Throwing money at it

[Ava]

Not very YM, I know, but I truly believe that sometimes is the best possible solution.

After much thinking I decided to enroll in the Becker accelerated, in-person classes. There are five days of classes, 8 to 5 during five consecutive Sundays. I'm sure there'll be assignments to do during the week. During those five weeks you'll get ready to pass one of the four parts of the CPA exam. Rinse and repeat for the remaining three parts.

I was going to go with Wiley CPA and study at my own pace but I see myself getting lost in boredom and distraction. It' already happening with the two classes I'm taking right now.

So I chose the most expensive CPA study guide, Becker, and their most expensive option, the in-person accelerated classes. Why, because I really mean to pass the exam, and because I really want to get started on the next chapter of my life.

This choice gives me the option of finishing the CPA in a few months and being in Miami maybe by September or October next year, with all parts passed and looking for a job where I can get the experience I need to get licensed.

So yes, I 'll be throwing money at the problem, and I really believe it's the best fix for it.

Do you ever take that route? How does it work for you? And do you ever feel guilty or regret the expense?

[bobosensei]

If all of this helps you get a raise it makes sense to go ahead and fork over money to finish things faster.  I know I'd be tempted just to study at my own pace, but like you say then you might get bored or do as good of a job ultimately causing you to take more time or possibly have to retake the test.  I can't think of a time I've been in a similar situation.  Unless you count when my car didn't pass inspection a few months ago because the airbag light was on and then there was a piece of bumper that they said needed to be reattached.  DH took my car to the honda place and while there had them reattach the bumper for 26 euro.  I wanted to have a melt down because we could have done it for the price of a nut and bolt, but that would have required another trip to a hardware store.  DH wanted to just be done with it so he could get the car reinspected.  But I would have taken the hard route even though we had the money, and probably would have complained profusely the entire time.

[souldoubt]

You're talking about an investment in your future so I don't see how that's not very YM.  This isn't throwing money at something fun or luxurious it's to increase you're long term earning power and get started on the next chapter of your life.  You mentioned that the self study route wasn't going well so rather than continuing on that path and possibly failing after months of studying then having to re-register for the same exam section a few months later you're increasing your odds of succeeding.  I preferred a self study program when I studied for the CPA exam but just like going to school some people thrive in class and some people thrive on their own.  I slacked off on my last exam because I scheduled it right before going on an international vacation for 2+ weeks and ended up having to take it again.  Trust me when I say that failing while knowing I should and could have done more sucked a lot more than any of the other time, money or things I passed on while studying for the exams.   

[haapai]

I feel absolutely no shame and no regrets for enrolling in a Becker course a decade and a half ago.  You could argue that my case was different because computer-based study programs were still in their infancy and I was in a state that required you to take all four sections at once and pass at least two and possibly get at least 50% on the others in order to get credit for any section.  But those are kinda distractions.  I just couldn't get myself to study those paper guides.  I couldn't carve out the time and I couldn't understand why so much of the material was material that had not been covered in my (rather good) undergraduate accounting program.  I needed the structure of a twice a week class and the presence of other confused, bored, and surprised nerds in order to get that material down.  The prospect of having to repeat those classes, even for free, was also quite motivating. I could tell by looking out the window that I was missing a beautiful summer and fall and I sure as heck didn't want to spend the next spring cooped up in that community college classroom. 

I really don't think that you have anything to be ashamed of. 

[MJ2.0]

That's what I'm doing next year, so if it's wrong we can be in YM Hell together.

[haapai]

I can't help but notice that neither of you two sinners is mentioning prices.  I really have no idea what ten pounds of paper exam prep costs these days (it made an excellent doorstop when I was done with it), what the computer-based alternatives cost, and what in-person instruction costs.  Would y'all care to put some numbers on what I've just given you a pass on?  I may just take it back if the spread between human instruction and DIY has widened enough. 

