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[Trivia]Economically It Makes More Sense for Me to Not Work This Summer Than To Work

Discussion in 'Issues Around the World' started by Techie2000, Mar 12, 2006.

  1. Techie2000

    Techie2000 The crowd would sing:

    Who can explain why?
  2. Coot

    Coot Passed Away January 7, 2010

    You lose grant money/tuition assistance.
  3. Techie2000

    Techie2000 The crowd would sing:

    I do, though that's not exactly the reason but part. Income is assessed at 50% against aid money given to me, so its a factor, though not the biggest one.
  4. Biker

    Biker Administrator Staff Member

    He found a rich woman.... :lol:
  5. SixofNine

    SixofNine Jedi Sage Staff Member

    You don't want to threaten your status as a dependent on your parents' tax return?

  6. Steve

    Steve Is that it, then?

    I can explain why it's against your best economic interests.

    All work experience, at your age, is beneficial on a resume. Even the position of dishwasher will look good, if you can demonstrate a decent work ethic while at that job. NOT working just puts you among the ranks of other 20-something slackers cruising through school.

    All else being equal, prospective employers will give the nod to those with broader work experience than those without, at your age.

    Sorry for the sermon, but it's the truth.
  7. tke711

    tke711 Oink Oink Staff Member

    I completely agree with Steve. I held jobs all through college, both during the semester and during breaks. When I graduated and started going on interviews, numerous companies commented on how it was nice to see a graduate that actually had some sort of work experience.

    As one executive put it, "Anyone can just go to school and graduate."
  8. ravital

    ravital Banned

    Brian alluded to it - the terms of your student loan hinge on your status as your parents' dependent on their tax return?
  9. Techie2000

    Techie2000 The crowd would sing:

    Nope, it's not the student loans. I'll leave this open for some more guesses, but I can't think of a hint that won't give the whole thing away...
  10. SixofNine

    SixofNine Jedi Sage Staff Member

    So it has nothing to do with your status as a dependent on a 1040?

  11. Techie2000

    Techie2000 The crowd would sing:

    Nope, absolutely nothing.
  12. Steve

    Steve Is that it, then?

    Other than tax implications, the only thing I can think of is that you landed a sweet, non-paying internship with good application toward your major and overall work experience but it's essentially full-time, thus precluding a paying job.
  13. Techie2000

    Techie2000 The crowd would sing:

    I could only wish, every single internship basically said "freshman need not apply" so that shot that out the window for this summer, though will probably be what I get to do next summer.

    Seeing that I've exhausted all guesses, I'll just say it, in order to get a job, I need a car, as I no longer have use of the one I was using, and in running quite a few calculations, it would cost more for me to get the car, and maintain the car, pay for registration, taxes, insurance, etc. than I would make all summer on the job, and I do not need the car while I am at school.
  14. Biker

    Biker Administrator Staff Member

    Easily fixed. See my first post in this thread. :lol:
  15. tke711

    tke711 Oink Oink Staff Member

    What kind of car were you thinking of getting? I had a car in college that I paid for, and I easily made more at my job then what it cost to keep up the car.
  16. Stonehawk

    Stonehawk AKA Jerry

    Yeah, you don't need a Hummer, Benz, BMW, Lexus, Audi, etc

    All of which are present in great number on the UW campus. I just can't believe the cars that these kids (sorry Matt) are driving! Today, I saw a Pearl White Hummer H3 parked behind a fraternity house on Langdon. Bad enough right? Two of the doors were dented and the paint was scratched all to hell (typical vehicle damage for campus). Why on gods green earth would you drive a $50,000 or more vehicle to college?

    Buy a $200 - $300 beater and drive it into the ground. Liability insurance as a minimum and drive the hell out of it. Easy ROI and a big boost for your resume. Will show prospective employers that you are resourceful and a hard worker.

    Stay safe,

  17. Techie2000

    Techie2000 The crowd would sing:

    The cost of the actual car is largely inconsequential. It's the insurance increase that will pretty much wipe out any money I make. Over the long long run, I can support a car between a job at home, the job I have at school, and my consulting jobs. It's just that I won't use a car while I'm at school, so a car would be useful only 4 months. The increase in insurance from getting the car, would be about equivelent if not greater than the amount I'd make in the summer (reason for getting the car, to get job), then would also go into money made at my school job (which is mine to keep, and I don't need a car for that money) when you factor in registration, buying the car, gas, and routine maintaince I end up losing money versus if I just have no car, work no summer job, and keep my money from my school job. I did calculate my projections all at me making minimum wage working 40 hours a week.
  18. tke711

    tke711 Oink Oink Staff Member

    What kind of insurance are you looking at and on what type of car? If you get a beater, as Jerry said above, and just get liability insurance, it shouldn't be THAT bad.

    As for maintenance, since you won't be driving it much, it should be minimal. I remember in college only changing my oil every 6-12 months since I wasn't putting miles on the car. Remember, that 3,000/3 months thing is a lot of crap. ;)

    Other then gas, I rarely, if ever had to do any real maintenance on my car. I think I needed a new muffler once and new brakes once in the entire 5 years I was there.
  19. Techie2000

    Techie2000 The crowd would sing:

    Not sure what kind of insurance, just know how much it would cost based on what my Dad told me. Still working on the details, and based on some things, I see some scenarios where things could pan out, but a lot that don't. I'll know more for certain once the time gets closer...
  20. Elspeth

    Elspeth Beware the Fire Dragon

    Also another to look for at insurance is that if you have at least a 3.0 (at least that is what it was for my insurance many moons ago) you got a discount on insurance. Also what about getting a 6 month policy? Sometimes those are cheaper. If you don't need the car all year

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