College takes a sizeable amount out of one’s wallet, and since paying for education is a primary concern for many, sometimes people forget that the expenses do no stop there; the Average Expenses of Recent Graduates infographic so neatly and sorrowfully illustrates the details of that fact.
For all those looking to get an idea of how much you will be dishing out monthly if you choose to live in a major city in the United States, the cost of living is detailed, broken down into major categories like food, transportation, etc. There are some new ‘basics’ to note that come with the generation we live in—the phone, TV and Internet are all costs that must be incurred to continue a ‘normal’ lifestyle.
Lo and behold, college payments will continue to haunt graduates forever, as student loan payments make up a chunk of the expenses young adults will have to bear as they become contributing members of society.
Post-Education Spending Stats
The Average Expenses of Recent Graduates Infographic Breaks it Down
Trend Themes
1. Post-education Debt Burden - Opportunity for companies offering financial planning and advisory services for graduates burdened with student loan payments.
2. Rising Cost of Living - Opportunity for companies offering affordable goods and services in major cities to cater to fresh graduates with limited monthly budgets.
3. Emergence of New Basic Necessities - Opportunity for companies offering bundled and cost-effective plans for phone, TV and internet services to cater to young adults' consumption patterns.
Industry Implications
1. Finance - Financial planning and advisory services to help fresh graduates deal with the burden of student loans.
2. Retail - Affordable retail businesses centered on major city needs such as food and transportation.
3. Telecom - Companies offering bundled and cost-effective plans for phone, TV, and internet services to cater to the consumption patterns of young adults.