Tips to help me out?

In My Humble Opinion
1

Before I request for any help (even though I am doing OK now- in my opinion), I have to explain my life story since I got my high school diploma. When I got my HSD in June of '13, I was going to become an accountant, so I chose accounting classes at College Of DuPage in the fall. Unfortunately, I was already burned out starting with my final year in high school (Lyons Township), so I ended up failing those classes due to a lack of motivation. That and this mind had been in the clouds since junior year, with not much focus in my future- until the beginning of 2015.

After two years of mishaps, breaks, and futile attempts to get on track on graduating high school 2.0…I mean, college, I ended up quitting college and looked at my other options. To be fair with that college, I did not like it too much- I wanted to work for money, instead of having to do unnecessary things to get a job (and I might still not get a job). The good news is that I paid for these classes with grants, so I leave college with no debt to pay (and after hearing horror stories of millennials in my generation (I am a divergent of this generation), I am probably in good shape myself).

Unfortunately, my doom and gloom was still hovering over me, and I wasn’t looking good for the start of 2015 until a random online user in an IRC channel on a website I was using suggested a government program called Job Corps. It’s program designed for young folks ages 16-24 (I was 20 at the time) that currently live in poverty- (mind you, me and my family aren’t in a bad situation, mind you, but they currently rely on social security disability income (they’re deaf), just enough to pay rent, food, and other things, but not college.)

So things went uphill from there- I joined the program, entered the center at Joliet, went into a soft trade (working with keyboarding, Microsoft Word, Excel, PowerPoint, and various business skills), and kept my cool. After getting my certifications there, I looked at what is next- and they offered further training at a center in New Jersey that involved fixing computers and Microsoft Operating systems- something I know too well. About because 5 years ago (at that time), I was in high school trying to get the CompTIA A+ certification, but I couldn’t get it then because I kept failing the latter half of the test.

After applying for the application, doing an interview and getting accepted (woo-hoo), I flew out of Illinois, joined the center in New Jersey, and after a bit of community service, re-learning (and re-taking tests), I’m in better shape. Right now I’m studying for a final test so I can get the A+ certification at last, and afterwards, I’ll ask if I can get trained for Network+ (and optionally, Security+), and I should have something loaded for my resume, minus job experience…course I’m working on that now. This week I had an interview with McDonald’s to work there part-time (after school, to get some side cash), and I got hired there (they need smiling cashiers in the evening), so if all goes well, I should have a mark for job experience and that should get me hired in a nice business in Chicago once I’m all done. The addition of visiting New York City occasionally is a nice, but irrelevant bonus. My father likes the New York Post newspapers, though (must be all the funny front-page headlines that makes him giggle).

Sorry about the 600 word essay, by the way. Now I just need some tips:

[ul]
[li]Now that I’m employed, when should I get a credit card? One of the things I’ve got planned out is to build my credit, and I’m familiar with the basic concept of credit (get an item, buy it later), so when should I get it? I’m thinking I should get it once I get my first paycheck, is that a good idea?[/li][li]Once I’m done with the program, I plan on returning to Chicago, either working in a good paying job or something like that. Assuming that I won’t go to the military (Navy preferred if I have to), would it be better to work for more IT certifications (Cisco, Microsoft, etc), or head back to college?[/li][li]I plan on buying first and never renting an apartment (it’s cheaper to buy), is this a good strategy? [/li][/ul]

If there are any other tips, please feel free to let me know of any suggestions.

2

[ul]
[li]Now that I’m employed, when should I get a credit card?[/li]Get one now as long as you can find one with no annual fee. Never carry a balance unless it’s an extreme emergency. Pay it off in full every month.
[li]** would it be better to work for more IT certifications (Cisco, Microsoft, etc), or head back to college?**[/li]This is a big question and is a personal decision. I wouldn’t recommend college for you right away. Get more experience under your belt. Going to college is more about becoming a computer programmer rather than an IT administrator. If you like the hands on stuff, you can do great without college. With college you may be able to move up quicker and get jobs easier, but college is a huge time and money commitment. It may or may not be worth it in the long run for you.
Rather than college, take some computer classes at your community college. That will be a cheaper option with less time commitment and you can see if you really enjoy it.
[li]**I plan on buying first and never renting an apartment (it’s cheaper to buy), is this a good strategy? **[/li]At this point in your life it’s probably better to rent. You can move around easier and not worry about all the home repair expenses. It may cost more to rent, but you don’t have to worry about what to do when something breaks down. There are lots of expenses involved with just the buying and selling aspects of a house and it’s best to do only if you plan to be there a long time.
[/ul]

3

I agree with filmore’s first point entirely. I would add make darn sure it is “no annual fee for the life of the card” - not "NO ANNUAL FEE for the first six months.

