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Uncategorized | 4min Read

How to plan a gap year? Resources, tools & tips

Published on October 6, 2020

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Uncategorized

How to plan a gap year? Resources, tools & tips

In one of our previous article, we explored 7 benefits of a gap year and why you should take one right after high school especially if you lack clarity on your long term goals. Since we have covered the why, it is time to check out the how and when. In this article, we will explore how to plan, what tools and resources to use, the best time to start your planning, etc.

A gap year can either be extremely rewarding or wasteful!! If planned well, the benefits can be tremendous. On the contrary, if left unplanned, it can have negative outcomes as well.

While this may seem daunting at first, it doesn’t have to be. We have created this guide to help maximise your experience.

Set Up Goals

The first and foremost thing to start with are your goals. Writing your goals down will help you stay focused and on course to best utilise this time. Below are a few questions to help you get started:

• Do you want to learn a particular skill? Like dancing, cooking, coding, speaking a new language, etc.

• Would you rather volunteer? Maybe at a farm, at an animal shelter, help people build homes, etc.

• Or would you work as an intern and learn how business works, increase exposure in sales, marketing, finance, etc.

• Or would you want to travel and be on the road and learn to scuba dive, improve your photography/writing skills?

• Would you like to start a business and experiment to earn some money?

• Spend time deciding what you want to do – the list can go on

Mental Mapping

During our conversations with both parents and students, we realised that there is a misconception on the term gap year in India. The perception that the majority carry is one where both parents & students think of it as a time for vacation or one that is going to be wasteful. Whereas, it is exactly the opposite of that. While you are primarily taking a break from curriculum-based education, you are required to be diligent, organised and disciplined during the whole period.

Hence, it is important to align your thought process with the outcome and desired results rather than thinking of this as a wasteful time period.

When To Start?

We think that it is ideal to start planning almost a year in advance since most aspects tend to be beyond our control. Constraints like convincing parents, figuring out what to do, financing your gap year, paperwork (if you decide to travel), applications to organisations for work/volunteering gigs, etc. need time to materialise & are most often beyond our control and so it is best to figure these out a year before your gap year begins.

Step By Step Process:

Below is an outline on how to structure the process and how to begin your gap year journey!! While this is a guideline, there can be several ways to do this:

• Step 1: Set up your goals on what you want to achieve in your gap year

• Step 2: Start your research, speak to others who have done it or who you think can help you guide in this process

• Step 3: Network with others who have done it or who you think can help you through this process

• Step 4: Get in touch with organisations, understand their requirements, get started with your interviews, admissions process, etc.

• Step 5: Start your paperwork – visas, other documentation, etc.

• Step 6: Figure out your finances and how you will manage them

• Step 7: START & periodically track your progress

Resource Ideas To Help You Get Started

While there are numerous resources and organisations that support gap year for high school students in the west, the whole process is not as streamlined as we would like for gap year in India. Nonetheless, we have compiled a list that will come in handy while you do your own research.

Volunteering Resources:

Indian organisations:

Goonj – Disaster relief, humanitarian aid & community development

Robinhoodarmy – is an organisation that helps in reducing food wastage

Teachforindia – help educate the underprivileged

Indianredcross – provides humanitarian support to human life and health to individuals based in India

Workaway – Cultural exchange, volunteering and working holiday experiences in over 170 countries.

WWOOF – Volunteer opportunities on organic farms, sustainable living and home stays across the world.

Internship resources:

Internshala

Worldinternships

Wrapping Up:

We hope that you can see the benefits a gap year will have if you plan it well. It will have a profound effect on your future if you consider this from the perspective of learning and not something that is a waste of your time, effort and energy.

The life skills and memories that you end up making during your gap year will mostly last you a lifetime and also gear you up for tougher challenges further up in the road.

For any questions that you might have – please post them below in the comments section. One of our advisors will be happy to guide you further.

