College graduates come out with hopes, aspirations and debt. That’s right, debt. College graduates are graduating college with an average of 3,262 in credit card debt. In addition to credit card debt, students are also graduating with student loans ranging from $10,000 to $52,000 or more. It is a common misconception that after graduation these debts will be easy to pay off. Graduates often believe they are going to start making the “real” money that will provide them with everything they need and then some.
The harsh reality is that once graduates factor in bills and expenses they are not left with much. Factors such as, health care, 401K deductions, income taxes, car payments, auto insurance, rent, utility bills, student loans, credit card bills and food expenses. These expenses can be financially crippling to graduates, forcing them to cut back as much as they can. Unfortunately, some graduates are looking at auto insurance as an unnecessary expense. In reality, it is far from unnecessary. Not only because it is illegal to drive without auto insurance in all 50 states but the risk one takes without coverage can prove to be detrimental to ones finances.
On the other hand, this doesn’t mean you can’t save on auto insurance. People all over the nation are overpaying on auto insurance, whether its because they have the wrong policy or the wrong carrier. Don’t make this mistake! MassDrive can help you compare policies and carriers until you find the right fit. Our agents would be happy to field any questions you may have free of charge. Insurance can be confusing, so let us help you!