I also agree with his second point - work experience in your chosen field is better than more certifications at this point.

The third depends on where you live.

It sounds like you are doing well - keep it up!

Regards,
Shodan

4

Thanks for the tips. I guess I’d better start searching for a credit card with no annual fees.

5

Have you visited the Personal Finance reddit (just do a search on Personal Finance reddit and it should pop right up)?

I mention it because they answer dozens of questions daily from people in your position, who are just starting out in their career and financial life.

Two points that I know they would make:

  1. The purpose of a credit card is not to buy things now and pay for them later. It’s to establish credit so that you can obtain financing for major purchases such as a home or car. It can also be use for convenience and to obtain rewards. Do not buy anything with your credit card unless you already have the money in hand to pay for it. This is the key to never carrying a balance and never paying interest.

  2. Whether you rent or buy, do not spend more than 35% of your income on housing, including rent, mortgage, and any additional charges or fees. This will help you to determine whether you can afford to buy, and at what level.

6

Probably better suited for IMHO.

7

Having work experience is great and necessary, but you may be underestimating how hard it will be to get a good paying job. Likely it will take a long time to find a job, and that job will probably pay crap at first. The good paying jobs come after you’ve been working for years and years. You’ll get raises in your current job and then your experience will allow you to move to other jobs where the starting salary is high.

Does your Job Corps have a career counseling office? If so, work with them to find something in the field you want to work in. Even if it’s a minimum wage job untangling cables in a data center, do that over McD’s. If you’re working in a data center, there are many opportunities to move up into more interesting jobs. Work hard and do excellent work and it will be noticed. Don’t act like you’re entitled or that the work is beneath you. Eventually they’ll move you up and some other newbie will do the cable detangling.

The military might be a great opportunity for you. The Air Force has a lot of computer-related jobs. You can get a few years of experience which will help you after you leave and you have access to college funds.

8

Seconded! If you want to save money right now, consider a roommate situation. Much more flexibility, and you can save up the difference to have a bigger down payment for when you actually DO want to purchase a place.

9

Agreed that renting is a smart choice while your career is still being established. The ability to easily relocate is actually a huge advantage whe it comes to finding opportunity.

I would make a plan to get a degree at some point. If this good job does materialize, there are many employers who will pay some amount toward tuition. The military could be a good option as well.

10

Also, don’t feel like you need to make all of your decisions at once. When you get a steady job, work a few months to get a feel for what your cash flow is like. Then you can start making longer term plans.

11

If you can get into a credit union, they usually have no fee credit cards and even interest paying checking accounts.

I’m a strong believer in “pay yourself first.” I feel uncomfortable if I have less than a years worth of living expenses in the bank.

Good Luck.

12

I’m nearly at the end of the road here at New Jersey, so I should post where I am right now. Today I am studying for Security+, and after that I’m done here. The next time I visit NJ will be at a motel near New York City (assuming I don’t find a room at NYC) or at Atlantic City (assuming the casinos are still around). And maybe if I’m vacationing at Philadelphia. Right now I have a dilemma. I finished talking to a counselor regarding my situation at the end of 2016- I will be vacationing for New Year’s Eve in Florida and then return home by either early January or Mid-January 2017. I was told I could start working at a job where I live as long as I tell my employer what’s going to happen once I head out for vacation, but my family recommended me to wait until after my vacation to start looking for a job.

Part of me wants to wait because of many variables as we reach the end of 2016. It’s an election year (I doubt it could make much difference), my vacation, as I said, is at the end of the year, and any unforeseen variables I didn’t see yet. Part of me wants to work now (and for the record, I lost my previous job at McDonalds in May for a undisclosed reason) so I can continue to climb the ladder, despite being ahead of most people financially (if measured with debt, of course). Then again, I’m getting job offers with some people near the area I live (and downtown) despite having gotten Network+ 2 months ago, so it might not be so hard for me to find a job soon. Maybe. I need a second or third opinion.

