How has (or will) your formal education helped your financial goals? - Page 7
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  1. #91
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    I have not earned my degree yet, but I will be applying to different BSN programs for this fall! After obtaining my RN license, I plan on working at a hospital for 25-30 hours a week (or whatever is available) and probably serving on the weekends for another couple years until I have my student loans paid off. According to "indeed.com" the average salary for RN's in Florida for 2014 is $65,000. Right now I am probably only making half of that serving, and I basically only have enough money to pay my bills and nothing left over. I plan on continuing my education and becoming a Nurse Practitioner (average salary of NP's for 2014 in Florida is $91,000. That way I can afford a home I can call my own, help my parents retire early, start family, and go on VACATIONS. It will be such a blessing not to have money hold me back.

  2. #92
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    I currently attend classes when time permits as my boys come first. Granted they are in high school and are not as needy as when they were younger but I want to be available to them if they do need me. So I work my schedule around taking classes at night online. It seems to be working for now. My plans are to obtain a degree in Criminal Justice/Corrections. I would like to work with the adolescent population since I believe they also need and deserve a second chance. Years ago I had a degree in Early Childhood Education and I truly enjoyed that population. I want to remain working with students. That is where my passion seems to be. I like the research aspect as well so I don't mind doing the work for court cases and justification and fighting for them.

  3. #93
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    Interesting question. We all have certain expectations of what a degree will do for us. I am very close to finishing up an AS in Accounting Technology. Since I have years of experience in the bookkeeping field, I think the addition of the degree will open up more job opportunities for me and increase my earnings. Of course a better paying job gives me more money to obtain my goals of paying off bills and becoming debt free as well as putting money away for retirement. For me, I believe the degree is what I need to open up jobs that I have been qualified for but have been unable to apply for because a degree was required, and I didn't have one.

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  5. #94
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    I have been unable to apply to jobs for which I was qualified because I didn't have a degree. It will feel really great to get the AS in Accounting Technology and to finally be able to apply for those positions!

  6. #95
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    I am currently dual enrolled at college while going to high school. I will be graduating in May and I will be finishing my AA degree this summer or fall. I will take time off to save up some money, but I should be attending the University of California-Irvine by next spring. There, I will be moving on to get my bachelors in business for management. I hope to one day be a CEO or an IT manager, which deals with computers. I know that it is a good field because people are always in need of management. However, this degree will also help me to manage my brothers' fitness company that they are currently developing. It should at least be up and running by the time I have my degree, so I will be a big help to acheiving their goals as well.

  7. #96
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    Quote Originally Posted by JosephO View Post
    My education will positively affect my financial goals because the more education I have the more doors will be opened in my future. Not only does a degree show you have an education but it also shows that you are willing to work hard towards a goal and this is a great quality to have in the work place. Employers are always looking for the best candidate when hiring for a position and the more education and experience you have built on your resume, the more you standout to the potential employer. My current plan is to finish my AA after this semester then transfer to a state school for Business and then enter in to corporate America. I am already working towards building my resume by working at a research company and doing part-time Promotional work for companies in central Florida. Having two jobs and being a full time student is challenging but it is helping me learn to balance multiple schedules and keep me focused on creating a bright future for myself and one day my family.
    I have similar goals as you! I am finishing up my AA within the next semester and will be moving on to obtain my bachelors in business. I completely agree with you, the more education you have, the more doors that willl be opened. A degree in business is not my only goal. I want to be a student throughout my life and learn as much as I possibly can. After a few years in the business field, I hope to go into a career in the healthcare field. I don't know what other career paths I will choose, but I don't believe we should limit ourselves to just one in our lifetime. More people should see education as an opportunity and an experience rather than a dreadful, stressful step before they can start their career.

