Ryan Elantri, part of Pennsylvania State University’s Class of 2017, is a young professional with diverse financial experience. He was given the opportunityalong with forty other students to participate in a Wall Street Boot Camp and has worked abroad in Shanghai, China.
While planning for a career in international business and finance, Ryan Elantri has had time to examine his financial status and begin building personal wealth.
If you, too, would like to build personal wealth and re-think your financial status, a budget is the perfect place to begin. Making a budget with modern tools is easy. Following one, though, can be challenging. Tips like the ones below will make it easier to stick to your numbers:
If you have the option to deviate from your budget, you’re more likely to overspend. Make impulse buys more difficult with tactics like leaving credit cards at home, setting spending limits on your checking accounts or paying for goods in cash.
Whatever you must do to remove your overspending options, do it. Do not, however, lock your finances so tightly that you can’t weather emergencies when they arise.
Think Big Picture
Following a budget isn’t always fun. Whether you’re in debt or simply working to save money, it helps to remember the big picture.
Are you working toward early retirement? Buying a home? Starting a business? Keep your future goals at the forefront of your mind every time you spend.
If you’re inspired by young finance students like Ryan Elantri and want to take control of your wealth, start today. Following a budget is the first step on a long and rewarding path.
In 2015, Ryan Elantri was selected from a pool of four hundred applicants to be part of a forty-student cohort that took part in a Wall Street Boot Camp at Penn State University. He attended sessions on a number of topics, including investment banking, securities and wealth management. The latter is of particular interest to high earners who wish to protect their finances.
If you are in this position, consider the following before deciding on a wealth management firm.
Don’t Focus Solely On Cost
While it is important to consider your own budget when selecting a firm, focusing solely or primarily on the cost you will incur may prevent you from seeing the benefits that more expensive firms can offer. While cost should be a factor, you need to dig a little deeper to find out what the firm will do with your money and if a higher cost will pay off later on.
Before you sit down to speak to any wealth management professionals you should do your due diligence to verify their credentials and ensure they can offer the services they promise to you. Furthermore, it is important to establish at the interview stage if the person you are speaking to will be the one handling your account or if it will be passed to somebody else once you sign up with the firm.
No decisions should be made on impulse. Assuming your due diligence checks out, you should also seek referrals from people you trust to find out more about the candidate’s work style.
Ryan Elantri is developing his skills in wealth management through his studies at The Pennsylvania State University.
Follow Ryan Elantri on Facebook: https://www.facebook.com/ryan.elantri
Ryan Elantri is currently pursuing his Bachelor of Science in Economics at The Pennsylvania State University and plans to enter the finance sector upon completing his degree.
To support his efforts, he has already started building a résumé that covers everything from managing hedge funds to investment banking. Success in the latter is often hard to come by, so keep this advice in mind to get a head start.
Networking is an important tool in the arsenal of all financial professionals, so you should make an effort to build as many connections as you can. Speak to people who have experience in investment banking and absorb the advice they provide. Make your intentions to enter the profession clear and work on maintaining the relationships you form with the aim of creating opportunities.
Investment bankers, particularly those new to the industry, will often be expected to be flexible with their time, which usually means working very long hours. A lot of the number-crunching and analysis takes place at the early stages of a professional’s career, and proving you have the stamina to do it without complaining or burning out can be a big step in the right direction.
There is some truth to the idea that others will remember you more for your mistakes than your successes. One little error can set you back tremendously in your efforts, so try to avoid mistakes wherever possible by always paying attention to details.
Ryan Elantri is a student at The Pennsylvania State University. Follow Ryan Elantri on Below Social Media Profiles:
Ryan Elantri is currently a student at The Pennsylvania State University, where he is majoring in both Economics and Mandarin Chinese with a view to entering the financial sector following graduation. He has already built an impressive résumé as a college student, which includes working as a China Summer Analyst for BoardRoom Limited Shanghai in August 2015. This means Ryan is already developing the skills that young professionals need to succeed in finance, which include the following:
Strong Communication Skills
Success in finance is often as dependent on who you know as what you know. Building a network of fellow professionals will be crucial, because this provides you with access to a wellspring of information, in addition to allowing you to cultivate future opportunities. Strong written and verbal communication skills are needed so you can build these relationships.
Much of modern day finance revolves around using computer programs to identify trends and make quick decisions. This means that professionals must be computer literate to the point where they can quickly pick up on the specifics of any new software they are introduced to.
Financial professionals are often called upon to analyze complex situations so they can make decisions that will benefit their employers and clients. This means being able to spot trends and patterns, often as they are developing, and having the ability to sift through large amounts of data to find the information that is relevant to their goals.
Ryan Elantri is a student at The Pennsylvania State University.
Also Read: Ryan Elantri: The Basics Of Macroeconomics