Debating whether I should study finance or accounting at a University

[GoldenGlow]

It's not unscripted to attend a university, but the government will be paying for my education in this scenario because I know the right people who can get me in there on the basis that I claimed unemployment benefits for a while because of my asperger's. I can easily find the right organizations to contact and it'll keep my family from being foul headwinds if I'm making what they consider to be 'the right moves'. I can't show them any results at home because this environment feels too comfortable to push myself towards any real progress on a consistent basis. It's easy to lose my focus and get sidetracked doing 10 other things. I make schedules for myself, but rarely follow them. I've realized that I was arrogant enough to think that entrepreneurship was easy, when it's actually like eating glass whilst staring into the abyss. I haven't even made any money from entrepreneurship yet and that's a good thing, because I'll probably squander that wealth with not knowing enough about financial management, or even time management.

In University, you are forced to be on a schedule and your learning is concentrated onto one field. With a strong financial skillset, I could start a business that actually lasts. Not a half-assed pipe whim like soapmaking. Being on a consistent schedule for 3-4 years will train me to be more disciplined and even when my routine has been taken from me and I'm forced into chaos, I'll still be away from living in my father's basement. So after graduating I can get the job to raise capital to invest into a business pursuit that is logical, or take side hustles and learn more skills so that I can buy an existing business and improve it.

My mental health will decline either way. You need to start with something that's a bit easier, that feels beneath you, to build your discipline to an above average level. University is infinitely more easier than entrepreneurship. If I can't see University through, I won't see entrepreneurship through. Discipline and resilience through tough situations are necessary for your overall well-being as a man. I need to learn how to handle stressful situations because I'll be managing a bunch of financial instruments at once. I'm not going to attend a top university, but I could still meet people my age who have fathers who run small companies. Maybe I'll pick up more information along the way and I might have 2 hours free each weekend to learn a new skill that will add onto what I'm learning. It's easier to measure progress in a controlled environment and my home isn't good enough for that.

 

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[Kevin88660]

It's not unscripted to attend a university, but the government will be paying for my education in this scenario because I know the right people who can get me in there on the basis that I claimed unemployment benefits for a while because of my asperger's. I can easily find the right organizations to contact and it'll keep my family from being foul headwinds if I'm making what they consider to be 'the right moves'. I can't show them any results at home because this environment feels too comfortable to push myself towards any real progress on a consistent basis. It's easy to lose my focus and get sidetracked doing 10 other things. I make schedules for myself, but rarely follow them. I've realized that I was arrogant enough to think that entrepreneurship was easy, when it's actually like eating glass whilst staring into the abyss. I haven't even made any money from entrepreneurship yet and that's a good thing, because I'll probably squander that wealth with not knowing enough about financial management, or even time management.

In University, you are forced to be on a schedule and your learning is concentrated onto one field. With a strong financial skillset, I could start a business that actually lasts. Not a half-assed pipe whim like soapmaking. Being on a consistent schedule for 3-4 years will train me to be more disciplined and even when my routine has been taken from me and I'm forced into chaos, I'll still be away from living in my father's basement. So after graduating I can get the job to raise capital to invest into a business pursuit that is logical, or take side hustles and learn more skills so that I can buy an existing business and improve it.

My mental health will decline either way. You need to start with something that's a bit easier, that feels beneath you, to build your discipline to an above average level. University is infinitely more easier than entrepreneurship. If I can't see University through, I won't see entrepreneurship through. Discipline and resilience through tough situations are necessary for your overall well-being as a man. I need to learn how to handle stressful situations because I'll be managing a bunch of financial instruments at once. I'm not going to attend a top university, but I could still meet people my age who have fathers who run small companies. Maybe I'll pick up more information along the way and I might have 2 hours free each weekend to learn a new skill that will add onto what I'm learning. It's easier to measure progress in a controlled environment and my home isn't good enough for that.

Accounting is more job friendly.

 

[GoldenGlow]

I just did a WADM on whether I should study accounting or stay at home.
Accounting: 494 points
Stay at home: 510 points

I realized that I could save time by not going to University and it'll be better for other areas of self-improvement because that time will be free. I'll have a better social connection at home because I already know how to network with high level entrepreneurs thanks to the 4-Hour Work Week and have the belief that it's possible to do so. The only things I'll be forfeiting will be money and stability because I'll be using financial tools as soon as they've been learned. I'll miss out on structure because I will rely on homemade schedules that are subject to emotional whims. I need to learn how to work on and off a schedule anyway. I need to build up the resilience at home to resist temptation that will pass over to other areas of my life, such as going abroad and being in a distracting environment where it's harder to work. I think that my situation doesn't necessarily require a degree in anything, it just requires more focus and mindfulness. If my family turn into headwinds because of this, I can always save up to move out.