  8. #97
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    Quote Originally Posted by JenaA View Post
    I have not earned my degree yet, but I will be applying to different BSN programs for this fall! After obtaining my RN license, I plan on working at a hospital for 25-30 hours a week (or whatever is available) and probably serving on the weekends for another couple years until I have my student loans paid off. According to "indeed.com" the average salary for RN's in Florida for 2014 is $65,000. Right now I am probably only making half of that serving, and I basically only have enough money to pay my bills and nothing left over. I plan on continuing my education and becoming a Nurse Practitioner (average salary of NP's for 2014 in Florida is $91,000. That way I can afford a home I can call my own, help my parents retire early, start family, and go on VACATIONS. It will be such a blessing not to have money hold me back.
    The health field is a great field to go into. We will always need nurses. My mom is currently an RN. She has been one for the past 30 years or so. However, recently they have cut her pay. A lot of her co-workers have been rallying about the situation for the past 5 months now. It's even been on the news. I just wanted to let you know that these things are happening due to things like the economy and Obamacare. Also, becoming a Nurse Practitioner is a very good goal! Make sure you stick to it! My mom has been saying that she'll go back to school for her BS for as long as I can remember and I can hear the disappoinment in her voice when she talks about it.

  9. #98
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    Quote Originally Posted by TaraS View Post
    I have yet to graduate yet but I know once I do I will not have to worry about finding employment or paying my bills. In 2012, I was laid off from a company I had been at for seven years. I was making great money, spending frivolously, and not saving a dime. I had the mindset of "I had plenty of time to save and I'm too young to be saving for retirement". Well with the economic downturn the company began losing clients and continued to do so. Eventually it came to the point where they had to begin layoffs. Seeing how I was an Executive Assistant to one of the owners I was kept on much longer than other positions but eventually I too was let go. How could the executive justify having an assistant when money was so tight?

    Thankfully I qualified for unemployment and even with receiving the maximum amount allowed in Florida, I wasn't even making half of what I was used too. Jobs were hard to come by and without a formal degree, even with all of my experience that closed a lot of doors. I was going to school for nursing while I was working but I didn't have much incentive to really accomplish that goal. I would take a class or two a semester. Take a semester off during our busy seasons. Once I was unemployed I realized the folly in my decision making.

    Looking back, the layoff was a wake-up call. It made me really examine my finances and my attitude towards money. I'm working part time now making just enough to cover my bills, but it allows me to fully focus on school. Once I'm finished and am working as a nurse, I fully plan to save and have clear financial goals, an emergency fund, retirement, and saving towards a down payment on a home. When I was looking for work it was scary to wonder how I was going to pay for something, I never want to have to worry like that again. I'm hoping with my education I never have to go back to that place. With a nursing degree I can work anywhere and there is always work available. While I may not be in nursing forever and will continue with my education it is something I can always fall back on if I need to.
    Your story has given me a lot of insight! I have always been very careful with my money and this helps me to realize the importance of that. My mom has always been in a lot of debt and is always stressed out about bills. Having grown up around that, and four other siblings, I made a promise that I would one day make enough to not only support myself, but allow my family to be stress-free too. I believe that when your motivation is the people you love, it's a different kind of drive. You aren't just doing it for self gratification.

  10. #99
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    I have a BSW, MSW & MPA. I love my career choice; in the beginning I had a starting salary of only 19K per year. Talk about reality & regret setting in. This was in 2001 & the job required a BSW with social work license. At least I was young & I will admit it my parents paid my rent & pretty much all of my expenses. I worked very hard and eventually accepted a job as the program director for a mental health program by the time I was 24 (parents stopped paying my expenses and rent). I stayed with this job for 6 years. About 3 years into this job I knew I had to get masters. So I got two. When I completed my masters I left that job and started working in the hospital at a salary of around 38K-not much & a little less than I was making before, but I knew the experience would be good. I also started working on a small practice of my own and have been building the practice for almost 6 years. The practice was booming (I do therapy and testing) so I gave up the hospital as I could make a lot more with my practice. I did accept a job a few years ago which required a MSW or an RN degree which pays around 70k (with a bonus from time to time) per year- for a SW doing a SW job 70K is like hitting the jack pot, LOL! I still have my practice and make pretty close to the same with my practice, so usually make around $95K-$150K per year. I control how much I make as when I want to earn more I accept new clients. Last year I made less as I simply wanted to work less, this year I will make on the higher end as we have some new financial goals. My MSW has allowed me to be in this position, my schedule is flexible. I work a lot, but because of the flexibility it’s not like I go from one work place after putting in 8 hrs. and then go to the next work place. I schedule my day as needed, I am either in my home office (both jobs my office is at home) in a client’s home, in a court room or the hospital. So it works very well. I realize I am not the norm for someone with degrees in SW, but it just goes to show that you can work hard, do something you love without settling for a career choice you hate or are only interested in for the money. I make an effort to become certified in as many areas as possible so that I have more opportunities to expand my practice. At some point I will go back to only my practice, but I truly love the other job and having the weekly pay check is a plus when I am on vacation or take some time off. My MPA has done nothing at all for me, but maybe it looks good on paper that I have two maters. I obtained the MPA just because I thought why not. I am sure if I need the MPA to work for/benefit me then I will. I did have student loans for undergrad as at the time my parents were unable to help me. However they paid for the 2 masters and I paid all of my undergrad loans off myself (my folks offered to help me, but I declined as I felt they had already done more than their fair share to help me) I am a big advocate for education and continuing education!

