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Live: Smart Money 101
If you are in the Boston area I wanted to let you know I’ll be partnering with others to host another Personal Finance Workshop at Boston University on Thursday, September 25th, from 6-8 pm at the Howard Thurman Center.
There will be an expert panel discussing the barriers in the financial space and how to overcome them, followed by a student-focused budgeting workshop.
I’m really excited to share this with you all, and I hope to see you there!
You can register at this link.
Now back to our regularly scheduled Cense.
Live: The Kids Aren’t Alright
If you’ve been refreshing job boards lately you may feel more likely to score tickets to Ariana Grande than an entry-level position.
Youth unemployment just hit 10.5% — continuing its steady climb from April 2023. With recent college grads’ unemployment rate also rising relatively steadily (now at 4.8%) getting a job right now is like trying to get into a frat party as a group of guys. You might get in eventually, but not without naming three people already in the party and begging them to let you in.
So What Can You Do About It?
Call a WAMbulance all you want but you have to save yourself.
If you wanna be a stand out applicant, you’ll have to build skills ahead of entering the job market. But you shouldn’t work for free…
Learn: While You Earn
True story: not every income stream will be “the one.”
Some are just flings, some might turn into something serious (that research assistant gig), and some will be total red flags (multi-level marketing schemes are dangerous lovers ;).
But you don’t want to pick up the nearest position that’s gonna give you a couple bucks but not add to your resume. Best you seek out positions that build employable skills and earn you a buck.
Here are the top spots to seek out while you’re in school:
On-Campus Jobs: lab work, RA, fundraising caller. These jobs will probably work around your schedule and can help in building skills in your field, crisis management, sales, and more.
Freelance & Remote Gigs: Writing, coding, design — platforms like Fiverr let you shoot your shot with clients worldwide. This way you can get paid and build a portfolio to dazzle future employers.
Internships: These are short-term but can help you build some of the most valuable skills. Many schools even offer funding for unpaid internships. Part-time internships are offered during the school year as well.
Campus Entrepreneurship: Sell thrift finds, take grad photos, start tutoring. Even if it “fails,” you’ll have great stories for interviews (“What I learned from starting a business in my dorm room…”).
Clubs & Leadership: Running a student org is like speed-running middle management. While it will probably be unpaid, you’ll learn how to run budgets, events, herd other students, etc.
The bottom line is you should make sure your income stream does more for you than just cover some extra midnight tacos from time to time. Hone your skills while you earn.
Leverage: Campus Job Boards and Fiverr
In college you are building directly transferable skills to whatever your future job will be, but you don’t have to wait for that job to apply them.
If you’re an engineer, you can build stuff for people right now. If you’re a music major, record custom songs for people. If you’re PR, promote people’s furry conventions for them (but maybe don’t do too much more than that).
Gif by beeeky on Giphy, Maybe just note that you promoted some ‘events.’ You can keep things discrete if need be.
There are places to find jobs that can work on your schedule and help you build your resume:
Campus Job Boards
Pros:
Positions are steady and flexible to a university student’s schedule.
Boards typically have a lot of options so…
You can probably find something more specific to your field.
Cons:
Usually minimum wage, though there are some higher paid positions out there!
Competitive with other students.
Websites can be clunky.
Pros:
Set your own rates.
Build a strong portfolio.
You can specialize in whatever you want.
Cons:
Very competitive.
Profile setup takes a bit of time.
Also, quick reminder that I am not sponsored by any of the tools I note here. I wish I was! These are just the tools I use.
Launch!
Get an income stream that makes you dollars and employable!
Apply for a campus job.
Make a Fiverr profile.
Start a simple on-campus business.
The goal is to build skills to look attractive to employers. Then in the interview you can show them what a wonderful personality you have. Anyone subscribed to Cense has to be a swell person.
Hourly pay now can help you get that salary later. You just have to think a bit smarter on your job selection. ;)
Hey!
Thank you so much for being a part of this newsletter. I am grateful to write to you weekly and I hope this helps you feel more confident with your finances.
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I have a goal of helping people learn personal finance. It works better when more people get my emails.
Thank you for helping me (and your friend) out!
—Ben Brosnahan
