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Old 10-13-2012, 02:53 PM
 
1,265 posts, read 2,246,081 times
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I am 18 years old. I commute and go to a decent texas public university, very close by my home. This is my first semester in college, planning in majoring in Accounting and Master of Accountancy. I like Accounting, it seems both practical and a interesting major. I am simple, i dont like to play videogames and rarely watch cable tv. I dont like eating fastfood, and prefer to drink bottle waters and eat at home.I live with my parents. I like to mess around with girls, and dont like the idea of dedicating both time and money to one girl. I go run and workout at a nearby park instead of going to the gym. I put on simple jeans and t-shirts, seeing expensive cloths as unneccesary...why would i buy expensive clothes if i have always been muscular and handsome which its enough to impress the ladies? I will not contemplate marriage until i am 30 years old and doing financially decent.

Besides living a simple live and choosing the right spouse. During the couse of my lifetime, how could i move up to the middle class. I find middle class lifestyle attractive, but many things unnecessary (big plasma tv, stainless refri,iphone,new car.). I am more interesting in doing financially well as the middle class. I am interested in a good paying job in the Accounting,Financial, or Banking Sector.

Many of you have exponentially more knowledge about life and personal finance. My favorite forum to read is this one. You have knowledge of things that i dont even have a clue off. That is why i am interested to hear your opinions and or advise.

Total irrelevant question.

Should i start looking for a job as a bank teller or bookkeeper to get my food in the door or should i focus all my attention to school and then get internships during my junior and senior year? I dont have any expenses or any debt, but should i get some revenue coming in.
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Old 10-13-2012, 03:21 PM
 
Location: The Triad (NC)
25,514 posts, read 55,178,360 times
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Quote:
Originally Posted by Almeida93 View Post
I am 18 years old. I commute and go to a decent texas public university, very close by my home...During the couse of my lifetime, how could i move up to the middle class.
live below your means then save and invest with the rest.
your working income (from whatever source and at whatever level) has little to do with wealth.


Quote:
Total irrelevant question.
Should i start looking for a job as a bank teller or bookkeeper to get my food in the door or should i...
get a real job that pays you real money doing *anything* related to the work.
use THAT experience to get a real job that pays you real money working for an accounting firm

eschew the "internship" fairy tale.
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Old 10-13-2012, 03:31 PM
 
Location: Sunny Florida
7,136 posts, read 10,431,992 times
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I am impressed by your thoughtful post and desire to better yourself. Read a book entitied The Millionaire Next Door and you will have a very good idea of what you need to do with your money. Plus it sounds like you are already implementing some of its ideas. A college degree or two is usually very helpful when trying to move into the middle class. Yes, get a part time job if you can work and keep your grades up. If you can't work and keep your grades up, then work during the summer and/or your school breaks. Any work experience is good. Do not get anyone pregnant. This will derail your future faster than you can imagine. Best wishes.
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Old 10-13-2012, 05:57 PM
 
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I would get a job now, but keep your hours to under 20 hours per week while in school. More than that and your schoolwork is going to suffer, or you won't be able to take full advantage of school-related activities that will serve you well in the future. And if you don't have a job currently, don't worry that getting one will hurt school -- there have been studies showing that students who work a small number of hours (think it was in the 10-15 range or so) actually did better in school than students who either had no job or who worked more hours. It gives you some structure, not to mention money and experience!

I do think internships can be valuable, and they can -- if you get a good one -- help you to make connections that you won't otherwise have. Not all internships are created equal, so you'll want to land a good one. If you can find yourself a decent part-time job now, as well as do well in your classes, hopefully you can get yourself a really good internship later on during college, and a good job once you graduate from school.
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Old 10-13-2012, 07:41 PM
 
Location: Chapel Hill, NC
8,176 posts, read 11,675,192 times
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--My nephew got an internship in Manhattan the summer before his senior year in college. After he graduated, he was offered a job there. I wouldn't write them off.

