Looking to the future for finances

[Hunter's Moon]

I am only 17, but pretty soon, maybe in about 2 years if I need to move for college, I'll be out on my own.

 

I have been looking into budgeting and such for when I rent.

 

I would have only the bare necessities, expect I'd also have cheap cell phone plan and internet for school.

 

Adding everything up on the high end, it would be about $1700 a month. That would be in the colder months when gas/electric would be needed for more heating.

 

What are some things you wish you learned how to budget before you were out on your own?

 

There is no way I can save up starting now. No job, no one will hire me, and any birthday/holiday money goes towards things I need but parents don't usually get (special shampoo, etc).

[BeckyFL]

I wish that I had read Dave Ramsey's Total Money Makeover before I was out on my own. I had all the right ideas but it would have helped to have the cash envelope system, the idea of saving monthly towards a car to avoid car payments, and all of the other budgeting techniques that I just didn't think of. Now I have several accts set up with a bank online to help with budget categories that come up yearly (Christmas, home owner's insurance, etc), emergency money so that nothing has to be put on a credit card, etc. My son just took a personal finance course that was required by his college and his textbooks were the book and workbook for Total Money Makeover. :)

[Hunter's Moon]

I wish that I had read Dave Ramsey's Total Money Makeover before I was out on my own. I had all the right ideas but it would have helped to have the cash envelope system, the idea of saving monthly towards a car to avoid car payments, and all of the other budgeting techniques that I just didn't think of. Now I have several accts set up with a bank online to help with budget categories that come up yearly (Christmas, home owner's insurance, etc), emergency money so that nothing has to be put on a credit card, etc. My son just took a personal finance course that was required by his college and his textbooks were the book and workbook for Total Money Makeover. :)

 

Thanks!

 

Just ordered from the Library :D

[elegantlion]

I wish I had learned the difference between a need and a want. I would surmise you are way smarter than I was at 17 though. I grew up in a time when credit card companies would mail you the card, even if you didn't apply. I had an insane amount of credit at 18, when minimum wage was 3.35/hour.

 

Read a lot of the frugal type threads here, be willing to learn from the experience of people here (which you have already shown).

 

Live small, don't spend more money than you comfortable with without thinking on it at least overnight. My comfort zone has ranged from 10.00 to 50.00, depending upon our finances at the time.

 

Understand money, how much you'll keep, how much goes towards taxes, etc.

 

Don't let a guy sway your ability to be prudent with money. I got married young to my first husband. We used my credit to buy "stuff". In the divorce 3 years later the only thing I got was debt and a cordless phone. Spent a long time digging out of that mess.

 

Financial issues can take years to get out from under, if you've made bad choices. Don't let what you do at 20 determine how you're going to live at 30.

[nono]

Read how credit cards figure their payments. Learn how amortization schedules work...sit around and play with online money calculators!

 

Dream about your future, and plug in figures to those online calculators. See how far dollars will go. Check out insurance rates for cars, etc. (All can be found online).

 

Go through the tax schedules available on the IRS website. Figure out how at certain points in the tax code, you could end up netting less money for doing a good job and getting a raise, esp. if coupled with other decisions.

 

Money, in the end, is set up as one big game in the U.S. If you know all the ins and outs of the rules, you'll likely end up keeping more than the average person, who didn't know the rules as well. Esp. if you can start out savvy at 18!!! Have fun doing the dreaming and planning!

[Hunter's Moon]

I wish I had learned the difference between a need and a want. I would surmise you are way smarter than I was at 17 though. I grew up in a time when credit card companies would mail you the card, even if you didn't apply. I had an insane amount of credit at 18, when minimum wage was 3.35/hour.

 

Read a lot of the frugal type threads here, be willing to learn from the experience of people here (which you have already shown).

 

Live small, don't spend more money than you comfortable with without thinking on it at least overnight. My comfort zone has ranged from 10.00 to 50.00, depending upon our finances at the time.

 

Understand money, how much you'll keep, how much goes towards taxes, etc.

 

Don't let a guy sway your ability to be prudent with money. I got married young to my first husband. We used my credit to buy "stuff". In the divorce 3 years later the only thing I got was debt and a cordless phone. Spent a long time digging out of that mess.

 

Financial issues can take years to get out from under, if you've made bad choices. Don't let what you do at 20 determine how you're going to live at 30.

 

Thank you.

