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College or business, which would be better

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posted on Aug, 9 2018 @ 12:36 AM
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Hi, bit of advice please

I am in a bit of a situation right now where i don't know what the best strategy be

First i would like to clarify that I'm not looking for specific money management advice but in a more general strategy about what to do in my case

Would just like to get some opinions in general to help me figure out, i know there are people here who have lots of experience and i would just like some input on my current issue. Of course i know i need to think this more and eventually talk it with my family but right now I don't feel i have things very clear in my mind and time running out is making me not think correctly


So here's the explanation

In the past 5 years or so i have saved some cash which along with some other cash i got from my grand father several years ago will be about 10,000 dollars at the end of the year

I will be 18 on December 25 at which point i will be able to use my money in whatever way i need, well at least i hope so


I know i have to go to college but also i know this is not enough money to go through it without working a job or continue to depend on money sent from home. I am not in the US so this money will last me more than when compared to the US or other country but not that much that it takes care of everything, not even by a remote chance

I don't want to depend on my family anymore, i know if i go to college now i will continue to depend on them for the next several years and then probably end up spending all my savings along the way and end up with a degree no money and looking for a job desperately

I though about two options

- Go to college, probably spend the cash i have in getting the best out of college, get a degree and look for a job after

- Start a small business, spend two years working on it and then once it is stable and i can get a stable life, even if not very good, i can go to college but continue to keep the business and hire someone to help me in the meantime

There are two reasons for this, first i have done lots of reading and i see lots and lots of people saying they can't find a job in whatever career they chose, then end up working on shops or other places that sck

I also see people here with the same problem, so it kind of makes me worried to follow that same road without being prepared for what's next once college is over

On the other hand i know 10,000 is not enough for a big business but i know here it can build a small but decent coffee shop for example or other similar small business. If i can wait for college a couple years and take the chance with the business i feel like i would be able to have more opportunities after college, it is a risk but i feel like is less risky than just hoping i will find a good job after graduating and then end up at starbucks

My head is a mess and i feel like i can't make a choice, i can't talk about this with my family because hell will break lose if i sound like i don't have a clue what i want or what i'm doing. So i'm trying to prepare a plan and focus and have a good way to explain this to them, so that they don't eat me alive as usually happens if i fail to show i know what i'm doing and that i'm in control of things


Which option would you chose if you had to select no more than one week from now?
Am i being dumb here and not seeing things properly? I don't know anymore




posted on Aug, 9 2018 @ 12:54 AM
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Scholarship programs, student loan, and a focused field in some STEM field in demand (consider the job market in about 10 years, if you see it becoming more in demand, thats a good bet).

Start a business in your 30s once you have a real amount of savings behind you and a credit history....also if it fails (many if not most small businesses do...especially the first) you at least have a trade to fall back on.

Avoid degrees in any arts like programs...no long shots. Things ppl will always need are things like dentists, electrical engineers, etc.

You could also go the trade route and become an electrician or something...just a AS degree and an apprenticeship.
Point is, while your young and your brain is all spongey, get a trade that will secure you a lifetime of employment.

Rarely do ppl go back to college after going from HS to work trying to make a business or something...life gets you real quick with the work to pay bills cycle and you will find it increasingly more difficult to find the time to go back to school.
edit on 9-8-2018 by SaturnFX because: (no reason given)



posted on Aug, 9 2018 @ 01:02 AM
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Everyone's path is different and you will probably hear all Kinds of answers here ... Which may confuse you more ..... In my experience , no matter how well
You plan it , life will Throw you a curve ball . A college education is very important....most companies require a degree when hiring ...And , Knowledge is Power in life . Also, You should think about the possibility of a job in a company , or government job , that will give you a retirement check ,



posted on Aug, 9 2018 @ 01:06 AM
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Side note : A business you Could Start and make good money .. After you get your degree in this field ... That will always be in demand is a mortician !... You could Own a funeral Home .... People would be just dying
To come see you !! Ha !!!



posted on Aug, 9 2018 @ 01:07 AM
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Business. . .

