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WSJ: ‘Financially Hobbled for Life’: The Elite Master’s Degrees That Don’t Pay Off

longdi

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Jun 7, 2004
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This is happening everywhere, in developed countries, even in China where there is small growing movement of laying down flat.

I wish students and young people would focus more against the debt traps that the top have on us, instead of silly woke'ism and gender identity etc tra.
 
Oct 26, 2018
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This is happening everywhere, in developed countries, even in China where there is small growing movement of laying down flat.

I wish students and young people would focus more against the debt traps that the top have on us, instead of silly woke'ism and gender identity etc tra.
Yup. And it's not even just about which school programs cost a lot vs. salary prospects. It goes beyond that. Everyday habits. They got to teach young people courses in this over Psychology 101 or Geography.

Maybe it's bad family values, the internet and social media age, maybe a combo of both...... put in some time and look at your spending and credit card debts. Unless you are someone who just doesnt give a shit and doesnt care if you got collection agencies coming at you with a credit rating of bottom of the barrel, put in some time and ethics and pay your bills and get your finances in line.

Do what I do and make an excel spreadsheet and check it over a couple times a year. It's not like I'm looking at it every week. You don't need to download budgeting software either.

I've never missed a credit card bill except 3 times (I even remember them). Each time was because I forgot to pay. I paid a day or two later. That was when there wasnt automated withdrawals and old school way of paying (wow this is like the 90s) was paying it at a ATM or mailing a fucking cheque in time.

Tip: If you miss a payment and call them and pay right away to pay, youre credit score wont get dinged. You got like a 5 day grace period. Might depend on the credit card though, but thats what CSR told me.

Tip 2: If youre desperate and need to have a balance, get a line of credit (every bank will give you one). Interest rate is probably prime + 5% at most. Why pay 22% credit card interest when you can be in debt for maybe 8% using LoC? Your bank has probably desperately sent you letters in the mail hoping you do it. Put away that VISA card and borrow LoC.

Tip 3: It's time you want to buy a home and are scoping mortgages. Your mortgage amount and terms approved depends on what mortgage you get and your monthly disposable income and credit rating. It is NOT based on your salary. All your loans are centrally compiled and every bank and credit card place sees all your stuff. There's no hiding. You want more mortgage approved? Cut down your monthly spending and get rid of as many monthly debt payments you have on file. For my investment property going up, my mortgage guy even told me to pay off my car so that frees up $900/mth. I was just going to coast on it and keep the money in my bank, but he said when it's mortgage time, pay it off if you can and get it off the books. Done.

Since automatic payment systems got launched, never missed a bill. Paid in full every month even when I was in university (if you exclude my 3 misses by accident) or had my first office job living pay cheque to pay cheque for probably 3 years before I got promoted and made extra money. Then instead of blowing it, I still lived the same so I could bank money. Fast forward, and I got enough to buy cheap investment condos because I could scrounge up $10k as down payments and roll the rest into a mortgage. It's a good cycle if you can keep spending in check and roll it into investments where things "usually" go up. I have never seen one person I know lose money on a property.
 
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Feb 3, 2015
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This is happening everywhere, in developed countries, even in China where there is small growing movement of laying down flat.

I wish students and young people would focus more against the debt traps that the top have on us, instead of silly woke'ism and gender identity etc tra.

I wish our politicians cared about student debt traps and student debt as much as they pretend to care about culture war nonsense to appease morons… instead of letting 18 year olds figure out how to avoid crushing debt that will collapse our economy while just trying to get an education.
 

dr_octagon

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Apr 25, 2009
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personal responsibility is definitely the main element. students also get sold false expectations and it's unfortunate because of a combination of things, pressure from family, career, social media, inexperience, stigma of not being 'educated', no guidance etc.

it is a money making industry and even with the prestige, future success will rely on networking and luck (not just hard work). trades and other routes are promoted because it's not prestigious (despite being important and teaching key skill) and they can't profit as much compared to a degree. why would you put a cap on student numbers or encourage a different course or avoid university when it is so profitable?
 
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Oct 26, 2018
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That video reminded me of this thread
LOL.

In reality, money is out there. People just got to scope around and do grubby jobs nobody else wants to do.

Anyone here think that janitors get paid minimum wage? LOL. Dead wrong.

If you get hired as a shopping mall janitor, maybe they dont make great cash. But if you score a contract to clean standalone office buildings and warehouses (because that company is too lazy or small to have their own facilities employees cleaning toilets, garbage cans and vacuuming carpets for a couple hours) you can get paid $300-500 per visit. And it's not like it takes all day. You do it for a couple hours and then go to another building you have on contract. Trying solicit business from a giant tower likely wont get you anywhere since the office building owner likely has their own cleaning contract, but for random businesses you see driving down the street many of them dont clean their own facilities. They just hire someone that comes in on weekends.

Many of these places are small independent cleaning businesses where they come with their own shitty car and a family member joins them to clean the office.

We get solicited with cleaners asking to hire them all the time.

The downside to the job is you work off hours when the building is empty like weekends or after dinner, so you might not get 9-5 hours.
 
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Deleted member 820760

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Never went to college, yet I earn a very nice wage. All I did was do a bit of research on what jobs were in demand and I also kept an eye on what courses were being offered for free by TAFEs. I'm now a disability support worker and I absolutely love it!!

I used to work shirty low paying factory jobs... I wish I had of madenthe change earlier.
 
Oct 26, 2018
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Never went to college, yet I earn a very nice wage. All I did was do a bit of research on what jobs were in demand and I also kept an eye on what courses were being offered for free by TAFEs. I'm now a disability support worker and I absolutely love it!!

I used to work shirty low paying factory jobs... I wish I had of madenthe change earlier.
Many people want good pay while putting zero effort into skills and further education.
 
D

Deleted member 820760

Unconfirmed Member
Many people want good pay while putting zero effort into skills and further education.
Yep. I used to be one of those people. It's amazing how quickly my personal life and work life improved when I just bothered to try.
 
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Oct 26, 2018
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Yep. I used to be one of those people. It's amazing how quickly my personal life and work life improved when I just bothered to try.
Even for higher paying jobs, you can get a boost just by doing extra work.

My teacher friends (Ontario) says you get pay boosts by doing some teacher courses on the side. I'm not sure what exactly they have to do, but sounds like the board of education has some optional courses to take to increase your qualifications. If you are willing to do them, your salary gets boosted. If you dont, you get no boost.
 

duhu1148

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May 18, 2018
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Thankfully, I was smart. I went to a cheap college to get my worthless degree. Had all my loans paid off in 4 years.
 

The Pleasure

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Jan 8, 2019
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This is happening everywhere, in developed countries, even in China where there is small growing movement of subscribing to gamepass.

I wish students and young people would focus more against purchasing games and subscribe to gamepass and netflix.
Auto correct is a hell of a program. But seriously so many entry level jobs now require a 4 yr degree for no reason. Gatekeeping jobs that pay more than minimum wage was a huge detriment to this country.