 

My brain has trouble understanding interest rates and the whole tax process and all that, but I'm working on it.

 

I've been with my boyfriend for three years and while I can't say I'll be with him forever and stuff, he is more prudent with money than me. Hopefully, my husband will also be the same.

 

Read how credit cards figure their payments. Learn how amortization schedules work...sit around and play with online money calculators!

 

Dream about your future, and plug in figures to those online calculators. See how far dollars will go. Check out insurance rates for cars, etc. (All can be found online).

 

Go through the tax schedules available on the IRS website. Figure out how at certain points in the tax code, you could end up netting less money for doing a good job and getting a raise, esp. if coupled with other decisions.

 

Money, in the end, is set up as one big game in the U.S. If you know all the ins and outs of the rules, you'll likely end up keeping more than the average person, who didn't know the rules as well. Esp. if you can start out savvy at 18!!! Have fun doing the dreaming and planning!

 

I've been doing that all day, bugging my mother with questions like "how many kWh's do we use in one month?" and "is all electric or electric & gas apartments cheaper?"

 

:D

[justamouse]

You can start investing with small sums. You don't need thousands. Great oaks from tiny acorns grow.

[Carrie12345]

The book is going to give you some GREAT advice!

 

If you don't already, start paying attention to what you eat and how much it costs. Learn to cook from scratch. Then have a decent amount of Tupperware (or other food storage, preferably from a thrift store ;)) so you can cook full meals and store them in better portion sizes. I say that as someone who didn't learn to cook much until... oh, about 26 or 27. And I had already been married for a few years!

[tex-mex]

You can start investing with small sums. You don't need thousands. Great oaks from tiny acorns grow.

Absolutely. My MIL has a great saying -- 10% to God, 10% in savings, and the rest for rent/bills/food/etc.

 

I grew up poor and worked my butt off since I was 11 -- first doing odd jobs like mowing lawns, pet sitting, babysitting and then going on and getting a paper route. Once I was of age, I worked at a local movie theatre and cleaned houses 'til college. One thing I wish I had done was saving aside more $$ for stuff like bedsheets, towels, pots/pans, dishes, etc. But roommates can help fill that in OR you can always shop the dollar stores or thrift stores for that stuff. I totally regret one lady's offer (I cleaned her house weekly) of a BEAUTIFUL quilted twin bed set she made -- in exchange for free cleaning. I was too focused on $$$ as a teen. Now as an adult, I kick myself how intricate her work was and treasured it would have been. Oh well.

 

TO THE OP:

Would it be possible for you to consider having 1-2 roommates? That makes it so much easier on the budget. I was on my own by 17 and budget limited. It is possible. I lived on Top Ramen or Mac N Cheese mainly. LOL But consider the roommate factor. Or rent a room. HTH

Edited October 22, 2010 by tex-mex

[Ali in OR]

Assume you will have a roommate to save money.

 

As a young single with a teaching degree and a job, a friend from my teaching program and I shared an apartment. Another friend didn't think she would like living with someone else. Her lifestyle was far more expensive than ours, not through extravagant living, but just from thinking that she had to live in her own place (in CA bay area--very expensive).

[tex-mex]

Assume you will have a roommate to save money.

 

 

:iagree: Plus to the OP: some rental places throw in the elec/gas as part of the rent. I chose my first place as a college apartment -- no families or older people. It was older and louder ;) (esp. on weekends) next to the University I attended -- but the water/elec/gas/trash all was included in the rent. All furnished (very OLD furniture). I signed the lease and they matched me with 3 roomies who attended the same University. It was a blast!!

[nono]

I've been doing that all day, bugging my mother with questions like "how many kWh's do we use in one month?" and "is all electric or electric & gas apartments cheaper?"

 

 

Oh, that's right you are 17 and have lots of energy. I should have put in there, "Over the course of the next month...." :D ;)

 

Have fun!!! It will work out because you are putting the thought and energy into it!

[Mejane]

When I first went out on my own, I worked two jobs and went to college. I had a car payment, rent, furniture payment, college costs, and I even decided at one point to get braces on my teeth (no health/dental of course!) I was making about $6 an hour, maybe $250/week. My rent was only $400 a month, but I paid for everything myself. I had NO savings. At one point, I got sick and missed a week of work, had medical bills, and would have sunk if not for my parents stepping in. It was the only time I asked for their help.

