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Financial advice from a new Tech grad

May 23, 2009

Life in Austin can sometimes be annoying for a Texas Tech grad, what with so much of the city's attention directed toward another Lone Star State university that happens to call the city home.

So you can understand my excitement when I opened today's paper to see, on the front page of the business section, an article about Texas Tech's fine financial planning curriculum, popularly known as Red to Black (handy, isn't it, that our school colors are scarlet and black?), and this year's top graduate of the program.

Of course, the newspaper of which I speak isn't the local one, but rather the New York Times. But such national recognition actually makes it that much better.

Texastechuniversitylogo In "Financial Wisdom From One Grad to Another," Your Money columnist Ron Lieber talks to Madison Nipp, who graduated Texas Tech's financial planning program with the highest grade point average of anyone in the major. That's certainly a laudable accomplishment for a graduate of what Lieber describes as "arguably the best undergraduate financial planning program in the country."

Nipp already has a job lined up; next month she'll be in San Antonio counseling clients of financial giant USAA on their portfolios. But she gives Times readers a quick tutorial on some personal finance basics.

Nipp's advice, writes Lieber, is based in part on personal experience and "is useful for people far older than new college graduates."

Here are the high points:

  • Credit cards are not inherently evil.
  • Balance your checkbook.
  • Budgets are not complicated.Beware of Daddy's wallet.
  • Don't buy a home.
  • Don't mess with taxes.

I swear, that final financial caution is directly from the article (Thanks, Ms. Nipp and/or Mr. Lieber!).

For anyone with any familiarity with financial planning basics and a smidgen of common sense, the advice isn't groundbreaking. But it's worth repeating, so check out the article for elaboration on each point.

And congratulations to Ms. Nipp and all her classmates, past, present and future, at my alma mater, Texas Tech University.

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TO WRAP UP 2026

It’s over! With October’s extended filing deadline behind us, it is now time to focus on year-end moves to reduce your 2026 tax bill. 

You’ll find ways to do just that on the Tax Tips page (see the More Tax Posts drop-down menu at the top of the blog), as well as the separate tax tip pages for each month, notably October through December. If you’re on the Tax Tips page, you’ll find a monthly list at the end of this column. If you’re on another blog page, you can head straight to the October tips; at the bottom of that tips page you’ll find links to all the other 11 months’ collections of tax advice.

Not to spoil what you’ll find in that tax advice, but it does cover such things as tax deductions for charitable donations, investment moves that could reduce tax due, and ways to max out your tax-favored retirement savings. 

Finally, as the year winds down, things get hectic. There are lots of other things to occupy our time, like the much more fun upcoming holidays. But don’t lose sight of taxes, since timing is key. To be of use, most tax moves must be made by the end of the tax year. That’s Thursday, Dec. 31, which also is the last business day of the year. 

So that you don’t miss that final tax year deadline, also keep an eye on the countdown clock below. It will keep you on top of just how much time is left to make important, tax-saving moves. (Note: I’m in the Central Time Zone, so adjust accordingly for where you live.)

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