Archive for Education

How To Increase Your Finances While Off Work Injured

Injuries are something that can happen to anyone at any time. Interestingly enough, most injuries occur when you’re at work than anywhere else. Injuries can be extremely difficult depending on the severity of the injury, and can affect you both physically and mentally. What makes it even more difficult is if you are the only bread winner in your family. It`s one thing if your injury does not affect your job, but it`s completely different if you are not able to work as a result.

How do your bills get paid. How does your family eat, when the only source of income has just been cut. Some companies allow you to go on short term disability, or a paid leave for a period of time, but there are many companies out there, where if you get injured, you are just out of luck. This is where Medical solicitors can assist you. They are lawyers that help you make a claim in the event of an accident at work.

Seeking compensation while injured is a great way to supplement your income to assist with your day to day bills. Often times when people have an injury, they allow their bills to fall behind which can negatively affect them in the long run if they decide to obtain credit. It`s bad enough to have to go through an injury and not be able to work, but don`t make things worst by allowing your bills to fall behind.

There are many companies out there such as accident at work claims from First4Lawyers that can assist you in making a claim if you decide to go that route.  It`s always good to know your rights and all of the options that are out there. Often times people just assume they have no rights, and that is just not the case.  We always have options and it`s important to find out what they are, so you can be equipped to handle the uncertainties of life.

Are You Thinking About Getting a Mortgage?

Interest rates are at an all time low right both and many people are jumping at the chance to buy a new home.

House prices in parts of Canada are really expensive, but I guess it’s normal to most people who were either born here or have been here for a number of years. For first time home buyers, buying a condominium is usually the way to go. There is no maintenance, great amenities, and they are typically much cheaper than houses. A brand new condo could cost $300,000, where a brand new house can cost you upwards of $500,000 if you move outside of city. (The cost of course varies depending on the exact location)

Since there are not many people buying properties with cash here in Toronto, most will need to get a mortgage. Recently the government of Canada decided to tighten the rules where individuals putting less than a 20% down payment can only amortize their mortgage to 25 years, it use to be 30 years. This means that it is going to be harder for first time home buyers to buy a home.

There are many things a first time home buyer should consider when getting a mortgage.

  • The most obvious of course is knowing how much you can afford. There are tons of mortgage calculators online.
  • Shop around with different banks and credit unions. For some reason people seem to forget about credit unions. Their rates are quite competitive so check them out.
  • Read the fine print. Know what your options are if you break your term to get a better rate, switch banks, or sell your house.
  • Consider whether you want a variable or fixed rate. Variable rates for as long as I can remember have been lower than fixed rates. Do your own research to make sure you are comfortable with what you choose.
  • Check out their pre-payment options. I paid my mortgage off much faster because of this.
  • Ask what their payment frequencies are. I also used this to my advantage
  • Some banks offer options to lower your interest rate through a refinance or a blend and extend. I used this option quite often to get rid of my mortgage.
  • Ask what your options are if you loose your job, go through a divorce or are just not able to make your mortgage payments. There are many options out there if you find yourself in this situation. Selling your house is the absolute last resort.
  • Ask about assumption clauses. Some banks will allow someone to assume the mortgage from you.
The more you educate yourself upfront about the type of mortgage you want, the faster you will be able to pay it off, which is the ultimate goal. So don’t be afraid to ask questions, even if you think it’s a dumb question. Remember there are no dumb questions, just dumb people. Haha, just joking! Could you believe one of my teachers in high school told the whole class that. What a way to motivate us to ask more questions.

Jobs That Don’t Require A Bachelor’s Degree!

There’s a new book coming out in the fall called 300 Best Jobs Without a Four-Year Degree by Laurence Shatkin. This is fascinating because there is so much emphasis on people to get an education, but the reality is students can’t find jobs when they’re finished. This leaves students questioning whether or not a bachelor’s degree is really worth it.

