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How much should I spend on my education

When considering a school I advise everyone no matter what your chosen field of study to evaluate where to go to school using the following formula. Your education should not cost more than what you gross earning will be in the first year after you enter the field. I also advise factoring in how long it will take to be hired. For example: it takes 3 months to become employed after you graduate and your starting salary is $30,000 a year. Your education should not cost more than $22,500. $30,000 X 75% (12 months minus 3 months). If you spend more than this you are setting yourself up for financial hardships.
 



 

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