Education Matters When It Comes to Your Money

By: Martin Dasko on January 13, 2016

“Why would I waste four more years in school?”

That’s what I told my parents back in the day. I was a huge punk as a teenager. I gave my parents lots of grief. I certainly didn’t want to attend college. I ended up going to community college first and then I went to university after. I actually enjoyed my run because I studied something that I love (business).

I know that it’s easy to bash college because of the costs and because there are many graduates struggling to find work. However, you can’t blame the system just because you studied something that isn’t in demand.

And, even though you might not think it makes a difference, the truth is that education matters to your money.

Education can make you more marketable

These days it feels like you need a degree and an Olympic gold medal for every job. Why would you not want to add a degree to your resume when looking for work? You become more marketable with everything that you do for self-improvement. That’s one of the biggest reasons that education matters – your long-term earning power is tied up in your marketability.

You can find a high paying job if you study something in demand

You don’t have to struggle to find a job after college. If you do some research in advance, find a work term, and make some connections, you can have a job waiting for you.

According to Time, the income gap is pretty significant:

“High school graduates earn about 62% of what those with four-year degrees earn, according to a Pew Research Center study. In 1979, people with only high school educations earned 77% of what college graduates made.”

According to Bloomberg:

“New college graduates start out earning $5,000 to $6,000 more than high school graduates, and the gap grows to $25,000 after 15 years.”

I don’t know about you, but I want to make more money. If you study something specific and there’s work in the field, you’ll be glad that you went to college. You can’t complain about the results you didn't get with the work you didn’t do.

Don’t just choose any major. Figure out something that will pay you, and pursue that.

College teaches you how to handle assignments

I learned all about the last minute and getting things done in college. I became a professional at staying up all night to finish assignments. I almost wanted to quit a few times, but I stuck it out. These valuable lessons have helped me in my freelancing career.

Sure, it’s easy to scoff at student loans and state that college isn’t worth it. However, you might be surprised at how much education matters – and what you can do to keep student debt to a minimum.

Are student loans worth it?

This is where there’s an issue. Student loans become a huge burden that forces you to delay your life. We all know someone struggling to pay off their student loans in their late-20s. Getting an education doesn’t mean you have to get into debt. You can be smart about college tuition and find work after you’re done.

Do a few quick searches online to see if there’s any work or money in the field. Getting student loans can be an investment if you know you’ll have a high-paying job waiting. It’s best to minimize them, but it doesn’t have to be a bad thing.

Really think about what you want to. Getting the education and skills to help you make more money, and better manage it, can benefit you in the long run.

Image Courtesy of Adobe Stock

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