Subscribe to RSSGoing Back to School to Get Out of the Recession
In case you’ve been in an alternate dimension where the predictions of all the talking heads a year ago came true (i.e. we averted a full-blown recession, buying Washington Mutual stock was a good idea, and things are peachy keen now), I have news for you: we are in a recession, probably the worst one any of us, except the Depressioners, will have ever seen. With companies folding, unemployment at 7.2 percent, and the peak of the wave still to hit us, I want to recommend going back to school.
Naysayers may look at this suggestion and scoff, reasoning that a recession and a financial crisis is a terrible time go into more debt to get a degree. This, they would say, is a time to make what money you can and put it away.
I, however, am a big fan of the saying: “When one door closes, another opens.” When you lose your job, it is a perfect time to assess your life goals and make much needed change. When you realize you aren’t making enough money to sustain your lifestyle, it’s the perfect time to cut the fat out of your budget or explore other, more creative ways to supplement your income. In other words, when things are good, we tend to get frozen in inefficient, irresponsible patterns of behavior; when times get hard and things get hard, we have a chance to thaw and make things better.
So, in this time of thawing, I’m recommending go back to school for another degree as one of many great recession options. This option has three big plusses:
1. Another degree – You will come out at the end more skilled, more educated, and refreshed. On a resume, you will have one more degree to put you over the next candidate.
2. R & R – You will have a chance to remove yourself from the daily grind and then return, rejuvenated and ready to conquer. Nothing gets the mind hungry to work like a few years of solid learning.
3. Cheap money – College students have access to some of the lowest interest rates around. You may have to downgrade your lifestyle to live within a student loan, but is that such a bad thing.
Consider it. Don’t let the recession get you down. In this economy, there will be two kinds of people: the nimble (a.k.a. creative, flexible) and the beaten. Tell us about your recession strategies…
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