Try The Debt Free Approach To Studying

If you’re deciding whether or not to go to college or university you should know that further education is proven to increase your potential earning power by more than $19,000 per year according to the U.S. Census. There’s clearly then an advantage then to investing in yourself and your chosen studies.  But this investment leaves a lot of young people with huge debt and financial commitments before they have even secured their first job and so for some the thought of having to pay off so much debt so early in their careers is just too much to bear.

However there are some things you can do to stop yourself running up huge debt whilst studying.  Here are 7 of the best ideas for studying without breaking the bank.

  1. Consider AP or IB Level High school courses; Advanced Placement or International Baccalaureate courses are more demanding than traditional high school classes but they offer college-grade points that mean you could reduce a future course by up to a year.  This values them at several thousands of dollars and they can be studied whilst still at school.  You will need excellent grades or have a teacher’s recommendation to qualify so work hard and you could be financially better off.
  2. Study for college whilst in high school; if you don’t qualify for AP or IB courses then you can still study towards college whilst you’re in high school.  There are plenty of online college courses to choose from or you can choose to study at a community college whilst still in high school and work towards knocking a few semesters of your future college course.
  3. Find a free college; believe it or not some colleges in the US actually offer free education so it’s worth doing your research. You can find 10 of the best free colleges in the US here
  4. Choose a prestigious university; this might not sound like good financial advice in terms of the cost of fees but many of the big 10 universities in the US have big financial donors that are willing to put their hands in their pockets to help bright students who might not be able to afford to attend university otherwise.
  5. Be honored; if you have a strong academic history you could apply to the honors programme at the university you wish to study at. If you’re successful you could get part of your tuition paid and/or money towards books depending on the terms of the individual institution.
  6. Earn a scholarship; it is good practice to apply for a scholarship as if successful you could get your courses paid in full.  There are many different types of scholarships and they are very competitive so it’s worth putting in the work to get one secured. You can find out more information on at Scholarship Finder.

 

Get a job; the most obvious way of raising money whilst studying is to work both through high school to raise funds for future study and during further education to continue to pay the fees. You could also choose to combine work and study by getting an employer subsidize your fees.

What To Do When You’re Suddenly Out Of Work

Becoming rather suddenly unemployed is a horrible feeling. If you’ve been fired, it’s demoralizing, but even if you’ve quit the job, entering the unemployed world can be rather daunting and overwhelming. If you’re still employed but you’ve found yourself out of work due to an injury or illness which might take you weeks or months to overcome, you have the comfort of job security but the same financial fears as any other unemployed person. Knowing how to handle this brave new world is difficult, but here are some financial tips for those of you who have suddenly found themselves out of work and in need of monetary stability.

Find new work.

This only applies if you’ve been fired or quit your job, obviously, but this should be the first thing on your agenda. As explained on diversifiedfinances.com, you need to be dedicating a certain amount of time per day to searching for jobs, as it’s a lengthy process, and, even if you wanted some downtime after the stress of your previous employment, you’re going to get that downtime simply by waiting for employers to respond to your applications and dealing with rejections until somebody hires you. Waiting to get started is simply going to leave you in a financial mess for even longer.

You need to be using all avenues available to you, as well. You need to be signing up to job sites, walking to your local job center to see what suggestions they have and contacting any individuals with whom you might have connections in your respective industry. You don’t need to spend the entire day doing this, but you should be doing it every day in order to ensure you don’t miss the perfect opportunity. A decent role at a decent company is likely to be snapped up by the best of the best candidates very quickly.

Compensation.

If an injury or illness has only put you out of work temporarily, then recovering from such a financial blow may not be as difficult as you might think; if you’re only on sick leave for a few weeks and you know you’re returning to your job afterwards, you at least have the security of knowing that you’re not unemployed. The only problem is managing your finances whilst you recover from your injury or illness. Luckily, there are ways to support yourself through your employer and the state.

There will hopefully be the opportunity to receive sick pay from your company whilst you recover, and you could also check out options such as mydisabilityattorney.com if you want to make a claim for benefits to which you might be entitled. It all depends on your specific illness or, if you’re injured, whether the accident was your fault or not. If it was a workplace-related injury and it was the fault of the employer, there may be further financial routes open to you if you take the legal route to resolving the matter. Of course, you could simply discuss it with your boss if you want to avoid conflict.

Budget.

As suggested over at wisebread.com, budgeting is your new friend when you’re unemployed, and it might teach you some clever tricks for life back in employment too, given that this is hopefully just a temporary bump in the road. There are so many expensive things on which we waste our money, and you could take this time off work to draw a clear line between the necessities and luxuries in your life. You might be surprised how many things you could cut out of the weekly food shop.

How You Can Deal With A Sudden Drop To One Income

When you live with someone else, perhaps just the two of you, or maybe in a family, you get used to two incomes. You need them, for all of your outgoings, to look after the kids, and provide the life you are used to. However there are some instances in life where one income is suddenly cut. For whatever reason. Maybe they have been laid off, or perhaps they aren’t well. You have to cope with the drop in money. It is jarring at first, shocking even, yet there are ways you can cope and get through it. These tips can help you do so. You may have done or considered some of them, but think about the other and how they can help you through the difficult time.

In the first instance you need to calculate what is owed to you. Was your partner made redundant? Then there will be redundancy pay involved. Ensure they get it. Were they injured in an accident? Compensation. If they are disabled now they may get some money from the state, if you need help getting what is owned then check out mydisabilityattorney.com. You need to latch onto all kinds of owed income as fast as possible.

With one of you out of work now comes the time for harder decisions. Do you have two cars? Then consider selling one of them. You won’t need it anymore after all so get rid of it. You can use the money to help you survive until they have found another job of some sort. You’ll need to cut back on other things too. Look at your subscriptions, cut back on a few of them. There will undoubtedly be things you don’t use that often. Cut back on the extravagancy, eat in instead of out etc. Your income has potentially been cut in half, or even more if your partner earned more than you. This cost cutting comes harder to some than others but it needs to be done if you want to stay in the red and not get yourself into debt through loans and credit cards etc.

Your partner may be down and dejected to. For whatever reason, they are out of work. In this case you need to be sympathetic and also encourage them into finding new work. It can be done if you try with them. There are dozens of opportunities out there. Perhaps they could use the downtime to go back to university and study, pursuing the career of their dreams. There are many routes to take. If you are desperate for cash your partner can look to other ways of making money. There are dozens of ways to do this online. Although there are many scams out there there are also legitimate ways to make money. If they have a skill then they can use it for an income. If they can write then perhaps they can become a freelance writer, for example. You’ll be fine so long as you balance the books and be careful.