Post-Study Financial Freedom – Why Is It So Important?

Whether you are thinking about applying for a study loan, in the process of your loan application or whether you have already committed to a study loan, the monthly repayments would most definitely play a role in your budgeting and planning. At Eduloan we ensure that your study loan is paid off by the time you complete your studies, but why is this so important?

Lowering Your Debt To Income Ratio (making sure your debt is as small as possible in relation to your income and does not have a large effect on your budget)

When you start working, it is important to plan your budget according to your income (how much you earn). When your study loan is paid off, you have one less debt to worry about when you allocate money to your living costs.

Having some extra money available at the end of the month

It is always a good idea to save for emergencies. If your study loan is paid off by the time you complete your studies, you can start saving money for those emergencies, a new car, a house and other expenses.

Planning for the future

It is very important to set yourself financial goals. A study loan is often the first financial commitment that many young people make. After your studies, you might want to buy a car, a house, take out annuities, set money aside for retirement and preparing for your own children’s futures could be some of the goals that you might have to set yourself.

By paying off your study loan by the time you complete your studies, you free yourself from that financial commitment. You can calculate your budget with our budget calculator and then view our quick-reference table to see what your installments will be. Visit www.eduloan.co.za today and contact us to find out how you can benefit from our study loan options.

5 Reasons Work Experience Can Give You A Head Start

Whether you are in school or still busy with your full-time studies, work experience is a term that might cross your path at some stage. Many schools, colleges and universities encourage students to commit to work experience… but what is all the fuss about? It might be cutting into your holidays or keeping you from going on a trip with friends, but the truth is that work experience can be exactly what you need to give yourself a head start. This week, we look at 5 reasons why you should sign up for work experience:

Reason #1 - Getting direction

Not too sure what industry you would like to work in? Work experience can give you the opportunity to sample different occupations and different industries. By committing to different kinds of work experience opportunities, you can sample the different working environments, assessing which one you enjoy most and which environments unlocks most of your potential!

Reason #2 – Get in touch with the real world

So you’ve already decided which industry you want to work in and perhaps even what job you would like to have… but are you ready for the daily demands? Every job has its challenges, and work experience allows you to get a feel for the environment you will be working in. Whether you have to stand all day, work in an open plan office or whether you have to do all or most of that dreaded administration, there are a host of hidden daily activities that might not be include in your college or university curriculum. Take time to do a couple of days’ work to experience and get a feel for the day-to-day activities to make sure you know exactly what you are in for!

Reason #3 –Identify your key strengths

By working at a company, in your chosen field, you will quickly learn where you core strengths are. Perhaps you are really good with people, or your creative eye can help you add a little more value to your temporary job-description. By identifying you key strengths, you can focus on these to ensure that you position yourself so that you can perform to the best of your abilities!

Reason #4 – Getting a foot in the door

More often than not, who you know is almost as important and what you know. If you can prove to a company that you have the potential, they might keep you in mind when they look to hire juniors at the company. Get to know and understand your industry – it is as important as studying for that degree or diploma!

Reason #5 –You’ve got the power!

When an employer takes a look at your CV, they often look beyond your education and qualifications. Extramural activities, community service and work experience are small things you can list on your CV that will have a great effect. Work experience proves that you took initiative, that you are willing to put in the hours and that you have a better understanding of the working-environment. Make sure that the work experience is related to the industry that you are applying to!

These are just a couple of reasons we think you should pick up the phone or send that email to make contact with a company in your chosen industry. Tell us about your work experience? Comment below and let us hear your story.Whether you are in school or still busy with your full-time studies, work experience is a term that might cross your path at some stage. Many schools, colleges and universities encourage students to commit to work experience… but what is all the fuss about? It might be cutting into your holidays or keeping you from going on a trip with friends, but the truth is that work experience can be exactly what you need to give yourself a head start. This week, we look at 5 reasons why you should sign up for work experience:

Reason #1 - Getting direction

Not too sure what industry you would like to work in? Work experience can give you the opportunity to sample different occupations and different industries. By committing to different kinds of work experience opportunities, you can sample the different working environments, assessing which one you enjoy most and which environments unlocks most of your potential!

Reason #2 – Get in touch with the real world

So you’ve already decided which industry you want to work in and perhaps even what job you would like to have… but are you ready for the daily demands? Every job has its challenges, and work experience allows you to get a feel for the environment you will be working in. Whether you have to stand all day, work in an open plan office or whether you have to do all or most of that dreaded administration, there are a host of hidden daily activities that might not be include in your college or university curriculum. Take time to do a couple of days’ work to experience and get a feel for the day-to-day activities to make sure you know exactly what you are in for!

Reason #3 –Identify your key strengths

By working at a company, in your chosen field, you will quickly learn where you core strengths are. Perhaps you are really good with people, or your creative eye can help you add a little more value to your temporary job-description. By identifying you key strengths, you can focus on these to ensure that you position yourself so that you can perform to the best of your abilities!

Reason #4 – Getting a foot in the door

More often than not, who you know is almost as important and what you know. If you can prove to a company that you have the potential, they might keep you in mind when they look to hire juniors at the company. Get to know and understand your industry – it is as important as studying for that degree or diploma!

Reason #5 –You’ve got the power!

When an employer takes a look at your CV, they often look beyond your education and qualifications. Extramural activities, community service and work experience are small things you can list on your CV that will have a great effect. Work experience proves that you took initiative, that you are willing to put in the hours and that you have a better understanding of the working-environment. Make sure that the work experience is related to the industry that you are applying to!

These are just a couple of reasons we think you should pick up the phone or send that email to make contact with a company in your chosen industry. Tell us about your work experience? Comment below and let us hear your story.