Managing Future Income Risk

My future income is a major factor in my current decision-making processes. I have made decisions over the last couple of years that I feel have steered me in the right direction towards a safe income. 

My first decision was deciding a major. I come from a blue-collar family and area, so a degree in something that wasn't business-related or a high-paying profession wasn't an option. This made me decide on Economics, because it gives me a good background in how the economy works and how the economy can be manipulated for benefit. I believe that this will lead me towards a higher income profession.

Another decision was how I chose to spend my summers. However, the decisions I made in terms of work were geared towards immediate relief. Because of financial situations, I was forced to take higher-paying jobs over the summer in lieu of internships that would provide me with a more beneficial experience. 

In terms of loans for college, I chose to not borrow fully from the government and financial institutions because I feared accumulating debt. However, I still chose to loan a substantial amount because I believed it would pay off in the long-run to attend a top-notch university such as the University of Illinois at Urbana-Champaign. 

Other decisions I made were clubs I joined that I believed would look the best on resumes for future job prospects, a fraternity I joined because of extensive networking through tens of thousands of graduates, and choosing to work while I am at school to help alleviate financial obligations. 

I have three older brothers who handled this situation very differently. My oldest brother graduated from a university with a degree in Health Management, and took on much debt doing so, and is still having a hard time gaining a solid financial footing. My next oldest brother was the responsible one. He majored in Business Administration and chose to go to a small school where he received an athletic scholarship so that he would not accumulate much debt. He now has a good job and, while he is still in debt from school, is managing it very well. My next brother graduated from a university with a degree in Accounting, and like the rest of us, had to take loans to pay for it. However, when he graduated, he decided that joining the U.S. Navy was his best option, and is currently managing his future very well.