The importance of career development for young adults cannot be overstated. A recent National Association of Colleges and Employers (NACE) study found that over 60% of college seniors planned to pursue a career in their chosen field. That number is only going to grow in the coming years.
However, career development usually comes with a price, and a pretty high one at that. A study by the Philippine Institute for Development Studies (PIDS) found that the average young adult in the Philippines spends around PHP 10,000 on career development every year.
This can be a heavy burden for many young adults struggling to make ends meet. Fortunately, there are a few ways to manage your finances and pursue your chosen career. Here are a few options to consider.
Get a Part-Time Job
One of the best ways to manage your finances while pursuing your chosen career is to get a part-time job. This can help you cover the costs of your career development while also gaining valuable work experience.
Several part-time jobs are perfect for young adults pursuing a career. For example, if you’re interested in a career in marketing, you could work as a sales associate at a retail store. This would give you experience working with customers and handling sales transactions.
You can also look for part-time jobs related to your chosen field. For example, if you’re interested in a career in education, you could work as a tutor or teaching assistant. This would give you experience working with students and helping them to learn.
You can also use your part-time job to network with people in your chosen field. This can be a great way to make connections and learn about potential job opportunities.
Look for Scholarships and Grants
Another way to manage your finances while pursuing your chosen career is to look for scholarships and grants. Several organizations offer financial assistance to students pursuing a particular field of study.
For example, the National Association of Colleges and Employers offers a scholarship program for students interested in pursuing a career in human resources. The organization provides a $5,000 scholarship to one eligible student each year.
You can also check with your chosen field’s professional organization to see if they offer scholarships or grants. For example, the American Nurses Association provides several scholarships and grants to students pursuing a career in nursing.
You can also search for scholarships and grants online. Several websites offer databases of scholarships and grants. You can search these databases for opportunities matching your interests and qualifications.
Seek Out Low-Cost Training Opportunities
Many young adults pursue their chosen careers by taking courses or attending training programs. While these opportunities can be expensive, there are several ways to find low-cost options.
One way to find low-cost training opportunities is to look for online courses. Many colleges and universities offer online courses you can take at your own pace. These courses often cost less than traditional courses.
You can also look for free or low-cost training programs professional organizations offer. Many organizations offer programs to help people transition into their chosen fields.
For example, the American Management Association offers a free program called “Introduction to Management.” This program is designed to help people learn about the basics of management. The program includes several modules, each of which can be completed at your own pace.
You can also check with your local library for resources on low-cost training opportunities. Many libraries offer books and other materials on various topics, including career development.
Take an Online Degree
Sometimes, the best path to career development is going back to school. However, academic tuition can be expensive. One way to manage your finances while pursuing your chosen career is to take an online degree.
Many colleges and universities offer online degrees. These degrees often cost less than traditional degrees. In addition, you can usually complete an online degree at your own pace. This can be a great option if you’re working full-time or taking care of a family.
An online degree can also help you transition into your chosen field. Many employers value candidates with relevant education and training. An online degree can give you the education and training you need to pursue your chosen career. The Online Education website offers a list of accredited online colleges and universities. You can visit their website at oed.com.ph to learn more about online education options.
Pursuing a career can be expensive. However, there are several ways to manage your finances while pursuing your chosen field. You can stay on budget while building your career by looking for scholarships and grants, seeking low-cost training opportunities, and taking an online degree.