Archive for category College

10 Jobs that Require No Bachelors Degree

collegesucks51jv5t4g0fl_sl160_

Attention high school grads: You don’t have to rack up a mountain of student loan debt in order to secure a good career.  And you don’t have to go to the School of Hard Knocks, either.  A recent Yahoo! Hot Jobs article listed ten jobs that require no bachelor’s degree, meaning you’ll keep your education borrowing to a minimum.

Source: Yahoo! Hot Jobs: Good Pay Without a  4-Year Degree

Here’s the list, with the median annual pay for someone with 3-5 years’ experience, plus my two cents worth:

Network installers, network administrators, computer systems administrators - $49,801

This involves computers and wireless networks.  Looks like a pretty broad description, as I see these as separate jobs.  I know that our network administrators don’t get their hands dirty by pulling cable and lifting ceiling tiles.  I wonder what the breakdown is between the different categories.

Police officer - $47,485

Some departments take people right out of high school.  A clean record would help speed the acceptance process along.  You probably have to pass a standardized test, also.  A nice pension and benefits, but the risk of getting shot would move this one down the list for me.

Court reporter - $47,275

As the article says, job security.  We live in a litigious society.  Is this a fancy name for the stenographer who types every spoken word?  I know there must be plenty of downtime due to frequent court recesses, not to mention long lunch hours.

Clinical laboratory technologist - $47,081

I love all of the CSI-type TV shows, but I wouldn’t want to be picking through someone else’s dead flesh and guts.  Dressing a deer is one thing, but I don’t think that I’d be comfortable handling human tissue samples.

Heating-ventilation-air conditioning (HVAC) installer - $44,814

I know someone who does this for a living.  Crawling around in attics during the summer doesn’t sound appealing.  I sweat.  Alot.  I’d lose enough weight to look like a normal person.  I’d probably be healthier, too.

Computer numerical control - $44,629

This one’s good if you like working with robots in a manufacturing environment.  I was always amazed by the CAD/CAM workstations at one of my previous jobs, but the noise was deafening.  I’ll stick to the office side of manufacturing.

Solar energy systems installer - $44,460

This is a potential boom industry.  My company has increased their investment in energy-saving equipment, and the federal stimulus bill has created a demand for these jobs.

Correctional officer - $42,795

I worked with an engineer several years ago who had taken the county corrections officer’s civil service test while he had been between jobs.  He was called a few years after taking the test, and wound up accepting the position and going through the academy.  His name appeared on the cover of the local paper as one of the top overtime earners in the county.  He made close to $100 thousand in overtime in one year!

Security and fire-alarm systems installers - $41,417

As the price of security systems drops, the demand goes up, requiring more installers.  Training can be done in two weeks for about $1,000.  That’s a quick turnaround time, and allows you to start earning money right away.

Aircraft mechanic - $39,584

This job has better pay than an auto mechanic, and an unending demand for air travel will provide a steady growth in this field.  I wonder if they fly for free?

Can you think of any other jobs that weren’t listed in the article that meet this criteria?

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How To Save Money on College Textbooks

library books
Photo by timetrax23

My son starts college next week.  Obviously, he needs textbooks.  In an effort to show me just how far he’s come with taking on responsibility, he told me he’d handle his book purchases.  He’d use the money that he earned over the summer.

Holy Geez!

He visited the online bookstore, and was overcome with sticker shock.  Textbooks are very expensive at the college bookstore, even if they’re used.  As a child of the Online Generation, he started poking around the web for a bargain.  He tried Amazon, Powell’s, and Alibris.  He finally found what he needed at Half.com.

A solution

Here’s a chart that shows the savings between the bookstore’s prices and the Half.com prices:

textbooks

Note: One English book and one Art book were new editions, so there wasn’t a used book available.  For the other three books, the used editions were out of stock at the school bookstore.  The Half.com price also includes shipping, while the bookstore’s prices do not.

A windfall

So, he saved over one hundred thirty dollars off the bookstore’s price for new books.  That’s over 33 percent savings!  Not bad comparison shopping for an eighteen-year-old kid.  That will buy him several tanks of gas for his car.  Or a few pizzas while he’s burning the midnight oil.  I’m glad he didn’t wait until the first day of classes to get busy with his book-buying.