What is your business model ?
Is it sound enough for you to get a business loan?
What is your projected profit margin? Is your business unique to your area?
If so, what need are you fulfilling for the community?
If not, what put's you apart from the competition?
What does your projected profit/loss statement look like?
Do you need employees?

These are very basic questions. I hope you have answers. I do not need the answers, I just hope you have them.

Also remember you should not expect to see any profit until at least the second year. Possibly not until year 3 or 5.


College. . .

I work for a university. I attended a state college. I did not finish my degree.

Pros for college:
The college experience (read as parties and learning how to be an adult).
Networking.
Whatever learning you gain in your chosen studies, and the general knowledge you graduated HS with, reinforced.
A piece of paper that tells companies you are willing to go into debt to prove you will finish something.

Cons for college:
You will learn half as much in twice the time by being in the classroom vs. on the job.
You will have an amazing amount of debt shadowing you for at least the next 2 decades.
It will not make you smarter.



It all comes down to you and what you want to study. As well as what you want to do.
I wish you all the best.

Going off of your OP, I cannot recommend either course of action you laid out in your OP.



posted on Aug, 9 2018 @ 01:17 AM
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F# college, save your money, get a job in the field you want right now and learn the business. Know what you are doing in and out, then start your own.



posted on Aug, 9 2018 @ 01:31 AM
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originally posted by: SaturnFX

Avoid degrees in any arts like programs...no long shots. Things ppl will always need are things like dentists, electrical engineers, etc.



Here I will disagree with you. A degree in theater, should set you up for knowledge in the trades. Teach you how to work collaboratively. Teach creative problem solving, and a host of other skills employers want.

www.backstage.com...

I could find other articles, but this one works even if it dosn't go into the trades.



posted on Aug, 9 2018 @ 02:18 AM
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originally posted by: randomtangentsrme
Business. . .

What is your business model ?
Is it sound enough for you to get a business loan?
What is your projected profit margin? Is your business unique to your area?
If so, what need are you fulfilling for the community?
If not, what put's you apart from the competition?
What does your projected profit/loss statement look like?
Do you need employees?

These are very basic questions. I hope you have answers. I do not need the answers, I just hope you have them.

Also remember you should not expect to see any profit until at least the second year. Possibly not until year 3 or 5.


College. . .

I work for a university. I attended a state college. I did not finish my degree.

Pros for college:
The college experience (read as parties and learning how to be an adult).
Networking.
Whatever learning you gain in your chosen studies, and the general knowledge you graduated HS with, reinforced.
A piece of paper that tells companies you are willing to go into debt to prove you will finish something.

Cons for college:
You will learn half as much in twice the time by being in the classroom vs. on the job.
You will have an amazing amount of debt shadowing you for at least the next 2 decades.
It will not make you smarter.



It all comes down to you and what you want to study. As well as what you want to do.
I wish you all the best.

Going off of your OP, I cannot recommend either course of action you laid out in your OP.



I have been working on a business plan, with some help from friends that own businesses, still need more time but unfortunately have to make a choice very soon

I did expect the two year before profit thing so I was planning more or less based on that but i know it could be more or less or not succeed at all, one of the things that have me doubting

Thanks for your reply



posted on Aug, 9 2018 @ 02:23 AM
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originally posted by: SaturnFX
Scholarship programs, student loan, and a focused field in some STEM field in demand (consider the job market in about 10 years, if you see it becoming more in demand, thats a good bet).

Start a business in your 30s once you have a real amount of savings behind you and a credit history....also if it fails (many if not most small businesses do...especially the first) you at least have a trade to fall back on.

Avoid degrees in any arts like programs...no long shots. Things ppl will always need are things like dentists, electrical engineers, etc.

You could also go the trade route and become an electrician or something...just a AS degree and an apprenticeship.
Point is, while your young and your brain is all spongey, get a trade that will secure you a lifetime of employment.

Rarely do ppl go back to college after going from HS to work trying to make a business or something...life gets you real quick with the work to pay bills cycle and you will find it increasingly more difficult to find the time to go back to school.