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blog Personal Finance | 5min Read

Importance of Financial Literacy for a high school student

Published on October 3, 2020

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Importance of Financial Literacy for a high school student

Financial literacy is critical for everyone at every stage of life. It forms the basis through which many of our basic necessities are met. At TheBigRedGroup we feel that high school students should get on this journey a lot sooner rather than later.

Culturally as compared to some of the western cultures and countries – young adults in India are protected from the realities of life and by the time they go out to the real world and face challenges regarding management of their own finances, it tends to be a tad too late.

Given the landscape, we feel it is crucial that one actually learns this skill even before they finish high school.

What It Means To Be Financially Literate

A financially literate person can understand and use financial skills. Financial literacy is not just going to the store and deciding if you have enough money for your purchase.

To be financially literate, you need to understand how to manage your finances, budget, and how to invest wisely.

Knowing Your Money Matters

When you are financially literate, you are less susceptible to fraud and scams. You can live your life comfortably and reduce the amount of stress that financial dependence brings with it.

Financial literacy will help you achieve your goals, fulfil your dreams, help plan your future, stay stress free during unforeseen incidents and emergencies and retire peacefully.

Being financially literate will also assist you in staying debt free and manage other aspects of your life.

Using Money

Time and again we come across the same struggles that young adults go through immediately after graduation or at the start of their careers.

Using money means more than just understanding how to make cash purchases.

It is important to track transactions and live within the means of your income in the beginning a lot more than as you start progressing in your career.

Learning about the various financial products such as loans, insurance, investment opportunities, different asset classes, etc. really help in improving your financial literacy..

You will need to know how to make a household budget, learn how to manage and pay off debt, and look at the pros and cons of various investment products on the market.

You will also want to evaluate credit cards to determine the best card for your needs. You can ensure that you are not accumulating debt that will be difficult to manage later on down the road.

Lack Of Financial Literacy

Financial literacy is a skill and if you do not learn this skill,  there can be issues down the road.  It is more likely that you will attain debt that you can’t pay off or that you are consistently struggling to make your ends meet.

Things can spiral from there, causing poor credit, bankruptcy, housing foreclosure, or other unforeseen negative ramifications.

How To Learn Financial Literacy

You can take steps to learn how to manage your money and spend it wisely without falling into the debt trap.

1. Make a budget – No matter what you do, it is crucial to track the money that you receive versus the money that you spend.  There are many ways to do this, but an Excel sheet may be one of the easiest.

In the sheet, include any income that you receive and make a note of your expenses. At a younger age, it may be as simple as going to a movie each week with a group of friends.

As you get older, it will include other expenses like rent, car payments, insurance, payment of utilities, etc.

2. Make a habit to save – Saving funds is crucial especially in India, where unlike rich countries, the government is incapable of providing a safety net to its citizens.

Set a savings goal – maybe there is a new video game you want. Decide how much money you can put away each week or month toward that goal before you sort out the rest of your money for other expenses.

As you get older, the goal may become more extensive.  Eventually, you will want to save for a car or a house.  But, starting small teaches you how to do it so that you can reach your goals one step at a time.

3. Manage your debt – It is not a good idea to ask your parents for an advance on your allowance or to be paid for chores you have not yet done.

Taking advances is how you accumulate debt.  But, there are certain circumstances you may not be able to avoid.

Your favorite band will be playing live, and you need to get tickets as soon as they go on sale, so you do not miss out.

If you take an advance of money, make sure you have a solid repayment plan.  Work the repayment into your budget so that you pay a certain amount each week until the debt has been repaid.

You have to remember that your parents may not charge you interest on a loan, but as you get older, you will have to pay interest on borrowed money.  The faster you pay off the debt, the less you will have to pay in interest.

4. Plan for Emergencies – Remember that concert you wanted to attend?  And you had to borrow money?  What if you had a little money in reserve for an emergency or a special event?  Along with saving, you could also set a little aside for such situations.

