8 Smart College Grad Money Moves

Student loan debt is a stressful financial reality for the millions of young adults who are graduating this year, and it keeps getting worse. In fact, this year's  college graduates will leave school with an average of $37,172 in debt -- a new record high, according to a recent report. 

The standard repayment plan for bachelor degree student loans is 10 years, but it takes the average person twice that due to the life events that typically occur  over the course of a decade. While these stats are discouraging, it's ultimately within each graduate's control to pay off their student debt faster by adopting the  following eight smart money moves after college.

1. Don't ignore your debt.
Wishing you didn't have debt is understandable, but ignoring it will only cause bigger problems. Late payments can devastate your credit score and make it very difficult  to obtain loans. If you can't afford payments, you may qualify for a financial hardship deferment (available only for federal loans). Call your loan provider to explain  your situation so that he or she can help set up a repayment plan that works for you. You may even qualify for a student loan forgiveness program, so check out more  details at The College Investor. 

2. Limit lifestyle inflation.
Upon landing your first job out of school, you may feel tempted to "treat yo'self" and go on a spending binge. After all, you spent years eating ramen noodles and living  in tight quarters, so you've earned the right to splurge, right? The trick to getting out of debt faster and paving a secure financial future is to keep costs low for  now, however, so rein in the desire to upgrade everything you purchase.  

3. Create an emergency fund.
An emergency fund will ensure you have liquid cash to pay for unexpected issues, like a car accident or dental procedure, which could otherwise increase your credit card  debt and further reduce your ability to make additional payments toward student loans. Cash is a popular graduation gift with 2015 graduates estimated to receive a  collective $4.77 billion in money, gift cards and other tokens of congratulations. Stash that cash into an emergency fund to create the cushion you need to focus your  funds on other debts.

4. Work on the side.
Add to your income by taking on side hustles. If you're skilled at writing, consider freelancing for websites or content creators, or starting your own blog with  affiliate links. Sites like TaskRabbit.com offer a wide range of side gigs for extra cash, while  Rover.com is perfect for dog lovers who have space for boarding.  Making extra money long-term requires time and commitment, but your hard work will pay off when you save tens of thousands of dollars in student loan interest and pay  off your debt in half the time.  

5. Shop smarter.
Reducing your spending completely isn't an option; after all, you still need to eat, pay bills and get to work. However, you can shop and spend smarter to avoid wasting  money. Compare prices using tools like CamelCamelCamel.com or the ShopSavvy app to ensure you're not overpaying for a purchase. Consider buying second-hand as often as  possible for savings of up to 75 percent. And use mobile tools to make saving money easier, like the popular coupon app Coupon Sherpa which offers deals on everything  from apparel to haircuts to auto repair services. 

6. Trim your take out habit.
Eating out every meal will take a huge bite out of your monthly budget. While the occasional happy hour and restaurant outing with friends is okay, make sure you don't  fall into the trap of dining out several times per week. People who bring their lunch to work can save over $2,700 annually, according to a VISA survey conducted in 2015.  Just think how much debt you can pay with that money!

7. Sign up for retirement savings.
Even though retirement feels like a lifetime away, it's imperative to start saving now so you can take advantage of compound interest. If your employer offers to match  your retirement savings up to a certain percentage (typically between 1 and 3 percent), plan to deduct at least that amount from your paycheck so you're not leaving  money on the table. Otherwise, open an IRA account that works best for your situation and include monthly contributions in your budget.

8. Stop letting FOMO rule your finances.
FOMO, or the "fear of missing out," is often the scapegoat for overspending. From expensive vacations to dining out frequently to partying on the weekends, giving in to  FOMO will hinder your ability to stay on budget and pay down debt. While it's okay to take part in the occasional party or weekend getaway, just make sure it's in your  budget. Keep in mind, there will always be opportunities and the sooner you get your finances in order, the sooner you'll be able to enjoy a lifestyle with less monetary  restrictions.  

Andrea Woroch is a money-saving expert who transforms everyday consumers into savvy shoppers by sharing smart spending tips and personal finance advice.  As a sought-after media source, she has been featured among such top news outlets as Good Morning America, Today, CNN, Dr. OZ, New York Times, MONEY Magazine,  Consumer Reports, Forbes and many more. In addition, Andrea's stories have been published among leading publications and sites such as Yahoo!, AOL Daily Finance,  CNN Money, Huffington Post, LearnVest and New York Daily News. Visit her website at AndreaWoroch.com. You  can also follow her on Twitter or Facebook for daily money  tips.

Teens and Summer Jobs

Summertime is the perfect time to introduce your older teens into the workforce and teach them about financial responsibility. While the unemployment rate for teens ages 16-19 in our country stands at 19.2% in the month of May compared to the national rate of 6.3%, your teen should not be discouraged. There are jobs in the Tampa Bay community and it’s going to take some work. By the end of summer break your teen will not only have gained extra income, but valuable life lessons.

