Education and Training

While education can teach children and teenagers basic fundamentals, consideration of ongoing higher education and training is essential when making career choices for high salary occupations or a specialist field. Many positions require competent skills and knowledge that may be acquired through university or college, on the job training or via distance education courses. 

Education planning is becoming more important as the cost of tuition, books and living expenses rises and governments worldwide subsidize less of the costs. In particular while public college and universities can provide education services, there are private sector alternatives that can provide additional facilities, high teaching quality and reputation.

Once education planning meant saving for school or university/college but now it can be expected in many industries that individuals continue their education and training in the workforce, whether by taking some time out for a course or after-work study. 

Countries such as Australia allow people to study and pay off their higher education debt later but the disadvantage of this is that they can enter the workforce with a substantial debt that indexes up each year.

While most courses are funded by the individual, scholarships and government grants are available if you meet the criteria required. Some scholarships may be awarded for high academic achievement or government grants may be available for certain PHD courses.