Again, it may not seem as important when you are younger but consider a few years down the road. You have saved up enough to buy a car. With that, you considered expenses such as your insurance, the cost of a license, and fuel. But then you get a flat tire. Having some money in an emergency fund can take the stress out of such a situation.

Understanding Financial Terminology

Pay attention to the various financial terminologies when you are taught at school. Take interest for example –  When you start using credit cards and investing, interest becomes very important.

It helps you understand how much you will need to pay back when you take out a loan and how much you can earn when you start to invest.

Loans will have various interest rates with terms like simple interest, compound interest, amortized rates, fixed interest, variable interest, and prime rate.

Being educated on these terms before considering any loan through a financial institution is crucial.

Spend time while you are still young, educating yourself about finance. You will be glad that you can handle your money and make sound financial decisions.

Where Do I Start?

The best time to start is when you have any money to begin to manage on your own.  It could be an allowance or money earned doing small jobs.

Start by getting some assistance, making a budget, and then see how it goes.  It is not set in stone, so you can make adjustments to it as needed until it seems to be working for you. You can also join our Smart Money Camp – the financial literacy program curated exclusively for high school students.

Next, pay attention in classes when you learn about percentages and anything else that has to do with money.  Ask questions as needed!

Have more questions? Please ask them in comments and one of our experts will be happy to help you. Alternatively, share your observations/experiences with us so that it can benefit other students in the community.

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blog Innovation | 5min Read

Why Students Need to Code

Published on September 17, 2020

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Why Students Need to Code

We hear a lot about coding these days, but what is it?  And why is it so important?  Coding is computer programming. It is becoming more critical for you to learn some of these skills to be successful in many different modern industries.  Learning to code does not necessarily mean you have to go into a computer science-related field; it is a skill that will carry over into many different occupations.

A Head Start

Children as young as five-years-old can start learning to code.  Young children learn how to code through gamified experiences.  Starting to code is vital for more than just preparing you for careers.  Computer language is in many facets of our lives.  You will find it in education, social media, shopping, banking, and in your home.  Computers on a network can control our lighting, thermostats, and entertainment.

Learning how computers work and how we engage with them is essential.  Since such young children can learn to code, if you have not started yet, it is the time!

Develop Problem Solving And Computational Thinking Skills

You will learn new ways of thinking and be at the forefront when it comes to problem-solving.  Even if you do not understand the terms used to describe what you are doing, you will understand the concept.

When you are learning to code, you are learning the best way to solve problems.  It is crucial to have a framework from which to work.  Here is a simple one that you can follow:

  • Understand – It seems simple, but many people struggle with problems because they do not understand what the problem is.

To determine if you understand what the problem is and what kind of answer you seek, you must be able to pose the question in plain English.  If you can explain what the question asks, you know what you are looking for in terms of a solution.

  • Plan – It is essential to make a plan that will help you come up with the solution.  Write down the steps you will take and follow them in a logical order.  Making a plan gives you time to allow your brain to analyse and process before setting to work.

  • Divide – A big problem can seem like a daunting task.  Divide your problem into smaller ones to complete.  Solving the smaller problems and putting all of the pieces together will get you to the end goal.

Coding Is Fun

Aside from providing practical skills, coding is also a lot of fun.  It is used to create games and animations.  You will enjoy these learning experiences and gain important skills at the same time.

When you learn a computer language and see it work, it is neat to see your capabilities.  You enter a line of code, see something specific happen in the console, and know that the computer did what you asked it to do.

Develop Resilience

Another vital skill that comes from learning to code is the development of resiliency.  It is not often that your code will work the first time.  Half the fun of coding is going back and figuring out where the error is and how to fix it.

Developing resiliency means that when you encounter a difficult problem, you will go back to your skillset and figure out how to solve it.  Finding the errors and correcting them so that the code works is part of the fun.

It teaches you to learn from your mistakes and take time to figure out what mistake was made.  Learning from mistakes is an important life skill – not just one used in computer programming.

