Money Matters. Dispelling the Hype.
/Today my someone sent me a JPG:
"You are not a loan"
.
I laughed at first, as my mind raced with all the ways that that could have been interpreted, but then it hit me. Is that how I saw myself?
I don't know if you fell for the hype around education, but I
totally 'drank the Kool-Aid'.
Education is important and any amount of debt is worth having it.
When you graduate you will get a job in the $Xk bracket; the recession will be over by the time you graduate.
You have to invest in yourself (even above your means) to get there.
[
.
I couldn't help it. Even the Kool-Aid realized something was amiss.]
As with every exaggeration,
there's just enough truth here to make us buy-in, but it's not entirely true. I'm writing this as it pertains to education, but this may apply to other high-priced dreams.
If things like autonomy and financial freedom
matter to you, if you envision a life where 100% of the money you earn is yours to spend, share or save as you choose, then blindly applying the above philosophies will not get you there. I'd just like to share a few insights below.
Loans. Only One Path to Education/Your Dream.
On the first matter of
"Education is important and any amount of debt is worth having it",
no one's mentioned "life after debt". Here are a few alternatives to a Bank Loan or any kind of Student Loan.
Sponsors. These are people who fund your venture, idea or education in exchange for a non-monetary benefit. If there's an organization you have a great idea to help, and that degree, certificate, will hep you better support them, the value of your certified expertise may be worth it for them. What organizations can you truly help? What is your passion?
Crowdfunding. This is a public campaign to get funding for almost any reasonable cause. If your goal is to become an entrepreneur, and your resulting service/product will help a lot of people, it would be beneficial for them to fund your education to make that happen. If someone can get over $50k for potato salad, you can get your education funded. Who will you help?
Education-Exchange. This one I admit I haven't seen happen, but if professors can further their education while teaching a course, can't you? If you're more mature or you're changing fields, chances are you're carrying a lot of expertise that you may be able to trade with the right higher learning institution to get part (or all) of your education subsidized while you teach.
I do realize that some, or all, of these options may seem "ballsy", if they've never crossed your mind. I'm guessing, however, that if one of these opportunities fell into your lap, you'd take it any day over a huge loan from the bank.
These just require a bit more work and faith in yourself.
The beauty:
Your money's your own after your education (or the idea you're funding).
You'll be doing exactly what you wanted to do after, with your education (or the idea funded).
You're propelled by the need to actually live your dream, not paying off debt.
Doesn't this sound better than 15 years' repaying debt? Why not try it?
When You Graduate... When You're Older... Why Not Now?
"When you graduate you will get a job in the $Xk bracket; the recession will be over."
Why not start earning now? Learn about business or your career path from those who've done it before. Still, learn on your own as well. Trust me, nothing sticks like the lessons you learn yourself. Honour that too.
Want to start a business? Start while you're at school. Do your trials there, so when you graduate, you have a sustainable business model.
Want to work for a specific company, or in a specific role? Create your own projects where you have to do exactly those tasks, excel at them and use those to build your portfolio. By the time you get to the interview, you'll know exactly what you're talking about.
Want to travel and see the world now? What organizations let groups travel where you want to? What can you offer to make it worth their while to take you? Deliver that.
I'm learning (better late than never) that getting creative is not just for generating art and beauty, but that
it's likely creativity that makes ordinary folks into heroes.
Get creative in learning how to love within you budget, even as you expand your budget.
And Now You. What's Your Perspective?
Everything I've spoken about above is focused on going well beyond your won financial means without going beyond your budget. It looks at creative ways to give something very valuable for the very valuable things you would like to have. What it doesn't speak to is the money side of things.
"You have to invest in yourself (even above your means) to get there."
What do you think? I believe you have to invest in yourself, and increase the means by which to do so, but I believe what you bring in should always surpass what you put out. I believe there's always a way to do both - enter contests to
win prizes
you want,
volunteer
at events where your ideal clients are,
speak
where possible.
