Managing Money

My Scottish parents taught me to manage money as soon as I could handle addition and subtraction. In fact, I learned the decimal system by understanding dollars and cents.

Students at University or other tertiary education are prime targets for money lender scams. Students usually think that their parents are too old to understand life, so the students learn life by error and trial.

The first scam is the Student Loan. The confidence tricksters paint a rosy picture of you getting an honors degree and accepting one of the high-paying jobs offered by talent scouts. They picture you having a life free of debt after you have casually eliminated the student loan.

Real Life

Some people do win lotteries. The tax man likes them to. Some students do become honors graduates.
Cartoon of student with a life companion of debt.
But you’re unlikely to find any talent scouts waiting. Workers have priced themselves out of the market. Employers are tired of paying all the extras such as superannuation, public liability insurance, holidays, sick leave, and tea breaks. Now they employ freelancers and dodge all these extra payments.

You say “Some jobs will always be there, such as physicians.” Perhaps, but if the medical associations don’t keep blocking it, modern computers working with nurses could do a better job. Doctors probably learn about nutrition in the second year. How much do you think they remember at the end of the seven-year course? Computers have perfect memories. They can’t be bribed by the drug companies, but the programmers can be.

So, learn bookkeeping to keep track of your money. There is a free program called GnuCash. Learn online how to use it. Then start using the ideas found here and in http://savewith.yanmac.com but do NOT take out a student loan. You can’t escape the loan by going bankrupt.

Learn to be versatile.