No More Mac 'n Cheese!. Lise Andreana

      In other words, do the math: How much is your education going to cost, relative to the income potential? For example, dental hygienist versus dentist: The typical dental hygienist will earn $40,000 to $70,000. A dentist may make five times as much. Consideration must be given to the higher level of academic achievement required, the number of years before becoming licensed to practice, and the amount of debt upon graduation. Both of these choices are a solid career choice.

      Do not ignore college and trade school offerings. Some of these offer solid career options with good earning potential. If you think that skilled trades are limited to carpenter, electrician, plumber, or welder, think again. A quick web search for skilled trades turned up an alphabet soup of viable options, including the following career options: accounts payroll administrator, dental chair-side assistant, legal assistant, massage therapist, pharmacy assistant, and video game designer.

      Many trade programs run from one to four years, including time spent as an apprentice. Students who are in an apprentice program earn a modest living while they train for their future profession. Sometimes employers sponsor the students by paying for books and tuition. This is a good opportunity to show a potential future employer your skills and suitability for full-time employment.

Avoid the “ugly dance.” The ugly dancer does not have a clear picture of where he or she is going. Without an end goal in mind, he or she takes two steps forward, changes direction, heads four steps back, does a 180-degree twirl, and ends up facing the opposite direction. The ugly dancer lacks a clear plan for success. These are the students you may have read about, who graduate with a major in “basket weaving” and $100,000 in student loans. Not realizing the job prospects and pay scale for basket weaving means a lifetime of paying student debt on a barista’s paycheck. It is important to know that student loans in both the United States and Canada are not necessarily forgiven if you declare bankruptcy.^[1] Student debt could be with you for a very long time.

      The smartest students are strategic. They take a strategic approach to reach desired career goals. In contrast to the ugly dance students, the strategic type will spend considerable time researching not only his or her course options but also the career paths available after graduation, the expected pay scales, and potential employers. He or she conducts research online, talks to guidance counselors, consults older friends already in the workforce, and seeks professionals in his or her fields of interest. The strategic type finds the organizations doing the type of work he or she is interested in. He or she contacts these organizations, asking to speak to someone who can provide advice on what he or she should be doing now so he or she is ready to enter the workforce upon graduation. Most people like to be helpful, so contacting people in the industry is a surprisingly useful way to get acquainted with a potential future employer.

      The strategic approach is to define the desired career goals and develop a strategy for success. The following are some of the things a strategic student would consider.

      • Evaluate the skill set and academic abilities: Most students choose courses based on their skill sets and academic ability, but ask yourself, “Do I have the discipline to complete the program I am considering?” and “Will I persevere when times get tough?”

      • Understand how much time and money will be required: Are you prepared? How many years will be devoted to pursuing your degree? How much will it cost? Where will the funds come from?

      • Use the principal of Other People’s Money (OPM): Take the time to research and apply for all available scholarships and bursaries. There is money out there, it just takes a little effort to find it. Money from scholarships and bursaries means less debt after graduation.

      • Estimate the level of debt at graduation: The strategic student attempts to minimize the total amount of debt. He or she is self-reliant, keeping debt under control with part-time work. This type of student plans in advance and has a good idea how much debt will be required to complete the desired program. He or she formulates a repayment plan.

      • Ease of entry into the workforce: Though it is impossible to fully know the market in advance, this student has considered the market for his or her new skills. This person asks, “If employers are hiring graduates, what are the expected pay scales and future career opportunities?

      • Know the payoff relative to cost of education: This is the big one. Does the ratio of total cost compared to projections of future income make this a wise choice? Education is expensive and is becoming more so every year. It is one area of our economy in which costs are increasing faster than the rate of inflation.

If you are unsure of your unique ability or have difficulty describing your most valuable skill set, you may wish to take the online Kolbe Index A test.^[2] Discover your natural unique ability and mode of operating. I highly recommend this short quiz of 36 questions (there is a fee) and have personally used it for more than a decade to better understand my family, employees, and potential employees’ instinctive problem-solving methods. The results will provide you with insight into your own unique strengths as well as valuable information which you can use when trying to choose the educational program to match your unique mode of operating. The Kolbe A Index test results provide examples of professions and occupations which suit your unique ability.

      You will find the information in this chapter easier to apply after you read Chapter 6, “Set Goals”; and Chapter 7, “Create a Budget.” Once you have read these chapters and completed the worksheets, you will have a clear picture of where you are today and what needs to be done to reach your education goals.

      2. Part-Time Work and the Student

      The local newspaper is delivered to my home each and every week as faithfully as the daily mail. Every week a young boy carefully places the paper between the front door and the screen. The first week of each month he arrives just before dinner, when he knows his customers will be home, to collect for the preceding month. His smile lights up the doorway, and his sincere thank-you warms my heart. I have my eye out for this future young man. In him, I see the businessman of tomorrow, who will attract record results for his employer with his attention to detail and the level of service he provides. He is eight years old!

      There is no such thing as a “menial” job. Every job experience you have will build skills for your future success. Set the stage for future career success with part-time work while in high school or university. The actual work can vary. It does not matter if you stack shelves at the local grocery store, flip burgers, wash dishes, move refrigerators, paint homes, or cut lawns. Each and every one of these jobs will help you build invaluable skills that you will use in future workplaces.

      There are many advantages to working while still a student, the most immediate of which is cash to pay for your hobbies, and cover the cost of books, transportation, and out-of-pocket expenses.

      Other advantages include:

      • Independence and cash of your own to provide you with the freedom to make financial decisions of your own choosing.

      • Reducing the amount of student loans required to complete your education.

      • Increased confidence. Even working at low-paying jobs will provide you with the opportunity to better understand your unique skills and the value of your contribution to the workplace.

      • Learning the value of teamwork.

      • Becoming familiar with workplace demands and employer expectations.

      • Learning about a career before committing to it.

      • Acquiring skills to help sell yourself to a prospective employer. Practice your future job hunting and interviewing skills early and often by applying for part-time work while still a student. Doing so means you will be better prepared for an important career interview. You will understand what to expect and how to