Thinking Outside The Box

Learning to code helps to teach you how to think differently.  It teaches you to take large problems and break them down into smaller, more manageable ones.  Computational thinking skills are highly sought after in the work field.

Coding helps teach you to take an idea that may seem vague, add some creative flair, and turn it into something practical.  You also learn that if the first idea does not work, you need to try something else.

Expand Creativity

Learning to think like a computer programmer helps to make you more creative.  You are always seeking innovative solutions to problems and seeing which one will work.  It encourages experimentation and helps to gain confidence.

It is vital to feel motivated when you are learning new skills.  When you are coding, you can see the results of your work along the way, encouraging you to keep going!  These are skills that are sought after in the workforce.

The Software Industry Needs Skilled Workers

Computer programming is not the only reason you should learn to code though there is a need for skilled workers in the software industry.  Experienced programmers are in demand. Learning even a little bit of coding will give you an edge when it comes to employment opportunities.

Because there is a demand for software engineers, the salary is usually substantial for those prepared to work in the field.

Have Fun With Math

You may find math and working with numbers boring.  Learning to code can make math fun for even the most reluctant learner.  You can improve math skills when you learn to code, and you will be having so much fun you won’t even realize that you are learning.

Coding requires the use of logic and calculation skills.  You will be using these skills to create something of your own.

 

What Employers Seek

Coding teaches more than just the basics of computer programming.  It enhances the kinds of skills you need to be successful in the workforce.  Employers seek people with specific skills. Some of these skills are further developed when you learn to code.

·       Problem-solving ability

·       Motivation to solve a problem

·       Higher-level mathematical thinking

·       Computer skills

·       Ability to work alone or on a team

·       Critical Thinking

·       Self-esteem and confidence while doing the job

·       Creative thinking

·       Increased resilience when face with challenges

·       Better reasoning, organisation, and planning skills

·       Ability to seek and find information

Learning to code provides you with the skill set you will need to succeed in the ever-changing and advancing world.

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blog Entrepreneurship | 4min Read

The Importance of Entrepreneurship

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The Importance of Entrepreneurship

Learning entrepreneurship gives you the knowledge you need to start companies and the skills to think creatively and ambitiously.  We need the current generation of learners to create companies that will help to provide jobs.

The current jobs on the market may become obsolete as the population ages and technology advances.  We will need new, more advanced, and innovative roles for you as you leave your formal education.  Learning entrepreneurial skills will ensure that you gain skills in critical thinking, communication, and collaboration, which will help you invent new careers for yourself and future generations.

Teaching you entrepreneurship will help you to stimulate the economy.

How It Helps You If You Are A Minority Or At-Risk Learner

Entrepreneurship is something that can help tap into your creativity.  It is about creating an opportunity based on your interests and talents.  Anyone with an idea and the drive to see it come to fruition can be successful.

Entrepreneurship programs can help students of all races and socio-economic backgrounds become successful.  Helping to recognise your interests and talents can give you the drive that is needed to turn their ideas into reality.

You learn how to take risks.  Taking risks and learning from mistakes helps to cultivate ingenuity.  Risk-taking helps to teach you that it is okay if you fail the first time.  It teaches you to persist.  you will learn to be creative, innovative, and inventive to see success.

Results Of Entrepreneurship In Education

·       Economic growth

·       Job creation

·       Social resilience

·       Individual growth

·       Increased engagement

·       Improved quality of work

Educators are tasked with teaching you to build your version of success.  Each student has his skills and talents, which need to be cultivated and honed.

Entrepreneurship education prepares you for challenging opportunities that you will need to be ready for in the workplace.

Teaching Entrepreneurs

Learning how to be an entrepreneur can be done through scaffolding skills.  Being an entrepreneur means that you can use your imagination to envision things that may not yet exist.

You will use creativity and imagination to solve the challenges that you encounter.  You will be able to come up with unique solutions when you apply your creativity to the problems.

Learning entrepreneurship means that you are learning to engage with your surroundings and experiment with creative solutions for problems.  If a problem is complicated, you are taught to reframe it to see other options to make it solvable.

