Mobile Marketing at Pace University. The guide is edited by Cindy Perman.

REGISTER: Money 101 is an 8-week financial freedom learning course, delivered weekly to your inbox. For the Spanish Dinero 101 version, click here.

TO VERIFY: Meet a 26-year-old who earns $30,000 a month in ‘mostly passive’ income and has built a net worth of $1.3 million with Acorns + CNBC

Disclosure: NBCUniversal and Comcast Ventures are investors in Tassels.

Comments are closed.