Jill Schlesinger, an Emmy Award-winning Business Analyst for CBS News and host of the Jill on Money podcast, dives into the nuances of educational investments. She discusses common pitfalls in pursuing degrees and certifications and emphasizes the importance of tailored financial advice based on individual circumstances. Jill also highlights transformative career changes, the evolving landscape of education, and how personal experiences can reshape financial decisions. Her insights encourage listeners to align their learning with personal goals for a fulfilling career and life.
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Jimmy's Coding Bootcamp Success
Jill Schlesinger tells the story of "Jimmy" who quit his job to attend a coding bootcamp.
Despite initial doubts, Jimmy landed a high-paying tech job and achieved career satisfaction.
volunteer_activism ADVICE
Define Educational Goals
Identify the precise skills or knowledge you want to gain by going back to school.
Determine exactly how the additional education will benefit your specific career path.
insights INSIGHT
The True Cost of Education
The true cost of education extends beyond tuition.
Consider lost salary, potential debt, and the time commitment involved.
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In 'The Dumb Things Smart People Do with Their Money,' Jill Schlesinger provides insights and advice on a range of financial topics. The book highlights thirteen costly mistakes people often make, such as buying financial products they don't understand, taking on too much college debt, and failing to protect their identity. Schlesinger draws on her experience as a Wall Street trader, investment adviser, and money expert to offer practical and accessible rules for managing finances. She also delves into the emotional side of money and how it affects decision-making, using personal stories and real-life examples to illustrate her points.
The great reset
100 Days of Malaysia's Triple Crisis
Chin Tong Liew
This book captures the nuances of uncertainty during an unprecedented time in Malaysia, structured into three sections to delve into the chronological development and context of each crisis. It serves as a reminder for the society that experienced these 100 days and as a reference for future generations, offering insights into how Malaysia can be better prepared for similar crises and address existing structural issues.
Jill Schlesinger: The Great Money Reset
Jill Schlesinger is an Emmy Award winning Business Analyst for CBS News. She appears on CBS radio and television stations nationwide covering the economy, markets, investing and anything else with a dollar sign. Jill is the host of the Jill on Money podcast and of the nationally syndicated radio show, Jill on Money, which won the 2018 and 2021 Gracie Award for Best National Talk Show.
Jill is a frequent speaker on a variety of topics, including macroeconomic, market and demographic trends; workplace issues for women and LGBT employees in financial services; and how to create authentic branding. She is the author of The Dumb Things Smart People Do With Their Money and her most recent book, The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life*.
In this conversation, Jill and I examine the decision-making process that many of us use when considering advanced degrees or certifications. We discuss some of the common missteps that people make in educational investments and identity three key steps that can help us do better. Plus, we encourage leaders to get clear on their goals and outcomes and alternative ways to fund major educational investments.
Key Points
Every situation is different. Examining your situation is more helpful than relying on an assumption that all educational investments are wise.
Identify the precise skills, knowledge, or credential you hope to gain by going back to school and how your career with benefit.
Remember that the cost of tuition does not always reflect the full cost such as lost salary or time out of the workforce.
Explore cheaper options if they still archive your overall objectives. A cheaper degree from a less prestigious university may meet 95% of the outcomes you want.
Consider how your employer may support your educational investments. Some companies will consider sponsoring some of your educational expenses if you make a formal request.
Resources Mentioned
The Great Money Reset: Change Your Work, Change Your Wealth, Change Your Life* by Jill Schlesinger
Interview Notes
Download my interview notes in PDF format (free membership required).
Related Episodes
Four Rules to Get Control of Your Money, with Jesse Mecham (episode 356)
Dumb Things Smart People Do With Money, with Jill Schlesinger (episode 396)
The Way Into Better Conversations About Wealth, with Kristin Keffeler (episode 606)
Seven Steps to Landing Professional Development Funding (MemberCast)
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