We all know that preparing for the CPA exams takes up a lot of money, time and effort. Some people do not take the exam because it is cost-prohibitive. However, if you are creative, you can recoup the investment you put in. Here are some ways I thought I could save money or recoup my investment, but you can come up with your own.
0. Save money (literally) to cover CPA exam-related expenses. [savings: money]
1. Stop going out to clubs, parties, happy hours, etc. and use that time to study. [savings: time & money]
2. Stop unnecessary shopping and use that time to study. [savings: time & money]
3. Carry lunch to work instead of going out to buy lunch. [savings: time & money] (A big thank you to my mom for teaching me to cook way back when! It has saved me a lot of time, money, fat and heartache!)
4. Practice what you preach; have a budget and live within that budget. [savings: money]
5. Work hard so that you pass the first time you take the exam. [savings/investment: money]
6. Staying out of trouble. For example, if you don’t drink, you cannot “drink and drive”. If you are not working, the CPA exam may occupy your time and keep you out of all sorts of trouble. [savings: time and money]
7. A reason to avoid group lunches because you want to study during lunch break. (Similar to 3. above, but the difference is that while on 3. you would spend money on lunch whether you have company or not, here the CPA exam becomes your reason for avoiding “peer-pressure lunches.”)
I am sure there are more ways… please feel free to share the ways you have saved money (or you will save money) as a result of the CPA exam. Obviously, this does not mean you should stop “having a life”; a nice balance can be reached.
As with all other info on this blog, these are just my opinions. I am surely not a financial planner or advisor! No warranties or guarantees whatsoever as to accuracy or effectiveness of whatever I write… use at your own risk!
Thanks for reading, and I hope you found that helpful.
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