 

I look back now and am amazed I did that! I've never felt that confident in my own devices since. The invincibility of youth can be a wonderful thing - enjoy it (but have some savings just in case!) :001_smile:

[justasque]

I am only 17, but pretty soon, maybe in about 2 years if I need to move for college, I'll be out on my own.

 

 

Many colleges have dorms, which are usually an inexpensive option. The advantage is that they are usually on campus, so you can walk to everything or take the school's shuttle bus. In a dorm, typically utilities are included, you usually have access to inexpensive laundry facilities. A meal plan is usually available as well. Colleges often have different housing options to choose from, such as married student housing, or double rooms vs. suites, etc. It is a nice "first step" to independent living. Besides the college bill (including housing), students usually need very little additional money. Shampoo, a pizza out now and again - that kind of thing.

 

You might want to go on a visit to a local college or two - you'll learn a lot about how things work. It's perfectly OK to visit a college that you're not sure you want to go to - checking out a local college will get you started on the process. Most have tours daily or M-F - check the college's web site to find out. They typically have an info session and a tour of the campus. You can start to look at financial aid options as well, to get a sense of how to pay for it all.

[Hunter's Moon]

Thank you, everyone! I have been thinking about a roommate. While I am a very private type of person and have NEVER liked the idea of living with someone I don't know, I realize I have to put aside those petty feelings and live with it.

 

When I first went out on my own, I worked two jobs and went to college. I had a car payment, rent, furniture payment, college costs, and I even decided at one point to get braces on my teeth (no health/dental of course!) I was making about $6 an hour, maybe $250/week. My rent was only $400 a month, but I paid for everything myself. I had NO savings. At one point, I got sick and missed a week of work, had medical bills, and would have sunk if not for my parents stepping in. It was the only time I asked for their help.

 

I look back now and am amazed I did that! I've never felt that confident in my own devices since. The invincibility of youth can be a wonderful thing - enjoy it (but have some savings just in case!) :001_smile:

 

Honestly, that is what I am hoping to do (not the getting sick part but that wasn't your fault).

 

The colleges I am looking at, living there is about $2500 - $3,000 a semester (not including a food plan and that's with 2 roomies) and they want big lumps all at once. I am sure I could work something out with them, but I just don't know.

 

Just to begin college, it will take my parents and I awhile to scrape up the initial deposit money.

 

I know that God will somehow provide me with the money.

 

Thank you everyone for your suggestions!

[Lux Et Veritas Academy]

I agree- read Dave Ramsey and use Mint.com! Invest early and spend less!

[AngieW in Texas]

Some college dorms even have individual rooms. The school my dd wants to go to has individual occupancy rooms only.

 

http://www.utdallas.edu/residencehall/suite/

[Hunter's Moon]

Some college dorms even have individual rooms. The school my dd wants to go to has individual occupancy rooms only.

 

http://www.utdallas.edu/residencehall/suite/

 

WOW, $589/month is amazing!

 

Definitely looking into different dorm options.

 

Some college sites are hard to decipher though :glare:

[Carol in Cal.]

When I was in college, a two bedroom apartment routinely housed 4 people. It was fine. No one spent much time there anyway. And it is for a season, not for a lifetime.

[Alyce]

to go about it. You've probably heard it discussed quite a bit on here as it is becoming more and more the way students do it. Go to your local CC for the first two years. My Dd is in a four year school. It is a state school and including room and board it cost about 15,000 a year (that's one of the cheap schools) My son is going to CC this year and it is only going to cost us $3000 dollars. It is definitely a cheaper way to go and will give you more time to save money. You can earn an AA and then transfer to a university as a junior. Our state colleges have websites where you can find out what the basic 2 year courses they require the new students to take and they have a place where they will tell you what CC course will be accepted for one of those courses. He is currently working on getting his AA. It is a program specifically for student who are planning on transferring to college. I'm sure yours will have one like that as well.

