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Managing my money for young adults
Managing my money for young adults

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Session 4: Preparing for life after school

Introduction

In the following video Bobby introduces the crucially important decisions you will need to address as you approach the end of your time in secondary education.

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Your focus in this session is reaching that key point in your life where you decide what you want to do when your schooldays are over. Whatever choice you make, it will have financial consequences for you – especially as this is normally when wider responsibilities for financial management are passed from your parents to you.

Some of the alternatives include:

  • taking a break – the so-called ‘gap year’ before starting one of the other alternatives (we’ll use ‘gap year’ even if it’s less or more than 12 months)
  • going into an apprenticeship
  • moving into a job and starting a career – perhaps by doing an internship (usually a short-term period of unpaid work – although employers might cover part of your travel costs)
  • continuing full-time education at a college or university.

The session ends with a longer quiz of 15 questions that cover not only this session but also Sessions 1, 2 and 3. It marks your completion of the first half of the course and counts towards your badge.

By the end of this session, you should be able to:

  • understand the choices available to you when you finish secondary education
  • understand how you can finance further and higher education studies
  • take advantage of the deals and discounts that are available for young adults
  • build a more detailed budget that you can use when living away from the family home
  • understand the budgetary pressures that can arise when you live away from home, and how to manage these.