Let's talk about money - The Finance Thread

Then build a time machine, go back in time and don’t tank your math class.

Oh wait, you probably can’t build a time machine. Engineering takes hella math prerequisites.

As someone who teaches in a school of business, Accounting isn’t terrible. Where I teach, the math pre-req for the Business School is our math for business and that gets as hard as the first half of most Calc 1 classes. No integration, just basic derivation work. If you put your mind to it, even if you don’t love math, you can get through that. Accounting is really all about add, subtract, multiply, and divide. What’s hard about accounting is knowing all the rules as to when to know WHEN to do what and by how much.

However, if you really dislike math so much that you can’t do the pre-req to get into your business school then I would suggest liberal arts other than Econ such as Political Science / Psychology / Sociology. Communications can be interesting if you have a decent department that actually teaches what Comm is about. There’s tons of options if you’re looking to take your one math class and get out, but statistically speaking (Oh what? Math to justify math? YOU BET!), earning power has a correlation to level of education this is true. But the REAL correlation between earning power and education lies in the amount of math classes taken. Engineers? Money. Economists? Money. Financeers? Money. Chemists? Money. Actuaries? Money. The reason why master’s degrees tend to have higher payouts over undergraduate degrees isn’t simply the education, its the higher level math that goes into graduate programs. Even COMM grad students have to take quantitative methods and have to learn some statistics to be successful… even if their statistical values really don’t say anything useful because of their ridiculous confidence level standards :wink:

Oh and BTW, you think Engineering is hard? Try prepping yourself for Ph.D. work in Econ! Them’s mathematicians in disguise!

i want to do psychiatric nursing, cause here in canada nurses are short in supply and psych nurses are even shorter. you’re guaranteed work for life, and it pays about 38 bucks an hour for just the two year course, you dont even need the BA 121 credit thing just a 90 something credit 6 semister diploma.

someone in my family has been doing this profession for several years and she just had a baby, they are giving her full pay full year maternity leave. but since her husband is some kindof hospital personal too, she can switch her time off to make it his time off, but then she has to goto work.

i actually think the maternity leave part is just too insulting to every hardworking person worldwide, but thats the Canadian government and what its unions do for its workers.

screw trades, screw 150 thousand dollar hard to get into fields. just be a “hey hows it going, you feel sad? want a shot? want a blanket? want some juice and crackers?” kind of person.

lol trust me when her kid is actually 1 and they both go back to work, her baby raising was probably harder.

social work is stupidly easy and pathetic. my mom was a social worker and she literally just spent time with children with broken home families part time for 23 an hour or something.

yeah the broken home of the people she took care for is like literally “broke” and everything, i guess the typical case is a single mom on a 1400 a month type walmart salary, and my mom gets to work part time to hang out with her kid and makes like 1700 and gets all the benefits of a government worker.

instead of paying my mom to make a living off their suffering, they could just do away with my moms job and pay the family say 400 dollars extra to improve their family deficiencies and save taxpayer money. yeah my mom would be out of a job, but at least it would more logical.

i used to think about it all the time cause my mom would bring these kids over and i would see that oh they dont have a father or they’re hungry or the mom is a deadbeat. but if the mom gave up her job completely, my mom would just tell child protection to cease the child and put it under someone elses care. which costs a lot more money again then to simply help the natural mother out. i understood the logic of you cant just give money to families cause the parents are stressed or having problems, but its not exactly logical either to spend lots of money on a support network, to give people jobs who went to school and apparently deserve to be under the protective nurtured blessing of the state. but not directly help people with their problems, just to be fair.

thats why im like…you know what, i wanna give people their blanket and make my 60 K a year cause i dont have to worry about what makes sense and what doesnt, i can just enjoy my money and be a hedonist.

Thanks for more info REALPLAYER, yeah, I’m gonna take up their payment plans as soon as I get this car paid off, as being in debt like this is ridiculous. :sad:

btw small tidbit about engineering, it’s not TOO math intensive once you get further into it I hear, but it probably also depends on the branch of engineering too.(For instance, I have to take up to calc III for computer engineering, as well as discrete mathematics and differential equations :X)

so i met with my counselor and i’ve decided to change my major to “COMPUTER REPAIR” instead of “ACCOUNTING”.

i dont know if im making the biggest mistake of my life or the smartest, but all i know is i wont have to deal with much math anymore, since its only 2 yrs program, while accounting is 4-7 yrs program.

i have finished 1yr and a half of school at CC for accounting. i dont know if it will be a mistake to change major n waste a grand of nothing… its been 2-3 years n i still dont know what i want to be when im done with school. im planning on finding a job somewhere or intern once i get out of a 2 yr program of computer repair… not sure how that will go…or should i stick with accounting, and waste 2-3 yrs of doing meaningless math shiets just so i could transfer to a university…:frowning:

could someone lead me to the right direction with my life plz.