--Take some English /writing classes. Your grammar and spelling can use improvement. Sometimes the way you present yourself is more important than what you present.

--Don't look down on others as you climb the ladder. All people are worthwhile whether they are the janitors or the surgeons.

--Always live on less than you earn. Rainy days come frequently around these parts, even in Texas. ;-)

Best of luck to you.
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Old 10-14-2012, 12:42 AM
 
12,541 posts, read 23,789,196 times
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Not sure if thinking of moving from working class to middle class is a helpful way to frame the idea. Maybe it would be more useful to think of what changes you want to see. More money? Earning more money in a different environment (that is, say, if you were a plumber's assistant and wanted to work in a corporate environment?) There are so many definitions of what constitutes classes and I think it's clearer to say to yourself what it is you want to see or have or have happen, rather than labeling it working or middle or any class.

To impress others, yes, speech and manner of carrying yourself is a giveaway. Good teeth help,too- bad teeth are a lower-income giveaway (unless you're British).
There's a book called "Class" by Paul Fussell- short, painfully hilarious,and to the point about class signals in America. There's also "Dress for Success," and "Live for Success"by John Malloy- all about giving off middle-class signals. If you want to migrate across the classes, you might not like the info in the Malloy books, but they are accurate. (I read these from a guy who lusted for the upper middle class, and came from an immigrant coal mining family. Of course, he became an insufferable snob, but that's not required).
Best wishes.
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Old 10-14-2012, 08:24 AM
 
4,762 posts, read 9,739,323 times
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Get a Wharton MBA...
The Wharton MBA Program | The Wharton School of the University of Pennsylvania
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Old 10-14-2012, 10:33 AM
 
Location: Forests of Maine
29,150 posts, read 46,261,244 times
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An MBA does not always work well. I know people with MBAs.

I recommend 'The Millionaire Next door'.
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Old 10-14-2012, 10:58 AM
 
28,027 posts, read 65,984,629 times
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Some of the data and even "paths to wealth" of 'The Millionaire Next Door' are a little out-of-date but the basic premise of living under your means and building WEALTH by spending only on a higher value items and avoiding showy "luxury living" for long term true wealth.

The things facing the OP are a little different -- he is still getting used to college and not really sure about the value of working now or just studying. I think that there are some people that can handle both BUT many folks DO NOT and end up spending too much time earning cash for now and too little time mastering college which really is the smarter long term move. This does not mean nobody should work in college, just that if they have to choose then choose IN FAVOR of what makes more long term sense. I gotta tell you that kids that JUST TAKE MINIMUMS to get a degree are NOT IMPRESSIVE in interviews -- take the harder classes, take classes that give you more realistic assignments where you have to use 'case studies' and "presentation skills" to not just turn in one test and final paper but PROJECTS that demonstrate your ability to contribute to successful organizations and not just be a warm body taking up space. That same sort of thinking should be your motivation to do an internship -- try to line up something that will give you not just time reviewing others work and trivial tasks but a PROJECT with a beginning / middle / end, interact with people from different levels of the organization , get exposure to the various departments with an organization (financial, sales, IT, production, etc...).

Honestly if you do want / need to work while in school the kinds of things to AVOID are crummy retail jobs that will give you hours that no else wants and make you miss out on important things associated with learning. Instead get the kind of "behind the scene" job that has set hours and allows you the opportunity to interact with managers and others that can help you move up instead of being stuck in a dead-end OR take some truly menial job that pays well for hard dirty work that will reinforce the value of eventually finding a job where you earn more for smarts than for you strong back...
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Old 10-14-2012, 11:05 AM
 
Location: Forests of Maine
29,150 posts, read 46,261,244 times
Reputation: 16560
'TMN' also gives you an idea of which career fields more commonly accumulate wealth, as compared to which career fields tend to appear wealthy with no true accumulation.

MBA being a great example.

Last edited by Submariner; 10-14-2012 at 12:06 PM..
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