How To Approach Any Financial Question

graduate school save moneyOne thing that people often fail to realize is that personal finance advice in not cookie cutter information. Everybody’s situation is different and what may be appropriate for 99% of the people may not necessarily be the best for you. You need to take into account all the factors that are specific to you when you analyze the information given.

At the same time, you need to be careful not to make assumptions. Here’s a question. If you are applying for a job, do you think that it would make a significant difference in the prospect of getting job interviews if you have listed on your resume a graduate degree from a regular college or one from an online college? One guy did an analy


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3 Responses to How To Approach Any Financial Question

  1. Joey says:

    Umm yeah, this person seemed to miss one tiny little flaw with his analysis… a lot of public and private universities now offer night and sometimes weekend courses which means you don’t have to defer anything. My wife did night courses at Woodbury University (private) for four years. Total deferred income? Goose egg. In fact, by being at a university for her bachelors, she was actually able to get a much better job, therefore increasing her income and offsetting the cost of school. Then we made the decision for her to get her MBA. We decided on Pepperdine. Going to Pepperdine’s Graziadio Business school at night meant once again that she didn’t have to defer any monies at all. As a matter of fact, she got an even better job and much better pay from the company that hired her because they felt they were getting a Masters quality employee without the Masters quality price. But we didn’t see it that way. She was now making 6 figures and with only a bachelor’s degree. So yeah, please take this person’s “analysis” which a heaping spoonful of salt. And don’t be lazy!

  2. Hashim says:

    “By taking the information you have and using it to the best of your ability to figure out the results, you can save yourself significant amounts of money over making assumptions.”

    That seems pretty obvious. I think the bigger lesson is to calculate Opportunity Costs so you get a clear picture of what the true cost is.

  3. Dan says:

    I think both reader comments have a point, and I think the answer is simply to analyze the type of job you have. If you have a position where you can afford to take night classes, then you’re all set. If you have a job that requires a lot of travel, such as consulting, then the ROI from the above calculations may be more applicable.

    I am certainly not saying that you should run out and start an online program (although I am in one and love it), but it’s certainly something to consider. The point is to try and make sure you attend the best accredited school you can after analyzing your life and work situation. Only then will you know whether or not the above calculations will fit into your life plan.

    On a separate note, I take issue with anyone saying an online program is a “lazy way out”. I work very hard in my AACSB accredited MBA program.

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