 

The other thing to look at is what kind of financial aid you can get. Some colleges will give you more than others but it's worth looking at. You can always apply and see what their financial aid package is and if it's not good you can turn them down and go the CC route. I assume your parents will continue to claim you as a dependent on their income taxes. If so it will be their income that will determine what kind of financial aid you can get. I get SS Disability and my husband gets state pay. We are considered very low middle class, almost poverty. When Dd first went to college she got all need based grants except for $5000 which she took as a loan through the federal government. The loan would pay for her school cost but would not acrue interest or require her to pay on the loan until after she had been graduated for 6 months. Last year she got 100% need based grants. This year with Ds also attending school they both got 100% need based grants. Have your parents take the FAFSA. You won't need it yet but it will give you an idea if you will be eligible for a pell grant. That is money that the federal government will pay the school of your choice and you don't have to pay it back. I think the most you can get now is $5,500. That would pay for all the cost of your schooling at a CC and a lot of the tuition for most colleges. My Dd college is very generous with grants and merit aid. They do it all for us. All we do is file our FAFSA and they take care of everything else and then tell us what they have done for us. Some schools you have to do more yourself to get financial aid. When you do the FAFSA it will tell you how much out of pocket your parents will be expected to pay. The first year Dd applied I think it said $500 or something like that, last year it said $0. If it says more than $5000 you probably won't be awarded a pell grant but if the amount if lower than that you will be able to get some money. It's worth checking out so you can get a better idea of what your college cost might be. We just got a note from the people that we took the loan out with. Her payment will be $25 a month once she graduates but she will have a $50 minimum payment. If she doesn't have to take any more loan money out she will be able to pay her student loan off early. We do expect she will need another loan because she will be going an extra year. At the end of her college we anticipate her loans to be about $12,000. Her payments are probably going to be about $75 a month. The good thing about the federal loans is that the interest is set. They can not increase it on you. So again you'll have a better idea of what you need to plan for in the future. I would not take out a lot of loans and that's why I mention the CC direction. It might be a much better route to take.

[Hunter's Moon]

to go about it. You've probably heard it discussed quite a bit on here as it is becoming more and more the way students do it. Go to your local CC for the first two years. My Dd is in a four year school. It is a state school and including room and board it cost about 15,000 a year (that's one of the cheap schools) My son is going to CC this year and it is only going to cost us $3000 dollars. It is definitely a cheaper way to go and will give you more time to save money. You can earn an AA and then transfer to a university as a junior. Our state colleges have websites where you can find out what the basic 2 year courses they require the new students to take and they have a place where they will tell you what CC course will be accepted for one of those courses. He is currently working on getting his AA. It is a program specifically for student who are planning on transferring to college. I'm sure yours will have one like that as well.

 

The other thing to look at is what kind of financial aid you can get. Some colleges will give you more than others but it's worth looking at. You can always apply and see what their financial aid package is and if it's not good you can turn them down and go the CC route. I assume your parents will continue to claim you as a dependent on their income taxes. If so it will be their income that will determine what kind of financial aid you can get. I get SS Disability and my husband gets state pay. We are considered very low middle class, almost poverty. When Dd first went to college she got all need based grants except for $5000 which she took as a loan through the federal government. The loan would pay for her school cost but would not acrue interest or require her to pay on the loan until after she had been graduated for 6 months. Last year she got 100% need based grants. This year with Ds also attending school they both got 100% need based grants. Have your parents take the FAFSA. You won't need it yet but it will give you an idea if you will be eligible for a pell grant. That is money that the federal government will pay the school of your choice and you don't have to pay it back. I think the most you can get now is $5,500. That would pay for all the cost of your schooling at a CC and a lot of the tuition for most colleges. My Dd college is very generous with grants and merit aid. They do it all for us. All we do is file our FAFSA and they take care of everything else and then tell us what they have done for us. Some schools you have to do more yourself to get financial aid. When you do the FAFSA it will tell you how much out of pocket your parents will be expected to pay. The first year Dd applied I think it said $500 or something like that, last year it said $0. If it says more than $5000 you probably won't be awarded a pell grant but if the amount if lower than that you will be able to get some money. It's worth checking out so you can get a better idea of what your college cost might be. We just got a note from the people that we took the loan out with. Her payment will be $25 a month once she graduates but she will have a $50 minimum payment. If she doesn't have to take any more loan money out she will be able to pay her student loan off early. We do expect she will need another loan because she will be going an extra year. At the end of her college we anticipate her loans to be about $12,000. Her payments are probably going to be about $75 a month. The good thing about the federal loans is that the interest is set. They can not increase it on you. So again you'll have a better idea of what you need to plan for in the future. I would not take out a lot of loans and that's why I mention the CC direction. It might be a much better route to take.

 

I want to be an Occupational Therapist and the CC offers a Occupational Therapy Assistant Associate's Degree.

 

The problem with transferring, is mostly all OT programs are 5 1/2 years, so Bachelor work begins the 2nd year.

