AI and budgeting are the biggest challenges for newer graduates, experts say

May 29, 2024, 12:23 PM | Updated: May 30, 2024, 1:33 pm

SALT LAKE CITY — With graduation season in full swing, the “real world” challenges graduates face may look a little different this year.

Landing the job, making money, and tracking it: These are important life skills for graduates that go hand in hand, as it does not matter how much money one makes if one is unable to manage it.

However, getting that position might look slightly different from a few years ago, as artificial intelligence started impacting job searches.

Angela Ashurst-McGee knows this, working on resumes for a living at Upword Resume.

She said one of the big ways AI affects the job search is through applicant tracking systems — ATS for short — which is any piece of software HR uses to track, weed out, and manage all incoming job applications.

“Customizing and matching up your resume’s keywords between job description … so maybe your resume mentions ‘customer service’ several times, but the job description uses the phrase ‘client experience,’ so you are going to make that tweak,” Ashurst-McGee said.

Once the job is landed and cash flow is made, the next step is to manage the money with a budget.

Jenny Groberg, CEO and founder of BookSmarts Accounting, knows how numbers and money works.

“You need to write out your life. How much is your rent or your housing? How much should you budget for food?” Groberg said.

With 80% of Americans living paycheck to paycheck in the 18-29 age range, Groberg said young adults stack about $2,900 worth of credit card debt. Couple that with inflation and managing money, it’s something many graduates face right out of the gate.

“You need to budget and you need to make sure you’re saving at least 30%. If you’re tracking it, and you’re consistently going over that budget every month, then you know that you have a problem and probably need to increase your budget. Then you’d line out your utilities, and then you might line out your gas and your books and things like that,” she said.

The idea is that, month to month, one can find and tune a budget. Another word of wisdom: Ask questions! Look to others who you admire or want to learn from and ask for advice in making smart networking and money moves.

KSL 5 TV Live


Egyptian Theater at Sundance Film Festival...

Mary Culbertson

Atlanta pledges $2 million in bid as new Sundance Film Festival destination

The city of Atlanta bid $2 million to the Sundance Film Festival in hopes of swaying it to choose the city as its new home destination.

17 hours ago

A SkyWest Airlines jet approaches Salt Lake International Airport on Sept. 24, 2022. SkyWest announ...

Carter Williams,

Flights between St. George and Los Angeles to resume after 4-year delay

St. George-based SkyWest Airlines announced this week that daily flights between St. George Regional Airport and Los Angeles International Airport will return this fall, through United Express, one of SkyWest's different airline service partners.

3 days ago

FILE - A line of unsold 2018 Cooper Clubmen sit in a long row at a Mini dealership, March 30, 2018,...

Wyatte Grantham-Philips, AP Business Writer

Car dealerships are being disrupted by a multi-day outage after cyberattacks on software supplier

Car dealerships across North America have faced a major disruption this week.

4 days ago

Snelgrove Ice Cream, an iconic Salt Lake City brand, is making its comeback. (Snelgrove Family)...

Eliza Pace, KSL TV

Snelgrove Ice Cream, an iconic Salt Lake City brand, is making its comeback

In 1929 Snelgrove Ice Cream was founded by Charles Rich Snelgrove in Salt Lake City, Utah. Now Lindsay Snelgrove seeks to continue the legacy.

4 days ago

Salt Lake County Mayor Jenny Wilson, talking about the proposed changes that are happening to downt...

Carole Mikita and Michael Houck, KSL TV

‘This plan is ambitious’: Salt Lake County Mayor Wilson talks about the revitalization of Salt Lake City

Salt Lake County Mayor Jenny Wilson spoke to KSL TV about all the proposed changes that could hit downtown Salt Lake City.

4 days ago

A silhouetted man sitting in a chair on a phone call....

Matt Gephardt and Sloan Schrage, KSL TV

New federal data shows favorite methods of scammers targeting Utahns

Over 26,200 Utahns reported getting hit by fraud to the Federal Trade Commission last year. And one out of five of those Utahns lost money to imposters.

4 days ago

Sponsored Articles

Photo courtesy of Artists of Ballet West...

Ballet West

The rising demand for ballet tickets: why they’re harder to get

Ballet West’s box office is experiencing demand they’ve never seen before, leaving many interested patrons unable to secure tickets they want.

Electrician repairing ceiling fan with lamps indoors...

Lighting Design

Stay cool this summer with ceiling fans

When used correctly, ceiling fans help circulate cool and warm air. They can also help you save on utilities.

Side view at diverse group of children sitting in row at school classroom and using laptops...

PC Laptops

5 internet safety tips for kids

Read these tips about internet safety for kids so that your children can use this tool for learning and discovery in positive ways.

Women hold card for scanning key card to access Photocopier Security system concept...

Les Olson

Why printer security should be top of mind for your business

Connected printers have vulnerable endpoints that are an easy target for cyber thieves. Protect your business with these tips.

Modern chandelier hanging from a white slanted ceiling with windows in the backgruond...

Lighting Design

Light up your home with these top lighting trends for 2024

Check out the latest lighting design trends for 2024 and tips on how you can incorporate them into your home.

Technician woman fixing hardware of desktop computer. Close up....

PC Laptops

Tips for hassle-free computer repairs

Experiencing a glitch in your computer can be frustrating, but with these tips you can have your computer repaired without the stress.

AI and budgeting are the biggest challenges for newer graduates, experts say