COLLEGECAREERBUDGETING

Crafting Success: College Jobs as Building Blocks

Are you ready to embark on a journey of both education and financial growth? College isn’t just about hitting the books; it’s also an opportunity to develop practical skills that will set you up for a successful future. One of the ways to gain skills to use in your future includes getting part-time jobs or internships. According to the U.S. Bureau of Labor Statistics, in October 2022, 42.4% of full-time students and 81% of part-time students participated in the labor force. Having a job or internship isn’t just about earning income to pay for the things you need. It’s about building financial understanding, learning valuable life lessons, and getting a head start on the path to financial independence.

Why Jobs and Internships Matter: An Investment in Your Future

Taking part-time jobs and internships while in college can be considered crash courses in financial literacy. Just having a job and earning income exposes you to budgeting, saving and investing to better prepare for your future. This exposure is crucial, as only 53% of college students feel prepared to manage their finances, EVERFI found in a 2019 survey of 30,000 college students from more than 440 schools. Navigating monetary decisions in college sets the stage for future financial freedom and can help you start to distinguish between essential and discretionary expenses — which is vital if you’re working toward your independence goals.
Networking and Skill-Building

Another benefit to working while in college is the ability to network and create connections. According to LinkedIn, more than 70% of professionals land jobs through existing connections. Use this time in school to build a professional network to better prepare your future self for success. This time is not just about networking but also about building skills to last a lifetime. Time management, for instance, is a crucial skill. Learning how to balance school, work and social activities is a valuable first step to preparing for the world after college. To build these skills, try creating a detailed schedule to stay on track, making updates along the way to avoid missing anything important.

The Impact of Early Financial Decisions

The skills you build in college have long-term implications. Starting early with job experience and learning these skills can prevent pitfalls such as getting stuck in a cycle of debt or missing opportunities because you didn’t know how to find them. Poor fiscal choices can lead to crippling debt and a lack of confidence in your financial situation, and it can be quite challenging to recover from that.

Don’t underestimate the power of part-time work and internships during college. These experiences are more than just a paycheck; they are the building blocks of a secure future. Capitalize on this time to develop financial and life skills.

Sources:

https://www.bls.gov/opub/ted/2023/labor-force-participation-rates-of-college-students-differ-by-enrollment-status-and-type-of-college.htm

https://www.usnews.com/education/best-colleges/paying-for-college/articles/financial-literacy-what-college-students-need-to-know

https://www.linkedin.com/pulse/theres-art-career-networking-new-college-data-provides-george-anders