 

I will have to look into it to see if it is possible to transfer with an Associate's into the program.

 

Thanks!

[Joyofsixreboot]

I haven't had a chance to read everything but the Dave Ramsey book is an excellent way to start.

~eat in not out, learn to cook

~simple is best

~if people question you just say you're being 'green' (works for my line drying and bike riding)

~a drying rack is your friend, dryers will eat your quarters or electric bill up

 

As for a job, my college freshman has had luck finding odd things to add up to what she could get from a 'real' job, she's doing yard work/house cleaning, tutoring in algebra and trig, and found a job at a Salvation Army Latch Key program. It's only 2 hrs /day and the other things she can schedule around classes. She has found that when word got out she was good, people called her. My teen boys have also found steady yard work/snow shoveling work. They had to put effort into getting the first few jobs, lots, but after that word of mouth has been good. Know anyone who needs child care? Grocery shopping done? Fall clean up? Take that little bit and put it back and DON"T TOUCH IT. I'd work on an emergency fund now. When I went to college it was on a Pell Grant. I had no $$ for anything personal except what I earned washing dishes. It sucked but it can be done.

[Alyce]

I'm not sure if you have a specific college in mind but when I was in college they were a 4 year degree so I did some searching. I found this site and they list several colleges with a degree offered as an occupational therapist and they are all 4 year degrees. Most colleges that I know of require 2 years of general educational courses before they start their degree. Not all majors do that I know. My dd is a dance major but she still has to get those 2 years in. I can't imagine any program where you couldn't transfer in. Anyway, you might want to look at this site and do some more digging. Here's the site I found http://education-portal.com/colleges_for_occupational_therapy.html

If you are talkiing about a masters you usually get a 4year degree and then go on to a masters level program which would probably be the 5 1/2 years you mentioned. You still need that 4 year degree and like I said most schools require 2 years of general education courses so tranferring in should be no problem.

Edited October 23, 2010 by Alyce

[kathkath]

Also, you can look into renting a room from a family or a couple. That is another way to pay even less rent than sharing an apartment with a roommate.

 

Check out the Tightwad Gazette books---that helps you get even more into a want/need mindset.

[Hunter's Moon]

I'm not sure if you have a specific college in mind but when I was in college they were a 4 year degree so I did some searching. I found this site and they list several colleges with a degree offered as an occupational therapist and they are all 4 year degrees. Most colleges that I know of require 2 years of general educational courses before they start their degree. Not all majors do that I know. My dd is a dance major but she still has to get those 2 years in. I can't imagine any program where you couldn't transfer in. Anyway, you might want to look at this site and do some more digging. Here's the site I found http://education-portal.com/colleges_for_occupational_therapy.html

If you are talkiing about a masters you usually get a 4year degree and then go on to a masters level program which would probably be the 5 1/2 years you mentioned. You still need that 4 year degree and like I said most schools require 2 years of general education courses so tranferring in should be no problem.

 

The way the colleges do it I've been looking at, you begin working on Master's requirements in your 2nd and 3rd year.

 

I'll look into it though.

[Mama Geek]

I was in college from '93-'98 so some of this might have changed but some of it I am sure still applies.

 

Usually living off campus with room mates at a 4 year school is cheaper than living on campus. Some colleges do require freshman to live on campus though.

 

One disadvantage of transferring in to a 4 year school is that typically the first 1-2 years the classes are a little easier and the material is more familiar. Your GPA doesn't transfer with you. So some of those easy A's won't be included in your final GPA and you could end up with a lower GPA. Also just because they say credits transfer easily between schools doesn't make that the case. I had to fight to get a 4 credit calculus class from one college approved for a 3 credit calc class at the other college.

 

My dh & I lived near a large flea and farmers market and were able to get good fresh food cheap. We had a freezer and also had a cow butchered at the right time of year. We ate very well and it didn't cost us much.

 

Another book that I read was Rich Dad Poor Dad. I took some good things out of it even though I don't think Real Estate is the thing to get into these days. It is an interesting take on how to look at money.

 

Good luck and you are doing the right things now by getting lots of input from people that have been there before.:)

[Hunter's Moon]

Thank you, everyone! I turn 18 the October of my Senior Year, so hopefully I will be able to secure a job by the time I go to college. I definitely plan on looking at working at a day care or a nursing home so it'll look good for what I want to do.

