#BigIdeas2022: Looking Back At 2021 (Part 2).

Welcome back, Dear Readers, to the second installment of #BigIdeas2022!

Welcome to the JMS blog, your hub for the success tips to level up your brand. 

As a reminder, this website answers all your branding questions.  If it is your first time visiting, this blog is the brainchild of JMStrategy LLC (JMS), a boutique consulting firm that offers strategic solutions to strengthen your professional or personal brands.  Now, without further ado, let’s dive into the three-part #BigIdeas2022 series that outlines key takeaways to keep at the forefront of industry-specific 2022 economic revitalization efforts.

Today the JMS blog highlights everything you need to know about #BigIdeas2022 around money to consider for the life of your dreams and avoid financial pitfalls.

Should investing in a 4-year degree be part of the #BigIdeas2022 list? 

Dear Readers, as you know, going to college has become an expensive investment.  But has the quality of education increased with the steep price inflation we’ve seen over the last 20 years?  Many Americans decry the fact that they are not able to find a job that pays decently enough to cover student debt payments in addition to living expenses.

Now, more than ever, only jobs in the STEM (Science, Technology, Engineering, Mathematics) fields appear to provide a good return on the 4-year degree.  The price tag may be excessive for all other majors as it keeps recent graduates suffocating under the weight of their student debt for years!  No wonder undergraduate enrollment has fallen over the last two years! 

So, Dear Readers, if you are trying to figure out whether high schoolers in your family should attend college, this blog is here to caution you.  Make sure that you send them to earn a degree with the highest return on investment possible.  Otherwise, is it even worth it to get in debt for a degree that most schools redesigned to include an online component since the beginning of the pandemic?  Why pay outrageous bills if the students cannot attend in-person classes?  How can colleges justify the extensive infrastructures provided as line items on the tuition bill?   

So, is the 4-year degree becoming obsolete?  Maybe.  Only time will tell.  Who knows where we will be in five or ten years?  For now, though, Dear Readers, this blog believes that some 4-year degrees should be part of your #BigIdeas2022 list.  Just be strategic and don’t buy into the college hype.  Dear Readers, do what’s best for your family so that you avoid getting caught in the vicious cycle of student debt.

Buy Now, Pay Later (BNPL) is very much a #BigIdeas2022. 

Who knew the pandemic would disrupt even the way we make purchases?  In a time of financial uncertainty and an undeniable global surge in online shopping, BNPL has taken off like a rocket!  Everyone is buying into the idea of spreading payments over time without interest for any purchases both, big and small.   

Now, that’s direct competition to credit card companies, isn’t it, Dear Readers?  BNPL is especially attractive to people with limited access to credit, like gig workers, recent high school/college graduates, and historically marginalized communities.  But is that a good thing?  The JMS team is tired of seeing frustrated clients who would be very successful if it wasn’t for bad financial decisions made along the way still affecting their creditworthiness today.

Consequently, Dear Readers, this blog cautions partaking in this #BigIdea2022 if you are not going to be able to make on-time payments.  In other words, Dear Readers, missing one will affect your credit score.  Let’s not fool ourselves; BNPL is not a free ride but a loan.  Point Blank. Period!  You have to keep track of payment due dates, or else BNPL is yet another tool that can negatively impact your creditworthiness long into the future.  

Are we leaving hustle culture behind and for good?

Oh please, Dear Readers, this blog does not doubt that hustle culture will be one of #BigIdeas2022.  In the first installment of this series, the JMS team explores the many ways the job market is likely to change in 2022.  As a result of the extended time of introspection that the pandemic afforded us all, many Americans decided to change their relationship with work.

But bills have not disappeared, Dear Readers!  We still have the same responsibilities, if not more!  Quitting might have been necessary for many in 2021.  So, get ready to see hustle culture reach new heights in 2022.  Can we blame anyone?  Listen, Dear Readers, many people have lost a lot.  Isn’t that why CNBC’s Jim Cramer stated that the pandemic led to “one of the greatest wealth transfers in history”? Why should billionaires be the only ones getting richer in this pandemic? So, Dear Readers, join the Instagram hustlers and get yourself a 2022 hustle!  Now is the time to start that business you’ve been dreaming of pursuing for the last decade! 

Final thoughts on the second installment of #BigIdeas2022.

There you have it!  The JMS team thanks you, Dear Readers, for taking the time to read #BigIdeas2022 part two.  What are your thoughts?  Do you agree with our analysis, or do you think that we’ve missed anything?  Come back next week to find out national trends to be aware of as we fight to get our lives back in 2022.