I recently found an article in the MBA section on the Business Week website. It discussed the importance of planning ahead and budgeting personal expenses during the MBA experience. It’s so much fun budgeting when you have income, I can only imagine the joys of budgeting when there is none.
There are so many expenses that I didn’t think of that are attributed to this pursuit of higher learning. Even before you get in to a program there are GMAT fees - the test and any prep courses you decide to take, travel expenses for recruitment fairs, school visits, and interviews. The list goes on.
While we tend to focus on the results we hope to get from obtaining an MBA (great job and salary), we sometimes forget about the expenses that will incur in the process. So while we’re busy working through the application process and planning for the GMAT, essays, etc…..don’t forget to do your personal financial forecasting and planning.
Check out the article… If you have any budgeting and financial planning tips, do share!
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