 

I was in college from '93-'98 so some of this might have changed but some of it I am sure still applies.

 

Usually living off campus with room mates at a 4 year school is cheaper than living on campus. Some colleges do require freshman to live on campus though.

 

One disadvantage of transferring in to a 4 year school is that typically the first 1-2 years the classes are a little easier and the material is more familiar. Your GPA doesn't transfer with you. So some of those easy A's won't be included in your final GPA and you could end up with a lower GPA. Also just because they say credits transfer easily between schools doesn't make that the case. I had to fight to get a 4 credit calculus class from one college approved for a 3 credit calc class at the other college.

 

My dh & I lived near a large flea and farmers market and were able to get good fresh food cheap. We had a freezer and also had a cow butchered at the right time of year. We ate very well and it didn't cost us much.

 

Another book that I read was Rich Dad Poor Dad. I took some good things out of it even though I don't think Real Estate is the thing to get into these days. It is an interesting take on how to look at money.

 

Good luck and you are doing the right things now by getting lots of input from people that have been there before.:)

 

The credit transfer is what I am worried about.

 

Who do I call to see if the credits are the same? The CC or the college I would transfer to?

 

I assume the college I would transfer to, but how would they know exactly what the CC college classes consist of?

 

Thanks.

[Mama Geek]

You will want to get a course catalogue with the description of the classes that you will be taking at the first college and show that to the college you will be transferring to (usually an admissions person). They won't sign anything in blood, but it will increase your chances that they will accept the credits that they say they will accept.

 

Also please realize that admissions people don't know everything. When my dh was applying for grad school in Electrical Engineering they asked if his physics classes for his BS in Physics were Calculus based. This was pretty funny because you don't get very far in Physics without Calculus.

[Mama Geek]

One other thing that I have heard of parents doing is buying a house for their children to live in while they are in school. Kind of as an investment property. I don't know your family's money situation at all, but if that could happen I could see big advantages to that. Especially if they were able to charge rent to a couple of roommates.

 

My family wasn't in a situation where they could do this.

[Hunter's Moon]

One other thing that I have heard of parents doing is buying a house for their children to live in while they are in school. Kind of as an investment property. I don't know your family's money situation at all, but if that could happen I could see big advantages to that. Especially if they were able to charge rent to a couple of roommates.

 

My family wasn't in a situation where they could do this.

 

No, definitely not able.

 

That'd be nice though, lol.

 

Thanks for the admissions advice, as well :)

[RamonaQ]

One possibility would be to see how the OT assistant degree would fit with then getting an OT degree. One possibility, and I have seen this with friends who are getting nursing degrees, is to get the assistant degree, and work at that either for a few years to save up, or work part-time and go to school. I would assume that the assistant degree would pay at a higher rate than minimum wage, and also give you good skills in your area.

[Hunter's Moon]

One possibility would be to see how the OT assistant degree would fit with then getting an OT degree. One possibility, and I have seen this with friends who are getting nursing degrees, is to get the assistant degree, and work at that either for a few years to save up, or work part-time and go to school. I would assume that the assistant degree would pay at a higher rate than minimum wage, and also give you good skills in your area.

 

I've really been thinking about going this path.

 

There is a woman on here who is an OT and I have PM'd her some of my questions on this.

 

My fear is, OTs can write evaluations while Assistant OTs can't. I worry that either, A) it will be hard to be hired in the first place and B) I would be replaced with an OT.

 

The local CC offers an Associate's degree to become an Assistant OT and it is about $10,000, which is almost $20,000 than one college, and $15,000 cheaper than another.

 

I am not sure how they would transfer my credits though, since the programs they have offer Master's degrees. I am definitely looking into this option though.

 

Thanks :)

[Carol in Cal.]

You will want to get a course catalogue with the description of the classes that you will be taking at the first college and show that to the college you will be transferring to (usually an admissions person). They won't sign anything in blood, but it will increase your chances that they will accept the credits that they say they will accept.

 

Also please realize that admissions people don't know everything. When my dh was applying for grad school in Electrical Engineering they asked if his physics classes for his BS in Physics were Calculus based. This was pretty funny because you don't get very far in Physics without Calculus.

 

It's a good question, though. Isn't Conceptual Physics a non-calculus requirement version of physics? Also, the physics breadth requirement classes even at good universities don't require calculus as a prerequisite.

[Annabel Lee]

You can start investing with small sums. You don't need thousands. Great oaks from tiny acorns grow.