I am all for education, I have one myself. But I am not a big fan of going into a bunch of debt to obtain it. There are many alternatives to obtaining a bachelor’s degree without debt, and even more alternatives according to Laurence if you either don’t want to get a degree, or are just not in a position to get one.

Did you know that you don’t need a bachelor’s degree to be a registered nurse? I had no clue. The nurses I know all have bachelor degrees. According to the study that Shatkin did, only an associates degree and passing the national licensing exam is required. Plus the average annual income for registered nurses is $65,950. That’s not a bad income at all.

Dental hygenist don’t need a bachelor’s either, only an associate degree is required. Dental hygenist on average make $69,280 per year.

Respiratory therapist are only required to have an associate degree as well and there average income is $55,220 per year.

Some other occupations that don’t require a bachelors degree are plumbers, electricians, pipefitters, steamfitters, brick masons and block masons.  These occupations are usually learned from on the job training, which gives these workers an opportunity to earn while they learn.

Was it surprising to you to see that some of these jobs don’t require a Bachelor’s degree? What’s interesting is that some of these people are making more money than some with bachelor degrees. 

I’ll leave you with this crazy but true quote. “I have a degree in liberal arts. Do you want fries with that?” Unknown Author

*These stats are based on U.S jobs

$70 Million Available In Scholarships, $7 Million Go Unclaimed!

When I see articles like this and then hear about the amount of students that have debt when they graduate, it makes me wonder how many students are aware of these scholarships.

Canadian Living had an article on scholarships where they mention that there are $70 million Canadian scholarships available each year and approximately $7 million go unclaimed. I remember when I was in high school getting ready to go to College, there was no mention of scholarships. I don’t even remember other students talking about it. It seemed as if it was some sort of secret society or something. Since scholarships wasn’t even a thought for me at that time, I knew I had to figure out a way to pay for school without racking up a whole bunch of debt. I began my search for a job that would pay for me to go to school. If I had known about scholarships, I would have definitely applied.

I don’t believe scholarships are advertised enough, and some students probably believe that you can only get a scholarship if you have high grades. Although having high grades will most certainly increase a students chances of getting a scholarship, there are other things that are taken into consideration, especially when it comes to private scholarships. Many individuals offer scholarships in honor of their child or a loved one. Most scholarships want to see that students are heavily involved in the community such as volunteering. They also look for well rounded students that care about others.

There are several scholarship websites such as Student Awards and Scholarships Canada where they match students up with scholarships that are best suited for them. This eliminates the work of having to sift through hundreds of scholarships looking for the ones you qualify for or not.

Both my friend and my cousin paid for their under graduate and MBA’s all on scholarships. They both applied for hundreds of scholarships to get all of the money they needed. My friend spent her whole entire summer applying for scholarships.

It does take a lot of work to apply for scholarships and it can get discouraging when you keep getting declined letters. But it’s well worth it if you get some scholarships and don’t have to go into debt to pay for school.

53% of Graduates Are Jobless Or Underemployed

More sad news for graduates. I was reading an article in the San Francisco Chronicle which says that most graduates under the age of 25 are either jobless or under employed. I remember the days when people just went to College/University, got their degree and hoped for the best. Not any more! I had no clue what I wanted to do when I was in College. At first I took accounting because I liked it in high school. Boy was I in for a rude awakening, I hated it and switched to business marketing after the first year.

Now it seems that students have to have a major plan for attending College or University. When I was in high school, I don’t remember much being offered to me to prepare me for what I wanted to do with my life. I guess one is just suppose to know. I am just starting to discover exactly what I want to do with my life.

I guess graduates are going to be forced to think outside of the box since they can’t rely on the traditional way of doing things. I know this seems sad for these graduates, but think how innovative they are going to have to become. These circumstances are going to force them to think differently from graduates say 10 years ago, who knew they were going to get a job in their field of study when they finished school.

The article mentions a 23 year old who graduated with a Creative Writing degree and now he’s making a little more than minimum wage. I wanted to scream though the pages to tell him to start blogging. I know many of us bloggers who did not study writing. I for one studied business.

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