There are two significant options in this situation.

You can switch majors and do something you are genuinely interested in and find meaningful: art, journalism, science, etc.

OR

You can continue with accounting and think of it as simply a means to an end, a way to make money, which will give you the financial support to do what you actually enjoy: climb mountains, write a book, invest money, argue online, etc.

I’m going with the second option. I see “jobs” as a means to an end.
I’d rather be doing a million other things than work, but it’s a necessary evil.
Of course the plan is to make enough money quickly so you don’t have to work too long.

The math shit shouldn’t be too hard man, just put some time into it, practice, get a tutor, whatever…

first… THX for the help man.:smile:

is computer repair that bad…? i mean its decent right?

you’re right about the 2nd option. but i feel that im gettting fucking old compare to my friends. even if i try not to compare myself to them or my classmates, i feel that im getting old n NEED to fucking get on the right path quick before i end up being a fucking bum.

im proud of myself for knowing to say all these stuff… BUT i cant seem to think about these things when im stressing our or depress you know.:xeye:

maybe i am that lazy. i’ve been telling myself to do work but i keep procastinating. i need to have a plan so i wont break these promises i make to myself, but i dont know where to start. :shake:

im just happy to be in school and not out there with the economy like this. i really dont want family members or girlfriend to hold my fucking hand and tell me to open my books n shiet. i need to grow up. guess ima go n change back to accounting n stick with it. unless somebody else can give me a good reason not to.

i’d love to hear the pros n cons as to why i should or shouldnt take accounting. :slight_smile:

P.S THX FOR ALL OF YOU GUYS HELP!! APPRECIATED :slight_smile:

Personally I think you should ABSOLUTLY do accounting. You want to talk about job stability, there are tons of career options for someone with an accounting degree. You don’t have to go get your CPA. You’re degree in accounting will open you up to accounting and finance departments in companies where you can work your way up. As someone who worked after undergraduate and did Master’s work at the same time (you can’t work and do Ph.D. work that’s a whole different ball game…) and had no life for 18 months, even with my 3 undergraduate degrees in Economics, Political Science, and international studies, I was below people who graduated at the same time with degrees in finance and accounting. I learned critical thinking skills, they learned how to do what the company needed them to do. I may have higher upside, but I had to start lower too. Now I teach Economics and advise the actuary department of a very large health insurance company. Accounting will get you where you want to go and you’ll find that alot of the jobs in the corporate world that require accounting degrees can be rewarding and involve very little math. They require great Excel skills.

Seriously, this is for everybody who is not in the job market yet, you want something to stick you out? BE A MASTER OF MICROSOFT EXCEL! You think I’m joking? I’m not. Excel is so commonly used now that if you can make Excel dance you can immediately impress a future boss. Know how to do the VLookup appropriately? Pivot Tables? Can you do simple macros? Can you make a spreadsheet that doesn’t look like garbage? Very important skill.

Back on point. Yeah accounting may not be the most fun. That’s what MINORs are for. Anytime a student asks me what they should be doing, whether they are finance majors, BA majors, accoutning, econ whatever. I tell them the same thing. Study something that will get you where you want to go. If you have time to double major great. If computer repair is a two year program, through every extra credit hour you have into those courses and you’ll probably be able to do both. Which will make you a nice asset at a smaller company with limited IT resources. Excel and PC repair? Good combination.

So if I were your academic advisor, and as someone who is a professor at a university, here is my advice to you.

You’re young. Very few college students go to school and REALLY know what they’re going to do. They have an idea and its gone by the end of the first semester. Hell, I was going into Music Ed when I first started. I love music, but I didn’t have that level of talent or patience with high schoolers. After a week I knew my love was politics and economics but I was lucky. IF you don’t know what to do, take all your core curriculum courses. At a decent university they’ll give you a wide range of courses to whet your appetite and find what you want to do. If you’re committed to something resembling your current plan, go get your accounting degree. Take every spare credit hour and instead of taking Japanese or underwater basket weaving, go take Computer Repair. If you work hard and take a semester with an extra class or two, you can do both and be exactly where you want to be. A graduate in an economy that should improve by the time you’re ready to enter the job market with a secondary skill that companies will find useful. That’s not a bad place to be. The other thing I suggest is that if you decide to go get your accounting degree, for crying out loud, try to get an internship at a good public accounting firm. If you can’t get somewhere big, try to go to a local CPA office. That’s great real world experience that will build your resume, get you connections, and further improve your marketability upon graduation.

