College’s Striking Impact on Students’ Bank Accounts
It’s pretty well-known that college isn’t easy on your bank account. After all, without rich parents or a great scholarship, you’ll likely end up with thousands of dollars of debt that may take you many years to pay off. But in the short term, while you’re still in college, it may actually continue to have an impact on your bank account. OneClass recently completed a survey regarding students’ bank accounts, and whether you’re currently a student or you just want to know more about student finances, there are some interesting takeaways.
The Data by the Numbers
The study had a few different questions, mostly to try and map demographics, but the crux of the survey was a single question: How much money is in your bank account right now? This number included both checking and savings accounts. Here’s the raw data to that set of responses.
- 13.5% responded $0-50
- 22.8% responded $51-$500
- 10.5% responded $501-$1,000
- 10.3% responded $1,001-$2,000
- 20.1% responded $2,001-$5,000
- 13.0% responded $5,001-$10,000
- 9.8% responded $10,000 or more
These numbers already showcase some interesting concepts, but it can be hard to truly understand a survey with just the numbers. What do these numbers really mean?
A Substantial Chunk of Students Have Less Than $50 in the Bank
Looking at the numbers, you can see that 13.5% of all students who took the survey said that they currently have between $0-$50 right now. This is a pretty startling number — it’s barely enough to cover a dinner at a casual dine-in restaurant.
It’s true that this number could potentially not tell the whole story. After all, a student taking the survey may have just paid off large bills right before a paycheck. But the fact remains that over one out of eight people who took the survey reported this number, which is a pretty substantial amount.
Over a Third of Students Likely Couldn’t Cover a Surprise Expense
In its assessment of the United States’ financial wellbeing, the Federal Reserve asks a simple question: If you had to pay for a surprise $400 emergency expense tomorrow, how would you pay it? This is relevant because of the sheer number of people who responded that they currently have $500 or less in their banking accounts — definitely not enough to cover any sort of significant expense.
Altogether, 36.3% of students responded that they didn’t have more than $500. Though this statistic may not jump out to you as much as individual measurements, it’s an important one because it has to do with preparing yourself for an emergency. It’s definitely worrisome, regardless of antecedents that may have an impact on the responses.
Most Students Don’t Have Enough for an Emergency Fund
An emergency fund, according to most experts, should be enough to cover 3-6 months of expenses. This emergency fund could cover a person if they were to lose their job abruptly or experience an unexpected medical incident. But that adds up, and 3-6 months is definitely at least $5,000 in most areas. The fact of the matter is, most students just don’t have that much money.
77.2% of students, which is just over three-quarters, reported having $5,000 or less in both their checking and savings accounts. That means it’s not exclusively money stored away for use in case of an emergency. With that many students unprepared for a crisis, it’s definitely sobering to think about other collegiate expenses.
Conclusion
Certainly, some antecedents could have contributed to the results of this survey. After all, you can’t control for everything or ask every question about students’ finances. But it does give an important general conceptualization of students’ current financial wellbeing. What can you learn from this study? If you’re a current college student, it showcases how important it is to focus on maintaining your finances well. If you’re interested in going into college, it offers some insight into how important it is to build up a safety net of savings. Either way, you should definitely take heed of this information.
Is Diploma in Cyber and Digital Security Course a good Career Choice?
The arrival of the digital age has changed the way organisations function with large amounts of data now being stored online. This has brought its own challenges with data breaches, password theft and network hacks. Digital security has therefore become a pressing issue.
Since there is more demand in the digital security sector, individuals with relevant skills have many options when it comes to pursuing job opportunities. Moreover, the rapid takeover of the cyber world ensures that a career in this field is long-term and stable.
This article will help you to find out what the future of cyber security looks like and which courses are available for you to study.
Right course and future of cybersecurity
A simple diploma can provide you with a developed skill-set as well as practical knowledge that will enable you to find a good job in cybersecurity. However, later on in your career, you might choose to study at master’s level to help you progress in this industry. There are a variety of reasons why cybersecurity is a wonderful career choice such as:
Guaranteed jobs: With a diploma in this field, you will certainly be able to find a role and won’t have to worry about job-hunting. This sector is progressing rapidly and therefore getting a placement, even in the future, would be easy. It means you will always enjoy job security.
