As fall begins, students around the country are heading back to school. Just this week, my sister had her first day in medical school. (Proud, gushing brother) My sister, and many millions of others, are taking on new student loans this year. When you get a new student loan, you can choose your provider, and it is important to do the research to find a good fit for your needs.
Education
Solving Homelessness in America
Denver recently passed an “outdoor camping ban” which, in practice, is simply a law making it illegal to be homeless. This is far from a solution to the homelessness problem, it will just move the homeless to surrounding cities and states. It made me think about actual solutions to homelessness in America.
Money Tips for New Grads
This weekend, I had the pleasure of watching my sister graduate Summa Cum Lade from the University of Arkansas. While in Fayetteville, I watched thousands of students receive their degrees, but I realized that most did not get a financial education on par with their newly minted degrees.
Here are some top tips for new graduates around the world.
[Read more…] about Money Tips for New GradsBerkshire Hathaway 2012 Shareholder Meeting
“If you buy a business for less than it’s worth, you’re going to make money.” –Warren Buffet
This year, I made my third trip to Omaha for the annual Berkshire Hathaway shareholder’s meeting. Warren Buffet are Charlie Munger took center stage and shared their wisdom on investing, business management, and the economy to a packed house that included billionaire Bill Gates and rock superstar Bono.
While I will drip some of the wisdom into many posts for months to come, here are some top gems that made me think, laugh, or learn from the Oracle from Omaha.
[Read more…] about Berkshire Hathaway 2012 Shareholder Meeting
15 Random Tips For A College Freshman
This post is part of the Yakezie blog swap and was written by SB from One Cent At A Time. You can also see my post on the same topic at his blog.
As you enter a new chapter of life, freshmen, this is the perfect time for you to prepare to either change the world or be changed by the world. Only you will decide your course in either of these two directions.
You're probably out on your own for the first time in your life. Well, enjoy the world with the eyes of a free soul. It's very easy to get caught up in activities that could make you ashamed later in your life. Don't get carried away as your identity takes shape in college – the lessons in life take shape in college as well.
Now I am going to present you a few random tips that, if followed, could make you a better human being, a better student, and a successful person.
Choose your career according to your passion
Do not choose your career based on the income it can generate. If you don't like the subjects you're learning, your education will not be complete and your career will suffer. Find your passion and build your career around it.
You cannot be the best at everything
Don't try to be the best in studies, sports, and music. Choose one of them you are passionate about and try to do your best compared to others in it. Don't try to be Jack!
Remember the Golden Rule
Be good to others, including the fellow you least like in your class or dorm. Treat others well and you will be treated well!
Practice punctuality
Your parents are not there to wake you up at 6 o' clock, so get up at a set time every day, exercise, get yourself clean, go to class, and study.
Participate in sports
You are almost getting to your prime in terms of athletic abilities. Sports are a very good means of regaining bodily power and mental energy. You need both in your college days. Your body is still growing and you need stimulus for that brain, which has started accumulating knowledge that should sustain you for decades.
Take care of your finances
Learn to live below your means. Your education is perhaps going to put you in debt from the very first day you step out of college. Try to save as much money as you can from your student loans. Walking out of the college debt free is the best gift you can give yourself.
Save as much as you can
There are various ways of saving money in college on books, tuition and food. There are ways of earning extra money while in college by means of part time jobs. Find out your options and get going!
Don't miss out on a scholarship
Apply for all the scholarships you can; you might be successful if you apply for many. You will be surprised to know students don't even apply for many of the available scholarships. You could get lucky by virtue of just applying for them.
Share with others
Share your room and furniture and cook with roommates; they save you serious money! You can also get exposed to a different way of thinking, different cultures, and different types of food.
Study in groups
Form a study group, share your books. Help others in their study and get help in return. Many tough subjects seem easier to comprehend when discussed in a group.
Take no further debt beyond student loan
Get over the temptation of getting credit cards, auto loans, and all other ‘buy-now-pay-later' schemes.
Make friends
You could probably make the best friends of your life this year in college.Watch out for the people your best friend is mixing with; sometimes people act as recruiters for gangs (whatever be the reason of forming gangs, basically gangs are bad!). At the first hint of something “off,” stay away from this new best friend.
Don't be hesitant in seeking help
Seek advice from parents, siblings, aunts, uncles, grandparents… Basically those to whom you used to go for help so far in your life. Call them up whenever you need advice. You are not matured enough to tackle every problem in your life alone; there's no shame or harm in seeking help out.
Let it loose some days, sometimes
When being good gets boring, it feels good to let go occasionally. Late night parties, beers (if law permits) and members of the opposite sex can make your college life memorable. Many such parties and nights will give you something to brag about in the future.
Okay, you partied last night, you're happy, now be good again
At least for a few more days. No more partying today, you are in college for only one purpose, that is..to learn! Partying is just to take time off and rejuvenate your energy level.
My First Jobs: Camp and Retail
You all know that I have worked in banking and finance, but I have not told you very much about my more humble beginnings. Long before my MBA, years before my BSBA, I worked at a Boy Scout camp and a Target Store.
Boy Scout Camp
I spent seven summers on staff at the local Denver area Boy Scout camp. I started when I was 15 as a Counselor in Training (CIT) getting paid a whopping $5 per week. The $50 I made over the entire summer was not enough to pay for the uniform. Over the following summers, I had a range of jobs. I was (in order) a Program Counselor, First Year Camper Director, Assistant Director of Dining and Equipment, Camp Store (we had 3) Director, Order of the Arrow Director, and Assistant Business Manager.
What I Learned
You don’t have to make a lot of money to love your job. My favorite summers were early on when I made far less than $100 per week. During those summers I made great friends and had wonderful experiences. I did not always like giving up summers in Denver to be away working, but living in a tent, sleeping under the stars, and helping thousands of scouts learn and play made it worth it.
The Real Benefit
Aside from the networking aspect, I was part of a scholarship program for camp management. My entire undergraduate college experience (four years at the University of Colorado) was paid for by the Boy Scouts with matches by CU and another company.
Target
I started at Target as a sales floor associate. I was one of those people that made sure shelves looked nice throughout the day, helped customers find things, answer questions, stock products that were running low, and “other duties as assigned.” I was a sort of jack of all trades.
The schedule did not work well for me as a high school student, so I moved over to the cashier side of the store. I spent most of my two years at Target on the registers. I was also occasionally assigned to run the snack bar (.25 per hour pay differential!) or help the cart guy on a busy day.
What I Learned
When you have a boss, you have to do what they say. However, if you are a hard worker, do a good job, and perform well, they are willing to work with you on your needs. It is a two way street. Do your part and you will be treated well and respected regardless of your age.
The Real Benefit
I had to pay for car insurance, so I was there for the money. I also got a $1,000 Target Employee Scholarship for my first year in college.
You Are Not Too Good For Any Job
The most humbling part of working in a retail store and a camp is that you start at the bottom. I cleaned bathrooms and latrines, I scrubbed kitchens and offices, I built tents, I cleaned up from a virus outbreak, I taught archery, I was a trained lifeguard, I taught kids to swim, I carried heavy boxes to cars for old ladies. I did it all.
In today’s economy, people are often not willing to take a job that is “not good enough” for them. It is only not good enough if you are too good for money. Suck it up.
Your First Job?
What was your first job? What did you learn? How did it help you moving forward in life? Please share in the comments.
Photo by kevindooley.