you do know im still attending CC right? but other then that. ^ all of this give me MAD GOOD REASONS as to why i should stick with it!!! :pleased:

THX ALOT MAN!! :).

my bro knows ive been trouble deciding what i want to do, so he called up a buddy and his buddy said that i should take computer networking technology cuz i like computers alot… thats true but i dont know if thats at high in demand as accounting in the job market you know? do any of you guys know? :slight_smile:

okay u guys def got your money knowledge down ,what would be your suggestions on obtaining a small biz loan in this trying time an market ? i have 800 credit and have good collateral but banks wont even half way meet me halfway. i also want to purchase more property ,i have an income that can pay another loan payment an keep my debt to income low enough to qualify but the still want a huge down i mean in the 25 percent range! any advise would be helpful thanks !

Have you looked into community lending? If your credit’s that good, you should have no problem getting funded, depending on how much you’re looking for. Check Prosper.com or LendingClub.com.

Don’t know about that specific question, just thought I could shoot in whatever experience i got resembling your situation.

I subconsciously led my gf to the study of civil engineering, simply because I love studying it myself. I thought I did the right thing getting her a good education (all education is federally subsidized here, so it’s well worth going for it).

Turned out she had the worst year of her life. She is now a nurse and I’ve never seen a better one. Higher education is hell if you lack either the aptitude or the ambition to finish it.

My advice is: If you feel in your core that math is really not your cup of tea, take some steps to prevent a math-intense education. Accounting is not so heavy math-wise, but it requires a structured and dedicated mind. Whatever you decide to go for, don’t fuck around. Do your very best and I promise you will be thankful in doing so for the rest of your life.

thats the thing also my trade is construction (govt work ,prevailing, comm, an such)its high dollar builds ,to get off the ground i need a t leas 16 months wages for a prevailing employee(in california its 50 dollars an hour )x 15, and thats just payroll. i need at least 500k to be floating. i ve been approved for 100k an such but that dose not scratch the surface. thank you for the web sites though i’ll def check all resources .

yeah, that’s a lot more money than I was thinking…good luck, though.

thanks though i always listen…any info is better than no info buddy…

Mutual Funds.

I don’t even know where to start with them, but I have some money saved up I would like to invest. Any specific ones that are decent?

I have a LOT of time, so I don’t mind being semi-aggressive and taking a few risks.

Well, the first question to ask is how much money are we really talking about? Are we talking about 10K? 50K? 100K? There are going to be barriers to entry totally dependent on how much money you’re throwing into your investment pot and who you’re investing it with. The latter is also dependent on you finding someone you are comfortable with and you feel will protect your investment to the best of his or her ability.

Personally in this economy, I would be focusing my money in areas of the economy likely to be backed by government funds that are not the automotive industry, biotech, high tech and blue chips. Finding the right mutual fund is all about expected return versus risk. Personally there’s a couple Vanguard Funds I’m partial to. Particularly their targeted retirement funds are usually pretty secure over time and if you’re feeling it their large cap fund has done fairly well over the last couple years even with some of the tumult in the stock market recently.

What a can of worms. If you get one of Vanguard’s S&P 500 unmanaged index funds then you’ll outperform 75% of the mutual funds out there, so that says a lot about how hard it is for fund managers to do well. It’s not because they can’t pick good stocks, it’s just that they are slaves to their customers emotions and moving money in and out of the funds.

Since there are thousands of funds, the best thing I can say is look for one that’s outperformed the S&P consistently for no less than 10 years, has low fees and has not recently switched fund managers. Consistency is better than performance when choosing a fund. Ignore anything that’s being advertised as having a great year, because it will likely suck next year.

Outside of that, consider consulting with a financial advisor. There’s just too many funds out there for a guy like me to understand them well. Just be aware that professionals are well trained because they’re paid to sell these things. Do a bit of research if you can before buying in.

EDIT:And I also really like Mountain Dew. Just thought that was worth adding.

Thanks guys, im looking at about 2k right now and slowly adding more.

Im only 18 right now so I got nothing but time.

I will start researching them more.

In the meantime, just start with that index fund. At least you’ll know you won’t do any worse than the overall market that way.