Education v. bricks and mortar?
June 11, 2010 10:37 AM Subscribe
Will I regret spending my savings on further education?
posted by anonymous to education (6 answers total) 2 users marked this as a favorite
After 10 years working in technical jobs I'm burnt out and need to move on. I've been accepted on a practical MA programme starting in October - yay! Except now I'm getting cold feet about actually handing in my notice...
At the time of applying it all made sense - I've becoming increasingly unhappy in my field - my current job is both stressful AND tedious - and I've lost a lot of confidence. I've have been in therapy for depression and anxiety for the last eight months and everyone who loves me says the career I fell into is just a bad fit. Nine months of full-time study plus an internship sounds like a glorious chance to reinvigorate my mind and soul, whilst broadening my chances of moving into a more suitable field - but I'm scared about the cost in time and money.
I will be self-funding to the tune of at least £13k (£3.8k course fees, £9K living expenses). I'll have a further £7k in liquid savings to cushion up to six months of job-hunting afterwards, but obviously I'm not keen on burning more of my hard-earned nest-egg than I have to.
I'm 35 and very aware of my peers buying houses, racking up pension funds, progressing in careers, doing all that grown-up stuff, and I'm worried that going back to school will do wonders for my mind but nothing for my financial security. I'm in the UK so don't have to worry about losing benefits but I am scared of spending so much money on something that isn't a deposit for a house (I'm renting currently). I'm from a poor background and feel panicky when looking at the sums. Job prospects in the new field are pretty good but they don't pay as anywhere near as much as my current job and despite having no kids and living pretty cheaply it'll probably take me a long time to build up an equivalent amount again.
I'm scared that short-term happiness might lead to long-term instability, but could short-term instability lead to long-term happiness? I don't know what to do. Any insight welcome. (Anonymous as sock puppet is yet to mature and co-workers read AskMe)