Huge scope for growth: You can grow your career in this field; potential in the digital sector is unlimited. Security has become an integral part of the IT industry and companies are ready to use all the resources required to secure their data.
Monetary benefits: Since companies rely on information to function, they will go to great lengths to ensure it is secure. Hence, they are ready to pay a good salary to proficient data security experts.
An impactful job: This is a job role that has a strong and direct impact on an organisation. Cybersecurity has its influence beyond the physical sphere of the company. The prospect of a data breach is terrifying and can have deadly consequences. A lot rides on the shoulders of data security professionals.
Scope of learning: Technology is ever-changing which makes this field an interesting one. You will always be learning something new on the job and building on your knowledge. You will also be exposed to challenges that would make your role more engaging.
Cybersecurity is a very complex and dynamic field that is a necessity for all organisations. Since information is now stored on the cloud, third party breaches are becoming common. Qualified professionals are in great demand as appropriate security checks have become a mandatory requirement for businesses.
Knowing what to study as an adult
After several years of being in the work world, you are likely to find yourself in a position where you are wanting to move jobs, get a promotion or start your own business. It is definitely a period of change and a deepening of understanding which direction you want to go into. It is often the pivotal point in your long-term career, where you have built some experience and have had some exposure but not if you’re ready to forge a clear way forward. It can be hard knowing what to go on to study that will equip you with what you need to make the next move. Here are a few ideas to picking your next learning pathway.
Project management course
You can do a diploma in project management because project management is underlying that supports just about anything you do in business and in your job. Having good project management will help you know how to manage people, manage budget and prioritise and execute tasks. You can choose whether to do your course online or through a university or college, but make sure that it is a recognised certificate or qualification that you can use to improve your resume.
Business acumen ability
Being in business you will want to have a better understanding of how business works overall, whether it be how money is made, money flows through the business or how the practice of management strategies, such as lean management can help improve cash flows and profits. There are several courses that can help develop your business acumen. Popular ones would be a diploma or master’s in business administration and while the name is a bit misleading, you will learn the basics of all aspects of business. This includes marketing, economics, accounting, and even human resources and logistics.
Go industry-specific
Depending on what industry you are in and what direction you are wanting to go and grow into, your further learning may be best suited around doing something that is industry-specific and helps. It could stand you in a good position if you’re looking to improve or motivate for a bigger paycheque because if you’re better skilled and qualified in your position, you will be highly valuable to your company.
General short courses
There are tonnes of short courses available online which don’t necessarily have the credibility of a university or college but do offer comprehensive learning tools to learn a particular skill. This could be a great way of identifying and boosting your skills and knowledge in something like software skills or in public speaking. The range of what is available is vast and you can almost do just about anything. Try to find a way to map your skills and identify the areas that you are lacking. Speak to your colleagues and bosses about what they’d like to see you do better at and find a course that can address that. The cost of these courses can be incredibly low because they work on a model of scale.
What Counts As Cheating in a College Relationship?
Cheating is an awkward and difficult situation to approach. But it’s harder when you’re not really sure whether it was even cheating in the first place. This is even more common in college relationships because they’re often more casual than relationships when you’re older. You’re just spreading your wings and trying to find your place in the dating world. In these types of relationships, what really counts as cheating? Before you decide to figure out if your partner is cheating, take these steps to settle your worries.
Really Think About What Makes You Uncomfortable
Each person is going to have different boundaries in a relationship. What you consider cheating may not be what others consider cheating. Is it cheating if your partner maintains a profile on a dating app? Is it cheating if your partner texts other people in a flirty manner? Some behaviors, such as liking a slightly risqué picture on social media, may be incredibly important or not remotely an issue, depending on the person.
You don’t need to write down a list of every single behavior that you would consider cheating, but it’s important to draw some general guidelines. In the physical sense, what counts as cheating? Consider the same question for emotional closeness and online presence. That way, you’ll at least have all your bases covered.
