7 Ways You can Save Money of an MBA Program

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Are you a business student in pursuit of his MBA Degree? If yes, then you must have faced some financial issues. We are going to shed light on it and suggest a few ways you can save money off your MBA Program.

Following, we are going to suggest a few tips that will help you save money in the long run.

One Year Program

Professionals returning to school often need to complete their degrees as quickly as possible. Most MBA Programs last about two years in America, but some European countries reward them in a shorter time frame. However, some institutes offer an MBA Degree in only 15 months. These plans save you a lot of money in fee and living expenses. Like traditional programs, one year programs vary and cover a variety of different subjects.  These accelerated programs can help you pursue your degree in less time than a regular program. 

Part-Time Job

No one has ever gotten rich by saving money. Instead, most have found different ways to make more money. If you are a business student and you are looking for an affordable way to get an MBA, start a side job.

Part-time jobs usually help with expenses and offer flexible schedules.  If you find the right par-time job, you may be able to not only pay for your education, you create the possibility of earning some disposable income.  There are several part-time jobs that have the possibility to earn near full-time income.

Here are a few jobs which earn more than your average part-time job:

  • Yoga Instructor
  • Uber/Lift Driver
  • Private Tutor
  • Dog Walker
  • Music Instructor
  • Nail Technician
  • Bartender

If you plan early, this could save you a fortune and keep you from incurring high interest. How? It’s because you are kept from overspending. It will help you discipline yourself.

Don’t Waste Your Time Hanging Out

Hanging out is a good thing, but there are some complications you need to mind. You don’t need to visit your friends every day. We understand this is a bit cold, but it’s true. Your friend’s circle change in your lifetime so doesn’t panic when you start losing your friends.

When you are pursuing your MBA degree, keep your focus on your studies. Don’t indulge yourself in anything else. You don’t need any distraction. Focus on your studies; it is the only important thing at the moment. Do something constructive in your free time; it will help you develop your career.

Take Advantage of Student Discounts

Do you know that students remain subject to discount offers? Yes, every brand out there wants to show people they care about the student. Stop wasting food, and get to stamps if possible. There are also some drink specials. So, it won’t bite to ask on what sort of specials are happening.

You could bring your flask to bars. If possible, join or buy from Food Co-op. This way, you will get double organic ingredients with a price discount. It will help you save big.

There are several companies that offer student discounts as well.  You would be surprised of how many well-known corporations offer discounts up to 50% just for being a student.  You’ll want to check each store to make sure that they participate in the discount offer.

Here are a few companies that currently offer student discounts:

  • Apple Store
  • Amazon
  • Sprint
  • Adobe
  • AT&T
  • Subway
  • Sony
  • Burger King
  • Chipotle
  • Firehouse Subs
  • T-Mobile
  • AMC Theaters
  • Many Sporting Events

 

Don’t Forget Your Deposit

This is perhaps the worst thing you could do! Even if you are awarded scholarship money, you can put up the cash to hold your college seat. You will need to pay thousands of dollars within the first few weeks of the admission as your deposit.

A word of advice, you will have to wait for months before you can use this money. For instance, you can deposit this money in May, but you won’t see them again until August. Sure, you could go and ask the administration how much deposit should you pay?

This will give you a better idea about your budgeting. Just make sure you know how to pay for your degree from day one. For instance, if you are purchasing a home, you better consider the whole cost of the house instead of only your mortgage.

 

Ask Smart Questions

You need to do your research about which scholarship is available when you apply. If you are thinking about GMAT scores, know that their certification is not making them money, their hard work does.

If you are getting downhearted, then think about their median pay.  If you took a loan and you are unable to keep up with its payments, its time you refinance your loan. This is more of a consolidation loan that gives you more time to pay back your debt.

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