DISCLAIMER: Before anyone gets their proverbial shorts in an knot, Trade School Expert does not advocate "cheating" of any kind (stuff our lawyers made us say!).

Student Cheat Sheet #2, April 9, 2010, by Harris M. Rosen and Alan Wolfish QC

Here is a US Study which we thought would be of interest to students contemplating their future (whether you are re-skilling, entering into a second career, or just starting out). According to an article at http://www.cnn.com/2006/US/Careers/02/24/cb.no.degree.jobs which is based on data from the U.S. Department of Labor and the Census Bureau, as well as career planning expert Michael Farr and statistician Laurence Shatkin the 25 top-paying occupations are jobs in sales, education, law enforcement, construction, administration and transportation, as well as management and supervisory jobs:

More specifically, here are 20 of the top-paying jobs that don't require a degree:

1. Air traffic controller
   Annual income: $102,030
2. Storage and distribution manager
   Annual income: $66,600
3. Transportation manager
   Annual income: $66,600
4. Police and detectives supervisor
   Annual income: $64,430
5. Non-retail sales manager
   Annual income: $59,300
6. Forest fire fighting and prevention supervisor
   Annual income: $58,920
7. Municipal fire fighting and prevention supervisor
   Annual income: $58,902
8. Real estate broker
   Annual income: $58,720
9. Elevator installers and repairer
   Annual income: $58,710
10. Sales representative
    Annual income: $58,580
11. Dental hygienist
    Annual income: $58,350
12. Radiation therapist
    Annual income: $57,700
13. Nuclear medicine technologist
    Annual income: $56,450
14. Child support, missing persons and unemployment insurance fraud investigator
    Annual income: $53,900
15. Criminal investigators and special agent
    Annual income: $53,990
16. Immigration and Customs inspector
    Annual income: $53,990
17. 17. Police detective
    Annual Income: $53,990
18. Police identification and records officer
    Annual income: $53,990
19. Commercial pilot
    Annual income: $53,870
20. Talent director
    Annual income: $52,840

Student Cheat Sheet Number 1, May 21, 2009: Five Money Management Tips for indebted Private Career College Students. By Harris M. Rosen.

These tips have been extrapolated from various credible sources but are also based on my own personal experience as an eternal student: I completed 8 years of post-secondary studies plus my year as an articling student. Then the Bar Admission Course Examinations. Three of those years were spent away from home! I have the good fortune of being a practicing lawyer today with a reputable downtown Toronto law firm, but I was as broke as could be when I graduated. Getting solid, and non-exploitative financial advice as a student is critical because the shackles of a student loan are like having a reverse retirement savings plan (more like a retirement avoidance plan): most students take many years to repay their loans. Here's what hindsight taught me (not to mention a great personal financial advisor and some financial rags that I frequently read today… but ignored as a student):

Small expenses add up to large expenses over time: If each time you cut down on the small luxuries below, consider paying down a credit card or student loan, or allocating the money to your mortgage payment should you be fortunate enough to own a property. Weekly interim payments (or at least payments above and beyond a minimum monthly credit card payment) will look good to a creditor, especially if you are a student. Ask your financial advisor what you should do with your newly found stash of cash, resulting from the following change in habits:

1. Bring a healthy meal and some snacks to school: you'll save money and you'll be feeding a healthier lifestyle because you'll have control over what you are consuming;
2. Cups of designer coffee will cost you big time, but say that you really enjoy these small luxuries and just cannot give them up cold turkey, try cutting these expenses in half. You will still be shocked at how much money this saves you;
3. Work part time if it won't unduly interfere with your ability to complete your program successfully. Many of us have no choice in the matter: we have to work while enrolled in programs to finance our studies. However, and if you have the luxury of doing so, try to work in your chosen vocational field prior to graduating. There is nothing like experience, and you'll get paid for it too!
4. Track what you spend on anything, including the cost of money itself (interest). At the time of writing interest rates are low but the cost of carrying a credit card balance (for example) is still significant: try not to;
5. Ask for help when you need it. Whether the bank of mom and dad, or just a close friend, now is not the time to be shy.