Temper Your Expectations
Remember that not every partner you have will probably think exactly the same as you do when it comes to cheating. Unless you’re in favor of an entirely open relationship and you only date other people who feel the same, you’ll probably have some differences between your expectations. You need to be willing to come to an agreement somewhere in the middle.
Determine what things are most important to you and what things you’re willing to work through. If you both have extremely strong opinions on certain behaviors that neither of you are willing to budge on, it might be time to move on from the relationship. This is another part of dating in college: it doesn’t mean that either of you are bad people, just that you don’t match quite right.
Talk Candidly With Your Partner About Boundaries
You don’t want to determine your boundaries and then just hope that your partner picks up on those boundaries throughout your relationship. Although it might feel a bit awkward, you want to talk to your partner about your boundaries as soon as things become “exclusive.” It might not be the right topic for a first date, but you should talk about it as soon as you feel like your relationship is a little more serious.
This also makes it easier if your partner does cheat later on in the relationship. If you don’t make your boundaries known early on, it’s easier to end up miscommunicating, which can unintentionally damage the relationship. Particularly unscrupulous partners may even use it as a way to turn things against you. It’s better for all involved if you just address it directly.
Maintain Your Boundaries Through the Relationship
Once you’ve set those boundaries, remember that it’s okay to stick to your guns throughout. Just because you’ve been dating someone for a long time doesn’t mean they’re allowed to do things that make you uncomfortable.
This doesn’t mean that you absolutely have to keep your boundaries the same as they were at the start of your relationship. You can renegotiate certain boundaries throughout the relationship. If your feelings change and you’re more comfortable with certain things now, that’s okay. Just don’t let your partner make you feel guilty for holding those boundaries.
Conclusion
There are plenty of ways that you can discover if someone is cheating. But it’s extremely important that you establish what is and isn’t cheating before any of these problems even come up. Before you start worrying that your partner is cheating on you, take a step back. If you’re willing to have a serious conversation with your partner about your cheating boundaries, the relationship will work better for everyone involved.
Why choose accounting and finance as a career?
It is well known that obtaining an internationally recognised professional qualification such as ACCA can open doors to tremendous opportunities worldwide. It is considered to enable you to progress your career and rise through the hierarchical ladder. It is generally suggested that students who aim to pursue a career in accounting, banking or finance should possess an ACCA membership under their belt. This article talks in details about the importance of ACCA in accounting and finance and in creating a platform that allows you to connect with students and experts across the world.
Benefits of ACCA qualification
- It is a comprehensive certification course that covers the technical and management skills that are necessary for a chartered accountant to possess;
- The syllabus of ACCA programme includes wide-ranging topics that well-equipped accountants are expected to master;
- The flexible exam dates, curriculum, entry requirements and other study plans that it has to offer, helps you gain competence in the fields of strategic and organizational development;
- The practical experience gained while preparing for ACCA comes to aid while working in multinational companies, as it prepares you for a global presence;
- Undergoing this programme will give you the ability to track the needs of industry and employers, which is why this qualification is respected by employers and business partners, globally;
- The real-time experience of becoming an ACCA member equips you with the requisite skills are in demand worldwide.
Career prospects in accounting and finance
Obtaining an ACCA certification will allow you to firmly establish your career in finance and accounting, enabling you to land jobs in multinational companies. Furthermore, being ACCA qualified will give you the opportunity to set up your own business (a finance or consultancy firm). It gives you a grounding in corporate and business law that instils in you the ability to become an advisor to small and medium-sized enterprises (SME’s). To be specific, an ACCA qualification gives you an edge over other people who are applying for the same job as you.
Landing a career in ACCA is typically considered a great achievement, as it provides students with immense exposure at an early stage of their career. The practical training provided during the preparatory phase assists students to learn about a great deal about business which comes handy in the latter stage of their career. An ACCA qualified candidate is distinguished among others, as they tend to strive for excellence so as making no compromise in their delivery to clients. If you are interested in acquiring the ACCA qualification, then applying to a preparatory course can increase your chances of becoming an ACCA member.
