When one is a Young Urban Professional, recently graduated from college, there are a series of things expected to happen. The order may vary, but in general the steps are:
- Build an emergency fund.
- Save for retirement.
- Pay off debt
- Student loans
- Auto loan (one is usually expected to have a car in order to get to work)
- any Credit Card debt one has acquired
- Save for a down payment and buy a house
- Furnish said house
Every person is different, every situation is different, and so some of these steps may be easier for some people than others.
In addition, the instant one is gainfully employed, the salespeople come out of the woodwork with opportunities.
Homeowners, in particular, are targeted for home security systems, water softener systems.
Many YUPpies come from solid middle-class families. They may have little or no college debt, if their parents paid for it. They may have help furnishing their first apartment, or first home. Many had a good set of clothes when they went to college, and continued to keep it up-to-date and professional as they studied.
I know one family, whose grandmother passed away not long after we met. They inherited her house, sold their own and moved in, saving them a mortgage.
Not all have these opportunities. Some have more help than others.