TOP FIVE REASONS TO LOOK FOR A SUMMER JOB:

1. Develop interview skills. As they say, practice makes perfect. The more interviews your teen goes on, the better he or she will become at the interview process. This will not only help them in the short term, but in the long term as they interview for college admission or full-time work in the future. Prepare your teen by sharing your own interview experiences. Remind your child to dress the part and bring a smile.

2. Better cope with rejection. No one likes to be turned down, but it’s a part of life.Your teen may not get the job. We’ve all been there. This is a valuable life lesson for you teen as they learn to cope with the rejection and learn to move on.

3. Learn something new about yourself. From new skills to new interests, your teen will LEARN! Encourage them to set a goal, whether it’s learning a new skill or setting a financial goal for college or a new car. This will give them a sense of accomplishment and boost self-esteem. Becoming a camp counselor is a great way for kids to ease into the job market while learning new things about themselves. Maybe your teen will discover starting his or her OWN business is more suited for them.

4. Push the limits of your comfort zone. It’s not always easy, no matter how old you are, to put yourself out there and push for the job you want. It’s a competitive world out there. Encourage your teen to approach the manager at their favorite store or theme park and inquire about employment opportunities. The more they do it, the easier it will become. Talk about a confidence booster!  

5. You’ll face less competition as your resume grows. It’s not always going to be easy to find that first job. Many teens may give up on trying to find a job, which will only help your teen if they keep on searching. If they cannot find a paying job, encourage your child to volunteer with a favorite charity organization. Volunteering is another great way to gain valuable work experience and it’s practically a must on a college application nowadays.

BE YOUR OWN BOSS:

Babysitting, dog walking, get creative and start your own Etsy store, tutor ...or start a MAGIC SHOW LIKE ME! Your teen can start small and work their way to making more money, and it will teach them about entrepreneurship. We have seen so many kids and teens coming up with great ideas for businesses and really pursuing them lately that the sky is the limit when it comes to your teen starting a business.

For more information on teens and summer jobs visit ParentingwithAngela.com.

by Angela Ardolino of Tampa Bay Parenting and Parenting with Angela, ParentingwithAngela.com 

Prehistoric Projects

Learning about dinosaurs with your family can be as fun as it is educational. Tampa Bay Parenting contributor Grayson Kamm is here from MOSI to talk about dinosaurs! We have some fun prehistoric projects that anybody can do around the house.

And, since we're MOSI, the idea is that we're learning along with the fun.

The first thing I'm gonna show you is how to make your own dinosaur tooth fossil! You need a cup, some sand, and some plaster of Paris – which you can get at a craft store or Walmart.

Now, I have a model of a *real* dinosaur tooth that we made with a 3-D printer at MOSI. We actually demonstrate 3-D printing every day if you come visit us.

But if you don't have a 3-D printed tooth? No problem at all! A carrot will do nicely! You can use a peeler to shape it to just the shape you want. Get together with your kids and look up pictures of dinosaur teeth online – you'll see that plant eaters and meat eaters had different-shaped teeth.

Decide which one you want to make out of your carrot, press it in the sand – the pour the plaster into the impression. It'll harden to create your own cool grey dinosaur tooth. You could even put a paperclip in there as it dries to make a pendant.

Next up, you have a prehistoric pizza

You can get whole buckets of plastic dinosaurs for just a few dollars. But here's what you do with them – you take a pizza box and you make it into a piece of the prehistoric world!

Use Play Doh or clay, then sticks you find in the yard, sand, and some blue markers or paint for water – and you can create an entire ancient landscape! Then encourage your kids to tell you the story of why their dinosaurs are doing what they're doing – are they eating over by the trees because they're plant eaters? Are they chasing other dinosaurs because they're meat eaters?

Now, if your kids are big dinosaur fans – you have got to get them to MOSI by the end of the day Sunday. That's the end of our amazing exhibit called Dinosaurs in Motion -- where you can take control of life-sized metal skeletons of dinosaurs. We have a 44 foot long T Rex – and you can snap its jaws. It's pretty incredible. And MOSI is offering free admission to mothers with a paid child admission on both Saturday and Sunday.

Last up, you've been laying out footprints all over the place.

This is a great one for a rainy day. With your child, look for images of dinosaur footprints online. Each dinosaur had it's own unique footprint. Along with your kids, pick out your favorites – and draw them and cut them out using construction paper. Stack two or four sheets of paper, and you cut two or four at one time.

And this is key -- then you lay them across the floor in a way that tells a story! Paleontologists have found tracks where you can tell a plant eater was peeing secretly followed by a meat eater! They've also found tracks that are spaced far apart, where you can see a dinosaur was running – and others that are heading to get water or food.

Lay them out and mix them around and have your child tell the story that they're seeing in their prehistoric world.

For more information on dinosaurs, visit MOSI.org and plan your trip. You can also visit TBParenting.com for more exciting projects.