 

[Antifragile]

I have nothing against formal education. Pragmatic choice if you wanted job security would be accounting. Mostly because it provides skills, exact skills of how to do journal entries, Financial Statements (Balance Sheet, Income Statement, Cash Flow Statement) etc. Every single entrepreneur should have this base knowledge.

Then you could also go on and get a designation (like CPA). Having designation typically guarantees a job providing a good living standard.

Finance undergraduate degree is far more murky. Just ask what degree a teller at a local bank has… chances are, it’s in Finance. Sad, but true.

Regardless of the choice, what matters are the courses you take (not the degree itself). And because of that, I wouldn’t agonize over the answer to your question yet.

More importantly, and truly it saddens me to write this… most university programs are so antiquated they are not helpful in becoming an entrepreneur. They aren’t even all that helpful with getting a well paying job. The reason for getting a degree these days is typically for meeting people, having a good time at a young age, learning the social skills, dating etc. I don’t know anything about Asperger, but assume it has an impact on social interactions?

Questions:
1. Will you be academically exceptional? How have you been in school so far?
2. Is there any chance you’d want to work in academia? Perhaps research? Meaning - would you consider going all the way to PHD?
3. What are your personal goals in life at this time? What desire burns the brightest at the moment?
4. What kind of entrepreneurship have you tried so far? (Your comment about realizing how hard it was implies you tried something).
5. If someone who knows you very well were to describe you, what would they say was your talent?

 

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[Jon822]

Assuming it's one or the other (and not neither), accounting is objectively better.

 

[GoldenGlow]

I have nothing against formal education. Pragmatic choice if you wanted job security would be accounting. Mostly because it provides skills, exact skills of how to do journal entries, Financial Statements (Balance Sheet, Income Statement, Cash Flow Statement) etc. Every single entrepreneur should have this base knowledge.

Then you could also go on and get a designation (like CPA). Having designation typically guarantees a job providing a good living standard.

Finance undergraduate degree is far more murky. Just ask what degree a teller at a local bank has… chances are, it’s in Finance. Sad, but true.

Regardless of the choice, what matters are the courses you take (not the degree itself). And because of that, I wouldn’t agonize over the answer to your question yet.

More importantly, and truly it saddens me to write this… most university programs are so antiquated they are not helpful in becoming an entrepreneur. They aren’t even all that helpful with getting a well paying job. The reason for getting a degree these days is typically for meeting people, having a good time at a young age, learning the social skills, dating etc. I don’t know anything about Asperger, but assume it has an impact on social interactions?

Questions:
1. Will you be academically exceptional? How have you been in school so far?
2. Is there any chance you’d want to work in academia? Perhaps research? Meaning - would you consider going all the way to PHD?
3. What are your personal goals in life at this time? What desire burns the brightest at the moment?
4. What kind of entrepreneurship have you tried so far? (Your comment about realizing how hard it was implies you tried something).
5. If someone who knows you very well were to describe you, what would they say was your talent?

1. I won't become academically exceptional if I was an underachieving C-grade student in the Sixth Form that I went to. I finished Sixth Form and resat a year to study law, but failed because my interest in entrepreneurship posed a constant distraction.
2. Yes, but only on a subject that I actually care about after making it into the Fastlane and liquidising my assets. I have thought about becoming a philosophy professor before. Finance doesn't really appeal to me all that much, it's just a means to an end and Mark Cuban said that it's good.
3. My personal goal is to start a business that provides real value to customers, rather than something that can just be overlooked and ignored. What desire burns brighter is to become a writer. I want to write comedy books but I know that it'll require a Fastlane business to become financially stable enough to do this on the side.
4. I have attempted to make organic skincare products. Right now, I'm working on a soap and some body balm. Other than that, I attempted to start a marketing agency, which I quit after reading the Millionaire Fastlane . I also attempted starting a logo design business, then I looked into inventing agriculture equipment for a short period of time. Before that, in high school, I attempted making skateboards and shoes, but I didn't have a bank account so there wasn't much available to do.
5. They'd tell me that my talent is my comedy. My way with words and style of telling jokes, also my writing. I almost got into a top Sixth Form in the country to study English Language, but I failed the entry exam due to procrastination (distracted once again by entrepreneurship). I've been told that I'm very creative before. Some people think that I should look into animation because of the stories I write.