Unfortunately no student loans on this country, i need to either raise my own money or depend on money sent from home. It will be one or the other once I chose, they won't help if I don't chose college but that is fine as long as I can keep things in control

Good point about people rarely going back to study after years of work, I did not think of that before but now I see how easy it would be to end on that road too



posted on Aug, 9 2018 @ 02:44 AM
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If you start a business I wold NOT under any circumstances open a brick and mortar buisiness. If you do start a business you would be much better off in the virtual world either marketing your own virtual product or services or someone else’s products or services.

Ideally you could spend a couple months getting a real estate license. It would be inexpensive relative to a college degree and cheaper than starting most businesses. Real estate will give you an instant career and long term the easiest way to become wealthy is through buying, selling and owning real estate.

If you do decide on college then attend a community college for about 1/3 the cost of a standard college education. You can get your degree and no one really cares where your degree is from unless you go to a top school so go for value.

I am not sure what the specific conditions for where you live are, but if I was beginning my life with 10k in the U.S. these would be my potential strategies.

One thing I have found is there is almost always a way to get whatever you wAnt for free or nearly free. You simply need to be creative and open minded.

Good luck!

edit on 2018/8/9 by Metallicus because: Sp



posted on Aug, 9 2018 @ 02:46 AM
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a reply to: WarriorMH

Just know that every decision you make in life is a gamble and there are no promises.

Depending on your personality and work ethic, I say follow your heart.

If you go to college, dread it, and struggle to complete it because all you can think about is getting out of there in order to get a job, it's not worth it. Don't waste the money if you don't have the personality or patience to work hard and get good grades.

Before you invest in a business, research it thoroughly and know exactly what you're getting into! Talk to someone who owns a similar business. Find out all of the details clear down to every tax law, license and permit laws, etc.

What someone else said about the statistics on going back to college at a later date is true also. A lot of people don't end up going back, but if you've exhausted all of your other options and you realize that you need a degree later, it's still possible and you can always go back. You may even want to research how to get a degree online. It may not carry as much weight as a degree from an accredited university, but you may find it more conducive to your lifestyle depending on what you end up doing anyway.

Best of luck to you!



posted on Aug, 9 2018 @ 05:54 AM
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a reply to: WarriorMH

figure out what you enjoy doing, and find a way to incorporate that into a job. Learn how to do that job extremely well. Then, when you are as good as you feel you can be, start your own business, and find people to help you with the parts you aren't good at.

But doing something you like is key.



posted on Aug, 9 2018 @ 02:38 PM
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$10,000 would be enough to buy a desktop PC/Apple Mac, software licenses and set yourself up in web page design, animation or some other freelance type of work...

Maybe there are companies that offer apprenticeships or sponsored qualifications?



posted on Aug, 9 2018 @ 03:31 PM
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originally posted by: network dude
a reply to: WarriorMH

figure out what you enjoy doing, and find a way to incorporate that into a job. Learn how to do that job extremely well. Then, when you are as good as you feel you can be, start your own business, and find people to help you with the parts you aren't good at.

But doing something you like is key.


I would like to do a science related degree but that may not happen with some help, also I do like what my business idea is about so I think I would've happy there

I got good advice here and have realized I still have to figure lots of things but I think l'm getting there



posted on Aug, 9 2018 @ 03:35 PM
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originally posted by: stormcell
$10,000 would be enough to buy a desktop PC/Apple Mac, software licenses and set yourself up in web page design, animation or some other freelance type of work...

Maybe there are companies that offer apprenticeships or sponsored qualifications?


Incidentally, I already have a Mac and a laptop PC, I am not particularly interested in things like creating web pages but web design sounds a bit nicer than Starbucks or another job like that lmao

I'm not sure I would be good enough though, as I have some problems with my eyes, but who knows, I will definitely look more into this option



posted on Aug, 9 2018 @ 03:40 PM
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originally posted by: Deetermined
a reply to: WarriorMH

Just know that every decision you make in life is a gamble and there are no promises.

Depending on your personality and work ethic, I say follow your heart.