 

I wish I would have had more exposure to & education on this. I was great at frugality and saving any extra, but I always felt like we had too little to risk investing it. Now, with the stock market having turned into Mr. Toad's Wild Ride, I'm glad we didn't invest w/o being educated about it. BUT, it stinks being this far into adulthood and still not knowing much about it. I've heard there are less risky ways to put your money to work for you. My advice would be to start learning while you have time.

 

Also, another resource to look at is Crown Financial Ministries.

[Mama Geek]

It's a good question, though. Isn't Conceptual Physics a non-calculus requirement version of physics? Also, the physics breadth requirement classes even at good universities don't require calculus as a prerequisite.

 

I haven't heard of any non calculus based 4 year physics degrees.:D There are other degrees that would only require conceptual physics.

[mcconnellboys]

If you can put your hands on a copy of the Tightwad Gazette (used to be a newspaper, but they bound up various issues into one or more books at some point as it's not published any more) it will stand you in good steed for living practically.

[jld]

A friend's son is joining the military, so should get his college paid. I know it's not for everyone.

 

It's too bad we don't have a national program similar to that but in domestic service (cleaning national parks, helping in poor communities, etc.).

[KingM]

There are a few simple (in concept, that is) things that you can do that will make you better off financially than 90% of the population.

 

1. Always live within your means.

2. Choose a major/career with prospects.

3. Choose a spouse with similar values.

 

#1 is obvious, and #3 is pretty self-explanatory as well. If you marry someone with savings habits and/or poor income prospects, you will be poor all your life. As for number 2, a lot of kids go off to college and study theater or sociology or history. These may sound more fun than studying something like engineering or computer science, but you'll pay for that decision all your life.

 

I studied computer science and half the kids in my program dropped out of school because there were so many job offers they couldn't resist. Even for those of us who stuck it out there were great student jobs available. I was making $50,000 and getting valuable experience in my field even while I was finishing my last few classes and this was fifteen years ago.

 

Another great career is nursing. There is always a shortage of nurses and they make solid money.

 

I'd say this rule applies to women as well, even those who plan to raise children as their primary occupation. First, you never know what life is going to hand you. Your husband may get disabled, or pass away, or you might get divorced. Second, keep it in mind when selecting a spouse. What is his career plan? I don't know why (political correctness?), but this is a value that was once taken for granted by women seeking a partner but is often overlooked nowadays.

[jld]

Great post, KingM. I just had my son read it.

 

There are 18 mos. nursing programs in my area. Could you live at home and do one? Otherwise, even if you have to borrow (and are able to), you would have a great start in life.

 

My husband asked me to marry him shortly after we met, and while I was surprised (I thought we were just friends), I took about 24 hours to evaluate his proposal. I finally decided that he would be a good husband, good father, and good provider. That last part was just as important as the first two. ;)

[Hunter's Moon]

Thank you, everyone!

 

There are a few simple (in concept, that is) things that you can do that will make you better off financially than 90% of the population.

 

1. Always live within your means.

2. Choose a major/career with prospects.

3. Choose a spouse with similar values.

 

#1 is obvious, and #3 is pretty self-explanatory as well. If you marry someone with savings habits and/or poor income prospects, you will be poor all your life. As for number 2, a lot of kids go off to college and study theater or sociology or history. These may sound more fun than studying something like engineering or computer science, but you'll pay for that decision all your life.

 

I studied computer science and half the kids in my program dropped out of school because there were so many job offers they couldn't resist. Even for those of us who stuck it out there were great student jobs available. I was making $50,000 and getting valuable experience in my field even while I was finishing my last few classes and this was fifteen years ago.

 

Another great career is nursing. There is always a shortage of nurses and they make solid money.

 

I'd say this rule applies to women as well, even those who plan to raise children as their primary occupation. First, you never know what life is going to hand you. Your husband may get disabled, or pass away, or you might get divorced. Second, keep it in mind when selecting a spouse. What is his career plan? I don't know why (political correctness?), but this is a value that was once taken for granted by women seeking a partner but is often overlooked nowadays.

 

The career I am choosing is in high demand and as long as there are those with disabilities, it will stay in demand. Plus, there are so many different areas I could choose within Occupational Therapy. I could work in geriatrics, or pediatrics. I could work with those with sports injuries or in a private practice. Plus, it is very flexible, especially if I were to start my own practice eventually.

