Smart Financial moves for college Seniors

As a college senior, you are about to embark on a very exciting time in your life. Everything and maybe even everyone can be new to you, depending on your post-graduation plans. While you have amassed a certain amount of academic knowledge during your college years, have you gained any “money smarts?” Before you get too engrossed in graduation plans and jobs searches, take a few moments now to learn these valuable lessons which will help you get a sounder financial foundation in life:

LEARN ABOUT YOUR STUDENT LOADS

It may seem like there is a long time before you have to learn about repaying student loads, but that time can fly by so much faster than you realize. Talk to the financial aid office at your school before you graduate to determine exactly how many federal student loans you have, and who the servicer  is for each loan. If you have  private student loans, ask your parents to start  gathering this information. Find out whether loan consolidation is a good ideas for you. If you are entering a career field with a low initial starting salary, learn about income-based repayment plans now.

Continue building your budgeting skills

If your parents put you on a budget while you were in school, you have some knowledge about balancing income and expenses, but it is a lot easier when it’s your parents’ money. When you start earning money on your own, you will need to know more about living on a budget, including allocating money every month for your student loan payments.

Save a Little

It ‘s hard to think long-term at a young age, but you might be surprised at what saving a little now will be able to do for you down the road. Start learning to put aside a little bit of money on a regular a day or $50 a month, and let it grow so that you will have something to use for your car, wedding, house, and even your children’s college education!

Get Ready To Retire

What! You haven’t even start working yet! But that is exactly why this is the best time to think about retirement. When you are searching for a job, make sure you ask about any company-sponsored 401(k) retirement plans, and that you also make plans to contribute. If there is no pension plan offered by your employer, seriously consider trying to put money into your own IRA plan every year.

Impact Of Innovation on Business Success

The entrepreneurial landscape of the country is enlarging gradually with young graduates who have not found suitable jobs in their courses of the study, delving into the business world.

One of the areas where they have discovered passion is manufacturing. These young minds establish cottage industries with low capital base and serve the lower and middle class.

With the use of advanced technology and innovations, they are competing effectively and gradually changing the market.

However, the already established manufacturing companies in the country are facing hard time in which many are crash strapped with some folding up.

Infrastructural deficit, reduced patronage of made in Nigeria goods, heavy duties  on imported raw materials, smuggling and counterfeiting of products, insecurity, and shortage of skilled manpower pose major setbacks to growth and significant contribution of this sector to the Gross Domestic Product of the country.

Regardless of these challenges, experts are optimistic that when innovations are introduced into business operations of these companies, they will stay afloat and regain their position in the market.

According to them, these innovations have proved to widen the profit margin of some companies that have identified its importance and are exploring the options.

Increased investment in disruptive innovations

Experts say disruptive innovations are new products and services introduced into the market to serve people in the lower tier and capable of displacing established competitors.

However, they note that most companies pursue these innovations at the higher tier of their markets because this is what has historically helped them succeed.