If you go to college, dread it, and struggle to complete it because all you can think about is getting out of there in order to get a job, it's not worth it. Don't waste the money if you don't have the personality or patience to work hard and get good grades.

Before you invest in a business, research it thoroughly and know exactly what you're getting into! Talk to someone who owns a similar business. Find out all of the details clear down to every tax law, license and permit laws, etc.

What someone else said about the statistics on going back to college at a later date is true also. A lot of people don't end up going back, but if you've exhausted all of your other options and you realize that you need a degree later, it's still possible and you can always go back. You may even want to research how to get a degree online. It may not carry as much weight as a degree from an accredited university, but you may find it more conducive to your lifestyle depending on what you end up doing anyway.

Best of luck to you!


Got it, I understand I could lose but I'm not afraid to take the chance, I know it would eat me inside for years if I fall under pressure and let go of what I really want to do

I have a couple friends that know well their business and have been helping me for a while in learning how they manage their business, it's been more or less a hands on approach where I have been there watching and learning day by day so I feel like I'm getting very good experience on how to manage a bar or coffee shop, which is what I was thinking about at first



posted on Aug, 9 2018 @ 06:08 PM
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originally posted by: randomtangentsrme

originally posted by: SaturnFX

Avoid degrees in any arts like programs...no long shots. Things ppl will always need are things like dentists, electrical engineers, etc.



Here I will disagree with you. A degree in theater, should set you up for knowledge in the trades. Teach you how to work collaboratively. Teach creative problem solving, and a host of other skills employers want.

www.backstage.com...

I could find other articles, but this one works even if it dosn't go into the trades.


Are you saying that you are hiring?



posted on Aug, 9 2018 @ 06:12 PM
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originally posted by: WarriorMH

originally posted by: stormcell
$10,000 would be enough to buy a desktop PC/Apple Mac, software licenses and set yourself up in web page design, animation or some other freelance type of work...

Maybe there are companies that offer apprenticeships or sponsored qualifications?


Incidentally, I already have a Mac and a laptop PC, I am not particularly interested in things like creating web pages but web design sounds a bit nicer than Starbucks or another job like that lmao

I'm not sure I would be good enough though, as I have some problems with my eyes, but who knows, I will definitely look more into this option


Don't go into web design...a dime a dozen and most people go with full service IPs which are basically free to put up. If you really wanted something to do with design, become a marketing specialist...here would involve schooling, or at least courses.



posted on Aug, 9 2018 @ 06:44 PM
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originally posted by: SaturnFX

originally posted by: WarriorMH

originally posted by: stormcell
$10,000 would be enough to buy a desktop PC/Apple Mac, software licenses and set yourself up in web page design, animation or some other freelance type of work...

Maybe there are companies that offer apprenticeships or sponsored qualifications?


Incidentally, I already have a Mac and a laptop PC, I am not particularly interested in things like creating web pages but web design sounds a bit nicer than Starbucks or another job like that lmao

I'm not sure I would be good enough though, as I have some problems with my eyes, but who knows, I will definitely look more into this option


Don't go into web design...a dime a dozen and most people go with full service IPs which are basically free to put up. If you really wanted something to do with design, become a marketing specialist...here would involve schooling, or at least courses.


So too many people in that area ok, i was not planning to but i do look into every option, marketing specialist sounds like college too so if that were the case then i would better accept having to depend on cash from home and go into it fully with what i want to study instead of an alternative career

I'm going to look more into this other option too in any case, sounds interesting from what i read searching a bit on the web

Honestly starting a business until i'm 30 makes me feel very anxious, i don't know why but i feel like i have lost lots of time and opportunities by then, maybe i'm wrong i'm just feeling like that right now.

I don't want to depend on someone giving me money for 4/6 more years or whatever, i hate having to ask for things and receiving a no response just because

The way things look right now it seems i won't be able to keep going for long if i completely drop help from home so it seems i will have to compromise at least for a while



posted on Aug, 9 2018 @ 06:44 PM
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Do both. Be resourceful. You'll find a way.







 
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