 

[Antifragile]

1. I won't become academically exceptional if I was an underachieving C-grade student in the Sixth Form that I went to. I finished Sixth Form and resat a year to study law, but failed because my interest in entrepreneurship posed a constant distraction.
2. Yes, but only on a subject that I actually care about after making it into the Fastlane and liquidising my assets. I have thought about becoming a philosophy professor before. Finance doesn't really appeal to me all that much, it's just a means to an end and Mark Cuban said that it's good.
3. My personal goal is to start a business that provides real value to customers, rather than something that can just be overlooked and ignored. What desire burns brighter is to become a writer. I want to write comedy books but I know that it'll require a Fastlane business to become financially stable enough to do this on the side.
4. I have attempted to make organic skincare products. Right now, I'm working on a soap and some body balm. Other than that, I attempted to start a marketing agency, which I quit after reading the Millionaire Fastlane . I also attempted starting a logo design business, then I looked into inventing agriculture equipment for a short period of time. Before that, in high school, I attempted making skateboards and shoes, but I didn't have a bank account so there wasn't much available to do.
5. They'd tell me that my talent is my comedy. My way with words and style of telling jokes, also my writing. I almost got into a top Sixth Form in the country to study English Language, but I failed the entry exam due to procrastination (distracted once again by entrepreneurship). I've been told that I'm very creative before. Some people think that I should look into animation because of the stories I write.

Based on this self reflection:

1. Do you think mediocrity in accounting or finance will provide with with a good job?
2. What other things could you focus on that give you the highest probability of success?
3. For your business concepts, how does it measure up against CENTS framework? More specifically, I’m curious about the Need.
4. How can you make money from comedy & writing? Are there jobs that pay well in that space? Who are people you know who succeed at this?

 

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[GoldenGlow]

Based on this self reflection:

1. Do you think mediocrity in accounting or finance will provide with with a good job?
2. What other things could you focus on that give you the highest probability of success?
3. For your business concepts, how does it measure up against CENTS framework? More specifically, I’m curious about the Need.
4. How can you make money from comedy & writing? Are there jobs that pay well in that space? Who are people you know who succeed at this?

1. It'll provide me with an average job, but not a great job. I'll most likely get a job outside of the degree itself, like working in a call centre, or in some ad writing agency.

2. Learning accounting or finance isn't good enough. You need an understanding of law, business administration, finance, economics, sales, marketing, psychology and content writing. You also need to know about what you are producing, how to produce it and the market for that product. You need to know how much it costs to produce these things, which is something that I've been avoiding because I don't want to experience the pain of being in the 'I need an idea phase' once again.

3. The world doesn't need more skateboards, shoes, marketing agencies, or another skincare brand. Shoes are needed for comfort, you can make them stylish, but there's already a supply for that. Marketing agencies are needed so that other companies can sell their products, but there are many other agencies and I can't guarantee that I'll be the best of the best. Skateboards are just there for vanity. Kids need them to have fun, I can't tell the difference between one skateboard or another as I was just money chasing at that time. Women need skincare products to look more attractive, which will increase their perceived self-confidence and make them look cleaner. The world doesn't need these things, but certain groups have perceived needs that you can play towards.

As for the rest of the CENTS framework, entry is the one that I've been the most worried about which has caused me to action fake the most. As I said in the previous paragraph, you can pivot your ideas towards a certain audience. You don't need to take on everything and compete with everything like a dog chasing cars. Branding has this covered. Time isn't important, you can automate these systems later on, or sell the company once it becomes valuable enough. You have no control over a marketing agency, you're just hitchhiking your way to success, but you do have control over all the other things, except from the decisions of retailers and Amazon. The only business I see as being unrealistic is the logo design agency. Everything else can be improved, niched upon and can lead to you divorcing income from time at some point down the line.

Scale is also a problem, as you need market feedback first. With skincare, I'd have to sell more products at $10-$15. I could sell skincare sets for $20-$30+, but you need to have the know-how and the skills to become valuable enough for this. Managing anything isn't as easy as it seems. I'm more interested in selling sets and routines right now. I'm not the best of the best in skincare because I have no skills in that area right now. A lot of what I have planned will rely on value skewing through marketing and cutting out harmful substances found in most skincare products. I have to be constantly improving the process by working 10x harder than everyone else around me to build up internal value. It may turn out to be slowlane in practice, but easy money doesn't exist.

4. Comedy and writing are passions of mine. I'm not looking to make any money in those fields until my purpose to start a Fastlane business has been fulfilled. The only people I know who have succeeded at this get paid minimum wage and live with their parents. It's not something you want to do unless you have the financial leverage to gain that kind of scale. I do believe that I have the potential to be the next Mark Twain if I get my business on track first, although it will take more than just an average skincare company to reach that point.

 

[Kevin88660]

Accounting gives you more job options, because its a professional degree. You need relevant degree or certification to be an accountant. You cannot bullshit abt regulatory reporting standards. It provides handy skills also when you run your own small business.

Finance is basically learning endless models and theories that does not go beyond 2 fundamental concepts of time value of money (money today worth more than more tomorrow) and risk return negative correlation (high return need higher risk)….in my opinion not worth four years of time.

Accounting also dives deeper on valuation, which is useful in buying your own business or working in a job in finance sector (PE/IB).