What do you guys think?

13

If you are lucky enough to get a job right away, you can always tell them that you have vacation plans already established. I’ve seen people be up-front about that at hiring and it’s not a problem. If you do get a good job and they aren’t open to it, consider not going on vacation.

14

I’m not sure your family’s advice is all that good. Why would you want to lose momentum from graduation and dink around for 4 months? If you’re getting job offers now you need to strike while the iron is hot and follow up on those. Part of being an adult is making hard choices and deciding to shorten or forego a vacation because you’re establishing yourself at a new job is one of those. And as mentioned, you might be able to take it anyway if you mention it up front. When I started my first job I had a cruise bought and paid for about 4 months later and I was able to use some of the time off I’d earned and took the rest unpaid.

15

My field of view on this may be a little bit narrow or distorted, but in my experience, IT certs tend to be more aimed at the technician side of things, while getting an IT or computer science/engineering degree aims you more at the design/management and business interaction side of things.

16

Man, if your main concern with getting a job is taking a vacation, good luck. How about get a job, work a year, then take that vacation? Florida will likely still be there.

When you’re starting out, concern yourself with the job. Vacation will come with time.

17

Cheaper to buy? In Chicago? No. My property taxes are up to almost a grand a month. That’s on top of mortgage and insurance and all the other upkeep.

18

I used to say buy, but I’m now considering to rent instead, at least until I have enough money to buy. It might not even be in the city, it could be at Evanston, Oak Park, Skokie, or Rosemont (whichever is closest to a rapid transit line). I could also go further away, into Waukegan or various towns connected to a Metra line, depending on the situation. If my employer has transit benefits, I might use it to pay my fare and the parking fees, since the monthly limit means I won’t have to pay a thing (or pay much). Since I just converted my NJ probationary drivers license into a basic Illinois drivers license, I should have a car soon. I know someone to help pay for a used car, so I should have it soon.

I’m probably going to heed the advice and once I get my last certificate, I’ll start weighing the offers and start working as soon as I leave. Even if it means not going to Florida, I wouldn’t care. I’ll have enough money to get my own vacation in time.

19

Depends on the certification though.

Security+ is actually useful if you’re going to be an IT security specialist - my husband has both that and his CISSP certification and they were instrumental in landing him in his current job as a consultant.

I wouldn’t hold off on finding a job while you’re working on these certifications - most people earn them while they’re already working. In fact for some, you have to have actual work experience before it can be granted (CISSP).

DO NOT LISTEN TO YOUR FAMILY when they tell you not to look for a job right away. 1) It might take a few months to find the right job, 2) someone interviewing you in January may wonder what you’ve been doing wasting 4 months, and 3) yes, most employers will work with you on the fact that you already have these commitments. It might not be paid time off, but they understand that people do have lives. That said, if you DO land a job in the interim, try to minimize that vacation time.

Oak Park might be a bit spendy for someone just starting out, unless you can find a good roommate / room to rent situation - my brother lives there and I’ve seen some pretty impressive houses there. But lots of places will be convenient to transportation in the Chicago area.

Best of luck!!

20

I’ve always had a fascination with IT security. Helping businesses stop hackers just feels right.

At my current situation, my parents live in Hodgkins, near LaGrange (and the LaGrange Rd. Metra station), and also a close distance from Pace #330 at Joliet (Route 66)/East Avenue. It’s also a 22 minute drive from my house if I decide to park at the station. At $1200 a year (CTA 30 Day Pass x 12), it would be a good cost saving measure.

My parents already got the message, so I should be okay. The plan I have set now is to stay at my family’s house for one more year (until I have some money to live alone), and once I’m set, I’m outta there. Maybe sooner depending on how much money my job pays out, and various other variables. Currently I’ve been setting up bare bones budgets for when I’m living alone- all theoretical budgets so I can plan ahead in situations where my paycheck is a set amount per month, like living off $900 per week for a theoretical job (not sure if I’ll get payed more or less, of course).