Previously, I outlined four action steps to help MBA students manage the financial impact of starting and paying for an MBA program. I followed up with a discussion of the first step, assessing your financial wellbeing. The second step, evaluating your current financial situation, is the subject of this post.
Why Evaluate Your Current Financial Situation?
Since MBA programs typically want you to pay your MBA program’s tuition and fees in advance it is a good idea to identify as soon as possible the source of the funds you will use to make these payments. Waiting until the last minute or focusing on only one source can result in a negative long-term impact on your financial wellbeing. Evaluating your current financial situation, however simple or complex it may be, helps you minimize the negative impact.