Finding Money For College, Part 1

One thing we haven’t talked about when it comes to switching careers is financing that career switch. Besides student loans, scholarships, and federal grants, financing one’s career switch may mean cutting back on expenses and paying off current debts.

Returning to college, whether part time, or full time, requires personal sacrifices and quite possibly, a bit of additional income. And to help you find that income, we’re going to give you a few simple, but effective, financial tips:

1. Cut out unnecessary fixed expenses.
Unnecessary fixed expenses may be hiring help to mow the lawn or clean the house once a week or it may involve a gym membership you never use or a cable bill that includes the “premium” package.

2. Start eating in.
The average American family spends nearly $300 per month eating out every single month. By eating cereal for breakfast, taking a bagged lunch to work, and slow-cooking dinners, you’ll instantly see extra money in your monthly budget.

3. Stop using credit cards.
People who charge their purchases are more likely to buy more than they planned. And with interest rates averaging 23.99%, the minimum payments barely cover the interest charged which means wasted money every single month!

Come back on Friday as we finish up our discussion on finding money for college.