Real-Life Decision Making
You have been working as a miner for a number of years now. You started in the gold mines of the Yukon and have continued working in various areas of mining for large and small companies. You haven't taken any post-secondary training in mining.
You are now beginning to wonder if upgrading would be in your favor. You know going back to school would mean less money in the short term, but more money in the long term.
Your company has only been hiring employees recently with post-secondary training in mining or engineering. You are afraid that you may be one of the first to be laid off if cutbacks are made. You make a good income. The investors don't seem to be worried about costs at this time.
James Moor is the director of information for a mining organization. "Most activities in mining and mineral exploration tend to be cost-intensive. Big costs mean big decisions -- and sometimes result in big mistakes!" he says.
You have recently been married and you are expecting your first child in just a few months. Once your child is born, you will be a one-income family. If you decide to go back to school, you will have no income for at least six months.
You will be eligible for student loans, however. You don't have to worry about mortgage payments, thanks to help from your family. However, you will still have food, tuition, books and many other expenses. The student loan should cover the costs, but you will have to budget and be very careful of what you spend.
What do you do?