 

Thank you for all the advice :)

[Ali in OR]

Regarding the OT Assistant degree--I would really be cautious about the worth of this. I have a disabled child and have familiarity with OTs in different settings (school district employees, educational service district employees, Shriners hospital employees, private therapy employess from two different places). I have never come across an OT assistant. Now they might be in settings I have not encountered (such as working with adults), but it bears looking into further if you are tempted to do that degree. The school should be able to tell you where their graduates find employment I think.

[Mejane]

Just throwing this out there, as you seem headed in direction of the helping professions... my nephew just graduated with a pre-med degree on his way to becoming a Physician Assistant. Average PA salary is around $85K right now. Not bad!

[Mama Geek]

One other thing that I have thought of even though it is not directly related to college budgeting. In the engineering fields to be taken seriously the college you graduate from has to have ABET accreditation. This has a major impact on who will hire you, starting salary, as well as the becoming a licensed engineer.

 

I don't know if there is something similar to OT.

[Hunter's Moon]

The only reason I would go to school to become an Assistant first, would be if I couldn't afford to get into the OT program.

 

If I can get into the school with the 5 1/2 year OT program with a good amount of financial aid, I will go, but if not, I'll have to become an Assistant first, find a job and pay my way to becoming an OT.

 

One other thing that I have thought of even though it is not directly related to college budgeting. In the engineering fields to be taken seriously the college you graduate from has to have ABET accreditation. This has a major impact on who will hire you, starting salary, as well as the becoming a licensed engineer.

 

I don't know if there is something similar to OT.

 

There is and the college I want is accredited.

[TechWife]

When I was in college, a little known local man had just started a radio show on finances. His name was Larry Burkett. His company was called Christian Financial Concepts and later merged with another company and is now known as Crown.

 

One evening, Larry came over to our BSU and talked with us. He told us that if we take on debt, we are in bondage to the lender and that this would limit our options for the future, as we would always have to consider how we would make payments on that debt. In particular, debt can limit you from serving God in whatever capacity he call you to do.

 

Practically speaking, he strongly advised us to stay away from credit card debt. If we have a running car, he told us, there is no reason to get a new car just because you have graduated from high school or college. If you have no debt, live on as little as possible until you have a good emergency fund built up.

 

I took his advise. I have been blessed beyond measure.

 

Consider carefully how you will spend your $$. Clarify what a need is and what a want is. For example, if you have no home phone, a cell phone may be a need, but a data plan is a want that will make your life easier. Likewise, if you have a cell phone, do you really need a home phone? Do you really need cable tv?

 

Don't forget to figure in insurance costs - for a car, renters insurance and a major medical policy. Consider a room mate - although not all people are suited to having one. Carefully consider those with whom you do business. Make sure, as far as you can, that they are reputable.

 

You are so wise to ask these questions now!

[Alyce]

I would contact the specific college. Many states have an agreement with their own CC's that what you take in CC will transfer to a state college. What you need to know is what college class will they count as. My DD, like I said, is a dance major but she also needs another degree to fall back on. We had her do CC classes as dual enrollment so it would cost less for us in the long run. My ds is transferring to the same college this fall. What I found is that on our state's specific college websites there is a page that tells the student what general education course is required. Then there is another page where you can look up the CC you've attended and it will match the course you took at the CC with it's comparable course at the college. By looking at the gen ed courses first and then matching them to our CC they have been able to get much of their gen ed courses done at CC and were almost ready to start their major courses. It is true that my DD's courses didn't count in her GPA but that has caused no problems. Ds is set to transfer this fall. We already know what his courses will count as and doing it this way has made it much easier for them. I don't know what schools you are looking at. If you are looking at out of state schools that may make it harder for Dual enrollment courses to be accepted but usually once you have an AA the CC courses are accepted easier. There maybe a course that you took for your AA that won't be counted and you'll have to take it over at that school. So in the long run it is better to check with the school you plan on applying with. If you are going to a state school your school may having something similar on their website as ours does.

 

Another option you have is to take CLEP exams. This may also give you some college credits but these too may or may not be accepted so you will have to check with the college you want to attend. It too is a way to save money especially on the gen ed courses.

[Tutor]

Check out The Tightwad Gazette from your local library. There are some good, general articles on thrift in there, but the author also shares her thrifty living examples from when she was single as well as things she would have dome differently. I found it to be very encouraging and wish I had had it in my early married life.