  11. #100
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    I have a degree in finance. This kind of knowledge (economics, finance math,...) is good for everyone, because all people use money, right?
    Every person will come to moment when she/he either need a loan or invest it somewhere. And I have now knowledge to make these decisions on my own.
    Don't need to think: is this guy giving me a good advice, or is he just a salesman selling me crap?

  12. #101
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    Quote Originally Posted by anitarodgers View Post
    I have a degree in finance. This kind of knowledge (economics, finance math,...) is good for everyone, because all people use money, right?
    Every person will come to moment when she/he either need a loan or invest it somewhere. And I have now knowledge to make these decisions on my own.
    Don't need to think: is this guy giving me a good advice, or is he just a salesman selling me crap?
    I'm glad you feel that your education gives you practical life-tools, and not just an opening for a job - that's very healthy.

  13. #102
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    On a personal level, I don't know that it's really done a darn thing.

    My degree is in elementary education and I have a middle school science endorsement. I taught 6th grade in an inner city school for about 6 months. One of my kids threatened to shoot me (and then left the school saying he was going to get his daddy's gun.) I left, and haven't taught since.

    Through school I worked in a retail photography studio. I LOVED it. Seriously, my favorite job EVER. After I quit teaching, I couldn't afford to keep that job (maxed out at $10 an hour) so I went to work at RCI in the call center. I did that for 5 years and it was all right, the perks were AWESOME. Then, I went on to work at and then manage a different retail studio. Then I was an SAHM for a bit, and then worked a basic retail cashier position for a few years, and am now a SAHM again. I also do photography work on the side. None of these jobs required a degree. The only job I was promoted in, and the only time I desired a promotion, was the section retail studio, and no degree was required for promotion either. In fact, most of the managers in the company did not have degrees.

    So, I guess for my personally, my degree was not helpful at all.

    Now, for DH it's a whole other story. DH went from high school to the military. We won't discuss the huge mistake he made in a couple of the choices he was presented with in the military, and then when he got out, he went to work as a correctional officer. He did that for YEARS, then worked at RCI with me for a few years when he started going to school. He has been through a few jobs since RCI, and graduated with his BS in mechanical engineering in 2012. He's now a design engineer and his salary is the same as it was when he and I were both working full time and I was working OT hours managing the studio at Christmas time. For DH, he would absolutely not be where he is, and really our family would not be where we all are, without his degree.

  14. #103
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    I'm so glad I recommended this forum to my personal financial planning students during Spring semester. I'll do the same this Fall and hope many more have the benefit of reading lots of your discussions. I know a few of them stayed on and I continue to recommend this site as a "go to" site to gather information on frugality and solving financial challenges.

    I wish you all could read our discussion that evolved from their experience here. A big topic was "choose your major wisely because someone is paying for it."
    Kim
    The Lord will provide

  15. #104
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    It will put my in a position to get a better job so I can give up freelance writing for a regular paycheck which will help my family immensely.

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