advice for college graduates | memphis bankruptcy attorneys

Some advice for college graduates, and really everyone, as far as finances and work

By: Darrell Castle 

Graduating college tends to hit different people in different ways. Some people are overjoyed because they’re finally done with school (unless they plan on seeking even higher education). Others are sad because now they have to start back at the bottom of the totem pole. However, a common feeling among the majority of college graduates is the feeling of uncertainty and fear of what the real word is going to bring and if they’ll succeed.


Larry Winget, “The Pitbull of Personal Development” stumbled upon an interesting post on LinkedIn posing the question, “What 3 words would you say to a new graduate entering the workforce today?”

There were some typical answers in which internet trolls tried to be funny and gave miserable advice that would guarantee failure. And then some answers were the typical cliche responses with no real meaning or true thought behind them. But there were five sets of answers that were pretty good and stuck out to Larry as useful advice, and they’re rather simple to the core.

  1. Learn and earn.
  2. Save. Save. Save.
  3. Always be reliable.
  4. Work. Work. Work.
  5. Save then spend.

Above are five sets of three words. They’re all so simple and to the point, yet so powerful. This isn’t just good advice for college graduates, but it’s good advice for anyone.

At Darrell Castle & Associates, as an office, we recently read one of Larry’s books, “You’re Broke Because You Want to Be.” In this book, Larry used the overlying theme that people make excuses for why they’re broke rather than going out and changing their circumstances. You can fix broke, but you can’t fix lazy and dumb – you must change it. It’s a hard-nosed message but there’s some truth behind it.

I’ve practiced bankruptcy law in Memphis for over 30 years. Many times, the people that come into my office are struggling financially because of a relatively uncontrollable situation, like a medical emergency or a job loss because their company downsized. However, often times, people tend to overlook their own faults and blame others for why they can’t pay their bills and live a comfortable life.

These are the people who give the bad sets of three words of advice to college graduates like:

  1. Leave at 5.
  2. Learn to hide.
  3. Welcome to hell.
  4. Break the rules

These people are letting their lives control them rather than controlling their own lives. They aren’t out there learning as much as they can on the job, being dependable and reliable, putting in the long work hours and saving their money before they spend it. In other words, they aren’t making themselves a valuable asset for a company and aren’t setting themselves up to be able to withstand a medical emergency or company downsize.

My advice to college graduates, and really anyone of any age or status, is to not only take those first five sets of three words of advice that Larry pointed out, but to also filter out who you get advice from. Look at a person’s life and situation before asking him or her how he or she got there.

If you’re struggling to pay your bills and you’re in deep debt, I not only encourage you to take the reigns of your life and make yourself a valuable asset in your job, whatever you do, but I also encourage you to consider filing for bankruptcy in the process.

By filing for bankruptcy, you can either discharge your debt through a Chapter 7 or lump all of it into an affordable 3-5 year repayment plan. After the process is complete, you have a clean slate and a fresh financial start to begin spending your money the right way. This would be a great time to really kick Larry’s advice into action.

At Darrell Castle & Associates, we also have a program to help you get started after a bankruptcy called “7 Steps to a 720.” This program, which is a $1,000 value but free to our clients, will teach you secrets the banks don’t want you to know in regards to re-esablishing and rebuilding your credit the right way.

If you have any questions or if you’re considering filing for bankruptcy, you can speak to one of our experienced Memphis bankruptcy attorneys, free of charge, by filling out the “Get in Touch” form below or by calling us at (901) 327-2100.