ETA:  The spread was pretty wide back in the early aughts.  I'm fuzzy on the details but a set of doorstops would set you back at least $100 and possibly $150.  I never seriously considered CD-ROMs or the mostly-on-your-own options that were emerging.  The jump-up to
Becker classes was pretty big.  I can't remember what they charged me for a 2-4 month, twice a week, three or four hours at a time prep-for-all-four-sections course except that it was a pretty steep increase.  I'm sure that it was at least four times, and possibly ten times, the cost of the rock-bottom option.  And this was back in the days when in-person instruction was pretty cheap/bog-standard.  In other words, I might just grant you an indulgence for signing up for something that cost five to ten times the cost of the alternatives, but you've gotta give me the price details first. 

[MJ2.0]

Nov 23, 2015 9:08:09 GMT -5 haapai said:

I can't help but notice that neither of you two sinners is mentioning prices.  I really have no idea what ten pounds of paper exam prep costs these days (it made an excellent doorstop when I was done with it), what the computer-based alternatives cost, and what in-person instruction costs.  Would y'all care to put some numbers on what I've just given you a pass on?  I may just take it back if the spread between human instruction and DIY has widened enough. 

Nope, no takesies-backsies!!!

[haapai]

I ain't taking back.  I'm investigating the current pricing structure.  It was high then and I can't imagine that it has gotten better.  And it was worth it then.  It may still be worth it now, but I'm not gonna completely sign off on it until I get some details. 

[chen35]

I did the Becker online, and you're right, it was boring and I got distracted frequently. If you think in person is best for your learning type, I say it will be well worth it!

[tskeeter]

Nov 22, 2015 22:35:08 GMT -5 Ava said:

Not very YM, I know, but I truly believe that sometimes is the best possible solution.

After much thinking I decided to enroll in the Becker accelerated, in-person classes. There are five days of classes, 8 to 5 during five consecutive Sundays. I'm sure there'll be assignments to do during the week. During those five weeks you'll get ready to pass one of the four parts of the CPA exam. Rinse and repeat for the remaining three parts.

I was going to go with Wiley CPA and study at my own pace but I see myself getting lost in boredom and distraction. It' already happening with the two classes I'm taking right now.

So I chose the most expensive CPA study guide, Becker, and their most expensive option, the in-person accelerated classes. Why, because I really mean to pass the exam, and because I really want to get started on the next chapter of my life.

This choice gives me the option of finishing the CPA in a few months and being in Miami maybe by September or October next year, with all parts passed and looking for a job where I can get the experience I need to get licensed.

So yes, I 'll be throwing money at the problem, and I really believe it's the best fix for it.

Do you ever take that route? How does it work for you? And do you ever feel guilty or regret the expense?

Years ago, I did basically the same thing.  I accepted that I didn't have the self discipline to properly prepare for the CPA exam on my own.  Took Becker.  I considered it an investment in my future earnings potential, just like a college education.

After sitting through Becker, I was able to pass all four parts of the exam on the first try.  This, back in the days when people making their first attempt had to take all four parts over a two and a half day examination period.

[Tiny]

I don't think it's such a bad idea to 'throw money' at the particular goal that you have. In theory, passing the CPA will improve your future income and/or provide more opportunities.

Now, if you were struggling and had a history of "buying" your way out of problems/obstacles - I'd be more critical - but you don't seem to be doing that. Sometimes it's totally worth it to spend money to get around a problem/obstacle. The trick is to know when (ie to choose wisely)  

I think that's one of the underlying things with being 'frugal' that gets overlooked - knowing when to spend money so you get the biggest bang for your buck. You hear about that often - someone brown bags their lunch so they have the $$ to take that nice vacation (or to take a nicer vacation) <--- the classic example. There's always a trade off.

I don't remember - but I dont' think you've taken the most expensive route the entire time to get to your goal.  that's were the 'frugal' comes in...

What I'm trying to say - that spending money sometimes IS very YMAM...   especially when it involves 'building wealth' which is a lifelong endeavor. 

