What Will a Degree Do For Your Finances?

It Will Help You Get a Better Job with Higher Pay

Getting a degree opens the door for better jobs with better pay. Employers look favorably on candidates with a degree because it shows them that you have learned certain skills:

• Time management
• Multi-tasking
• Critical Thinking
• Working with diverse groups of people in diverse situations
• Ability to handle stress
• Independence and responsibility
• Decision making

Additionally, jobs that pay more often include health benefits and retirement plans, including employer matching plans.

You Will Make More Money Over Your Lifetime

According to a report from the U.S. Census Bureau, “The difference in work-life earnings between workers with a high school diploma and those with a college degree is about $1 million, and the difference between the estimate for workers with a college degree and the estimate for those with a doctorate is another $1 million.” Over a lifetime, the difference in earnings between a high school graduate and a college graduate is significant.

You Will Master Money Management Skills

Going to college requires financial planning. You will need money for tuition, books, housing, food, transportation, etc., and if you are going to school full-time, you might not have time for a full-time job to pay the bills.

Many college students have to work part-time and live very frugally in addition to taking out student loans. Even with part-time employment and loans, it can require some pretty stringent budgeting to make ends meet.

You will be required to manage your money very carefully in order to make everything work. This is a skill that, if you continue to apply it throughout your life, will help you become a responsible money manager and reach your long-term financial goals.

It Will Open the Door to Graduate School

Going on to graduate school can further improve your financial potential. Sometimes you can even earn a graduate degree while working full-time through evening or distance programs. This can make it easier to keep costs down while going to school.

For example, many schools offer an online MBA program which allows students from all over the country or the world to earn their MBA without even leaving their home. This saves both money and time and allows students the flexibility to complete the degree around their busy schedules.

You can obtain just about any degree online that is offered at a brick and mortar institution. Schools like American University Online offer a vast assortment of graduate degrees such as an MA in Strategic Communication, Economics, Teaching English as a Foreign Language, and even Nutrition Education. They also give you 24/7 access to coursework as well as the opportunity to learn with the same faculty and students on the physical campus. You could easily open the door to an exciting and rewarding new career just by browsing a few websites.

Regardless of how, when, or where you earn your degree, doing so will put you in a significantly better financial position. Not only will your earnings be higher, but you will have more and better opportunities to move up and progress in your career. A college degree, and especially an advanced degree, is definitely worth considering if your ultimate goal is financial security for yourself and your family.

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