Page 5 - FP-Sample-Flipbook

Take Action! Growing Your Career If you want to make more money and be able

to live a lifestyle that gives you the freedom
If you want to see your income grow each year with Financial
„ I will research and identify my target job. raises and promotions, plan to invest 4-5% of your to live comfortably, plan for a family, buy a Literacy
„ I will calculate the ROI on training to get yearly budget on your own professional development. car, house, or save for your retirement, you No. 2
need to start with a plan for building your
to my target job. Building your skills builds your value to a company,
gives you more leverage to negotiate salary income.
„ I’ll research starting salaries for my increases, and gives you the flexibility to change Being gainfully employed, or having a
target job. jobs and careers as you choose. stable job and income is only the starting point. Your
skills and experience determine the jobs you can do and the amount of money
When the Numbers Don’t Add Up Skill Building you can earn. For many people the first step is choosing a target job and
©2017 Learnovation®, LLC
The goal is to limit the costs of education and „ Build experience using community service. going to college. For others, it’s deciding to work in a certain area and build
training to a level where you can receive the benefits Look at the skills you want to build, and find their skills with certification and training.
of increased income without having the burden of a contract community service opportunities to The term gainful employment is also used to measure the value of training
large student debt. If you’ve done the calculations demonstrate them. Document your experience and education, compared to the cost you pay, or your return on investment
and your costs are too high, it’s time to reevaluate... with a letter or work sample in a career portfolio. (ROI). Is it worth it? What is the total cost of your education- including tuition,
For Evaluation Only
„ Do you really need the top degree from a private „ Find internships and co-op experiences in your room and board, books and fees and other expenses? How much will you have
school, or could you get a good education career field. Build your skills on the job, and to borrow? Then, once you’ve completed your degree or training, will you be
from a state university with lower costs? build your network of professionals. able to get a job that pays well? How many years will it take you to pay back Value vs. Cost Gainful Employment
„ Are there other jobs in the same „ Many professions require a specific number your loans? How do you know if your investment of time and money was worth
career field you could do requiring less of Continuing Education Units (CEUs), it? Just what are your skills worth?
training? or education experiences, to maintain a
certification or license. This may include
„ Are there other ways to get to this job that attending conferences, training sessions, or Money Matters Gainful Employment Stats
cost less? Instead of starting with a 4-year presenting at a meeting.
degree, could you get there with a 2-year degree, „ In 2016, the average student loan
a certificate, and additional work experience? „ Get involved in professional organizations. 8 Invest in yourself -plan on using debt for a college education was
Then consider adding the 4 year degree. „ Keep up-to-date on the value of your skills. 4-5% of your yearly budget towards $37,172.
„ Look for jobs where your employer will provide Use www.onetonline.org to explore jobs in your improving your skills. „ How much can you afford to
tuition reimbursement. career path, identifying the skills, training borrow? You should be paying
opportunities, and salary ranges in your field. 8 Include the value of your time in 8% of your target job starting
any calculations. salary per year on student loan

Disclaimer: Try to maintain a 15% or less repayment.
Learnovation, LLC’s mission is to empower people to 8
®
©2018 Learnovation , LLC improve awareness of their own financial situation. debt ratio in your budget - where „ Education pays - a college
All Rights Reserved. This information is intended to serve as a general
www.learnovation.com guide of financial principles and strategies. It is not only 15% of your budget goes to graduate earns around 80%
intended to address individual financial issues, nor repaying debts. more over their lifetime than
should it be taken as legal, financial, or other advice. a person with only a high
school diploma.