[flamingo]

My DH likes to say there is no problem so big you can't fix it by throwing enough money at it. LOL

That being said, i don't think you are throwing money at a problem. You are making a well thought out investment in your education/future. I paid big money (or what felt like it 10 years ago) on an "in person" bar review course. I knew I didn't have the discipline to study on my own/at home, so I wanted to be able to go in to a class for it. Turns out, I was just watching a video of a live lecture taped earlier that week, but that was ok. I needed the accountability of being in class with 100 other people, to keep myself on track. It worked for me, and I passed the first time. Part of my thinking that summer was: "I spent $$$$ on this, I'm not wasting it by failing!"

Good luck!

[Deleted]

My ex did Becker. He wasn't even an accountant although he worked in accounting. He was actually a math major with two basic accounting courses. He couldn't even qualify to take it in Alabama, but fortunately the company he worked for was headquartered in Atlanta. His boss was over there, and he was over there a lot. So he took it there and then did the reciprocal thing when enough time had passed.

Becker taught him everything. He also had to take all four parts and pass at least two, etc. That's what he did. The second time he passed the other two.

He's a Becker believer.

[Ava]

Nov 23, 2015 9:08:09 GMT -5 haapai said:

I can't help but notice that neither of you two sinners is mentioning prices.  I really have no idea what ten pounds of paper exam prep costs these days (it made an excellent doorstop when I was done with it), what the computer-based alternatives cost, and what in-person instruction costs.  Would y'all care to put some numbers on what I've just given you a pass on?  I may just take it back if the spread between human instruction and DIY has widened enough. 

ETA:  The spread was pretty wide back in the early aughts.  I'm fuzzy on the details but a set of doorstops would set you back at least $100 and possibly $150.  I never seriously considered CD-ROMs or the mostly-on-your-own options that were emerging.  The jump-up to
Becker classes was pretty big.  I can't remember what they charged me for a 2-4 month, twice a week, three or four hours at a time prep-for-all-four-sections course except that it was a pretty steep increase.  I'm sure that it was at least four times, and possibly ten times, the cost of the rock-bottom option.  And this was back in the days when in-person instruction was pretty cheap/bog-standard.  In other words, I might just grant you an indulgence for signing up for something that cost five to ten times the cost of the alternatives, but you've gotta give me the price details first. 

The price is $3,394 for all four parts. Add to that I have to pay the Florida state CPA exam for each part, which will run an additional $800 to my tab. So we are talking about a 4k investment.

[msventoux]

The Becker in person classes are supposed to be good, so I would say it's potentially a good investment.  I went the self-study route and it is really hard to force yourself to stay on track.  Those classes weren't offered in my area so I had to find another way to get through the material. 

A coworker who took the exam many years ago said that there was a CPA exam prep course that was part of her college curriculum in the pre-computerized exam days.  Their professor taught the review materials and the class studied for the exam together.  I wish my college had offered something of that nature, it likely would have been so much easier. 

[TheOtherMe]

Back in the dark ages when you took all 4 parts of the CPA exam over 2 days and had to pass two or start over, I had many co-workers who took Becker.  They also had study groups in the evenings.  I think all of them passed the exam.  I think one or two even got all four parts the first time around.

One guy had to go through the whole thing twice.  He couldn't get the 4th part passed in time and had to start over.  All of his study buddies had passed the exam by them, but he persevered and we had a big party for him.

Good luck.

[Artemis Windsong]

If money will solve it, it's not a problem.

My thought is to get the training a quickly/efficiently as possible and get on with your life.

[wvugurl26]

Becker is worth it. Do what works for you. Some classes are cheaper but go with what helps you. It's a time saver to pass the first time.

[Deleted]

I don't know anything about Becker but I went through the actuarial exams. I'm definitely on board with anything that gives you a better chance of passing on the first try- re-taking exams is awful. Good luck!

[ZaireinHD]

Nov 23, 2015 12:58:05 GMT -5 @tbird said:

Good luck ava!

Whoops!

I had the wrong idea and thought this thread could be about strippers.