A take-away

My son did so well using Half.com, that I’m tempted to use it for any major purchase that may arise in the future.  So, thanks kid, you’ve taught the old man something for a change. ;-)

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A Graduate’s Personal Finance Assignment

Summer Reading(s)
phunkstarr

My son’s graduation ceremony took place this past weekend.  The sun finally made an appearance, so it was held on the high school football field.  There were actually a few good speeches.  The principal called the graduates the “Online Generation”, and how credentials will mean less in this day of YouTube and blogging.  One of the high-ranking students talked about following your passion.  He also encouraged his classmates to follow an unconventional path as long as it takes them where they want to go.  He tasked them with trying several things they never would have tried before starting college in the fall (he stressed legal things).  I thought it was a great speech.

A Brainstorm

This got me thinking.  My son has had a summer reading assignment each year since his summer after 5th grade.  The students were given a book to read, and had to either complete a book report or PowerPoint presentation in time for their first English class in September.  My son thought he was off the hook because he graduated.  Heh heh.  Little did he know…

C’mon Dad!  Not Another Book Report!

So this year, I’m giving him a reading assignment.  I figured that I’d start him off with something breezy, so he’s going to read The Wealthy Barber (he was thrilled when I told him he didn’t have to write a paper).

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I’ve reviewed The Wealthy Barber on this website, and it was the first personal finance book that I had read.  It’s told in a narrative form that’s easy to follow, and hopefully it catches his interest.  I just want him to take away something out of the book (hopefully on paying yourself first).

A “Soft” Due Date

I’m giving him the whole summer to read it, so as not to turn him off completely.  I hope he’ll get into it, and actually learn something from it (not just that his dad is a pain in the ass).  Time will tell.

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Summer Jobs Don’t Have to Suck

lifeguards
rappensuncle

We’re approaching that time where high school and college students are looking for or starting their summer jobs.  Many of these can be considered “dead end” jobs, as they have no relation to the student’s field of study.  They exist merely to pay for books, trips to the movies, gas for the car, or beer for the kegger.

Nice Work if You Can Find It

Sometimes, students luck out, and get something related to their college major.  An internship in the industry of your choice can be a real gift.  Perhaps a future pharmacist can get a job as a helper in a drug store.  Or a culinary student lands a job in the kitchen of a fine restaurant.  Sounds to good to be true?  Well, it was for me, too.

At Least You’ll Get a Tan

My first summer job was landscaping.  I got acquainted with poison ivy, and the occasional dead racoon.  I stayed in this industry for my next job, which was maintenance at a mini golf course.  I worked there until I got a “real” job.  For all of the griping that I did about wages (about $4 an hour), and working conditions (I was constantly dirty, and consequently talked down to by customers), it was a great job.  Sunshine on most days, and I made a lot of friends.

Sa-wing, batta batta!

Call me ambitious.  During this time, I also worked at a batting range/go-kart track.  I mostly handled the money, which means that I was the guy with the change apron.  I gave out quarters for the batting cages, and sold tickets for go-kart rides.  The batting range was enclosed by nylon nets, and before the place opened for the season, I sewed up the holes in the nets, along with the other guys.  My windburn was always mistaken for a tan, so I can’t really complain.  Oh, yeah, the pay sucked here, too.

Memories Are Made of This…

Yeah, the pay sucked.  And I’m sure the pay still sucks today.  But there are things that I remember from my summer jobs that are priceless, for various reasons.  They are, in no particular order:

  • Making up dirty lyrics to popular songs while sewing nets at the batting range;
  • Watching a kid who I worked with spend his entire paycheck on a Mother’s day gift;
  • The deli that always got my sandwich order wrong, but the food was delicious anyway;
  • Loud belching contests;
  • Taking care of one of my favorite teachers, who would bring his son’s Little League team in for a tune-up before each game;
  • Learning to switch-hit and mastering the “super-fast” machine, and winning hitting contests with my friends;
  • My coworker’s Italian grandfather, known to all as The Boss, who lived next door, and grew the hottest peppers known to man;
  • The impromtu hockey games that would break out when business was slow;
  • The time we ejected a drunk, obnoxious customer, and he chased people around the parking lot with his car, who yelled “Land Shark!”, eventually crashing into a fence and getting arrested;

But my favorite memory has got to be the night we closed the go-kart track early because of rain, and sat around drinking beer and eating pizza in the parking lot.  Soon after, our manager unlocked the go-kart garage, and we spent an hour tearing ass around the wet track, smashing each other’s carts and doing 360’s.  It was a great adrenaline rush, especially after our neighbor The Boss called the cops, and eight soaken wet, filthy, half-drunk guys had to explain to the cop that this was just a private party, and we really weren’t vandalizing the place.  Ah, the memories…

So even though your summer job may suck, try to look on the bright side.  Many years later, it may make good fodder for a blog post.

