Friday,
December 29, 2023
Top Story
Getting your money right now and in the future
Maybe you want to buy a home, or plan to have a family. Maybe you want to go back to school to change careers. Maybe you want to move to another state to afford a different lifestyle.
Whatever it may be, odds are it’s going to affect your personal finances. And while we’re on the topic of odds, you will very likely be best served drawing up a budget.
There’s a lot to keep in mind to stay financially fit: A rainy day fund for any emergency expenses, retirement savings, saving for big life events. The to-do list is long, and we get it.
But keeping yourself educated about your options is a big part of the deal, too. Take advantage of free resources, such as SoFi’s financial literacy library. Knowing more about how you can make your money work for you, might inspire you to start finding new, better ways to handle your household budget, or to start investing.
Don’t feel intimidated. None of this is rocket science.
How to fund going back to school
Thought about getting back to studying to make a career switch or advance in your profession?
Going from earning a salary to carrying textbooks (and not earnings a salary) can be a scary prospect. But there are ways to relieve this stress.
First, be sure it’s the right thing to do for you, and your career. Next up is how to pay for it. The Free Application for Federal Student Aid (FAFSA) is a good first step, as you also consider other scholarships and grants. And then, of course, there are private student loans to finance this new chapter.
When you evaluate whether going back to school is worth the cost, factor in things like your career goals, the anticipated job market after graduation, typical program costs, and average salaries for the career you are pursuing with the degree. Going back to school is a personal choice, for some it can mean opening the door to new employment opportunities. For others, it may not be worth the cost.