Follow me on Twitter: CorpBarbarian

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Repeat After Me: Retirement First, College Second

401K - Perfect Solution !?
mujitra (´・�・)

A recent U.S. News & World Report article recommended the obvious - fund your retirement accounts before you fund your child’s college education.  I agree.  While there are many vehicles to pay for education expenses, you are probably the only source of your retirement savings.

I say probably, because unless you’re a civil servant, or your company is still offering a good old-fashioned pension, your 401(k), IRA, or Roth IRA may be your primary retirement savings.  It’s a pipe dream to think that you can live on your Social Security benefits.  If you put off contributing to your 401(k), you’ll also be missing out on your company’s matching contributions.  This is free money that you do not want to pass up.

Let’s look at an example of a 22 year-old with a $30,000/year salary, contributing 10% to his 401(k), with a company match of 50% of his contribution, or 5%.  We’ll assume he gets a 3% raise each year, and a growth rate of 8% on principal.  We’ll assume he has an epiphany at age 30, and decides to invest in his child’s education for 4 years rather than his own retirement: click here for the Excel file

As you can see in the attached file, the contributions that he didn’t make, plus the company match that he missed out on during the 4 years, total under $25K.  However, when you take compounding into account, he’ll have $238K less in his account at age 62.

That’s almost a quarter of a million bucks that he’s passing up by not funding his 401(k) for just 4 years.  Quite an opportunity cost!  I hope Junior can land a decent job when he graduates.Maybe he’ll become a lawyer.

But, there are other ways to pay for school, without sacrificing your retirement savings:

  • First, tell kids what college costs.  The college they have in mind may be WAY out of your price range.  Plot out a strategy before they have dreams of a 4 year vacation to Sunshine U.
  • See what financial aid you can get from the school.  Another plus: retirement savings is not part of the calculation when determining financial aid needs, so sock it away in your 401(k).  Even with the financial aid, remember to add 10-20% on to college costs if your student is planning to live at the school.
  • There are student loans, scholarships, and grants available for education.  Apply early so that you get first crack at them.

Finally, look in your own backyard.  Students can also live at home and go to state schools to keep costs down.  And don’t dismiss community colleges; if you’re willing to learn, you can learn anywhere.

Follow me on Twitter: CorpBarbarian

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Going to a State College vs. a Private School

Woo-hoo!  My son was accepted to a state college, and I couldn’t be happier.  He was pretty excited, too.  It was his first choice, and has a great program for his major.  What makes it sweeter is the fact that this particular school had a record number of applicants for the next Fall semester, so the competition was fierce.  The kid worked his butt off in high school, and didn’t slack off during his senior year, so he definitely earned it.

Some of his friends weren’t so lucky.  The college had a record number of applicants due to the bad economy.  Many students who would have gone away to a private school elected either to go away to a state school, or live at home and go to a state school.  This caused a surplus of empty spots at the private schools, while state schools filled up fast.  An article at news-record.com details the phenomenon of private colleges experiencing declining enrollment:

Their biggest fear is that come spring, prospective students frightened by the economic situation will take their money to cheaper public universities and community colleges or stay away from college altogether. And students who do choose private colleges are likely to need more financial aid.

While his friends didn’t get accepted to the state school, many private schools were more than willing to accept them (I hope they’re not part of the dummies and slackers that Tough Money Love wrote about!).  As an added benefit, his friends were offered more financial aid.  But even with the more-generous-than-usual financial aid packages offered at the private schools, the cost was still much higher than my son’s tuition at the state school.  This will translate into more student loans for his friends, while my son’s college tuition shouldn’t leave him with a pile of debt when he graduates.

Hopefully, in four years, when I report back on my son’s progress, he’ll have graduated without incurring a huge student loan debt.  I’ll be able to attribute this to his attending a state college instead of a more expensive private school.  Then, he’ll just need to find a job.

How about you?  Did you attend a state college, and save a bunch on tuition?

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