Entrepreneurial skills can be learned in the classroom and through involvement in extracurricular activities that encourage creative problem-solving.

Entrepreneurship teaches you to see opportunities, create opportunities, and then act on them.

The Mindset

There is a certain mindset in schools that needs to change to teach entrepreneurs properly.

We are so used to being taught that there is a right answer and a wrong answer.  If we don’t get the correct answer, we have failed.

Entrepreneurship teaches that there are several possible answers and several ways to find the solution.  If we do not get something right the first time, we have not failed.  We need to come up with a different answer.  That is the kind of thinking that needs to be fostered in you, our young learners.

The Benefit Of Entrepreneurship

Though entrepreneurial skills help people learn to start and run a company, there are other benefits to learning these skills.  You do not have to have your own business – you can be innovative and creative in your role within a company.

Learning soft skills will help you learn to think outside the box.  This is a skill needed to move any company forward.

Ways To Encourage Entrepreneurial Thinking

·       Teach financial literacy

·       Let kids work

·       Help them to set goals

Many kids grow up without knowing or understanding the value of money.  Learning financial literacy will help you to become an adult who is financially aware and capable.

Financial literacy for students can be taught in schools to some degree, but it is a skill that also needs to be addressed at home.  You need incentives to save money.  One way to do this is to save your own money for items you wish to purchase instead of asking parents to buy things for you.  This will teach you that you need to work to save money for the things you want.

You can also go to the store with your parents and help with the transactions.  Having some buying power at the grocery store so that they are managing small amounts of money will start you off in the right direction.

You can be taught the value of money by having to work for it.  If you are not old enough for a part-time job, you can ask to be paid for helping with small chores around the house.  If you are older, you can earn money babysitting or helping younger siblings with homework.

When you are old enough to work outside the home, you can get a job that will expose you to different things.  This exposure will help you to develop interpersonal skills.  You will learn how to deal with people from various backgrounds and cultures.

Working a part-time job also teaches you how to be resilient.  It can be stressful working with the public.  You will learn how to face challenges and persevere to earn your paycheque.

Entrepreneurial thinking requires the skill of goal-setting.  You will learn how to plan ways to reach your goals, which will make you a successful entrepreneur.  Students who can set goals and make a plan for achieving them are creating their path to success.

Start creating your own path today! Sign up for our entrepreneur workshop today.

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blog Internship | 4min Read

How Internship Can Help Your Future

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How Internship Can Help Your Future

Think about starting a new job without knowing the first thing about what you will be doing.  Now imagine a position where you have had an opportunity to work in the field and gain firsthand knowledge.  That is what an internship can do for you.

Finding an internship means that you will get to work in the field and learn on the job from someone who already has experience.

Real-Life Experience

An internship means that you can get some real-life experience in your chosen field.  Gaining this experience gives you a chance to build your skill set, gain knowledge, and use the theoretical practice you have been studying.  Education and knowledge are two different things.  In essence, you get an education to go out into the work world, and once out in the work world, you gain your knowledge.

An internship can give you a feel for what a particular job is like and whether you enjoy it.  It allows you to work in an industry or at a company to get a sense of whether it is a good fit for you.

If it does not turn out to be a fit, you have still gained experience doing something new, which is beneficial.  It is even more useful if you can get an internship in a new environment.  Moving to a new community means that you will be gaining exposure to new people and possibly new surroundings.

An internship will give you some experience in the professional world without the same stress and pressure associated with a full-time career.

Opportunity For Self-Introspection

Doing something out of your everyday routine will also give you the chance to learn more about yourself.  Working in a new environment will enable you to learn about your goals and ambitions and reach them.

An internship also helps you to determine if you are on the right career path.  Sometimes you may have an idea in mind of what you want to do, but when you get there, your expectations are not met.

Doing an internship allows you to decide if you have made the right career choice or if there may be something more suited to your abilities and interests.

Develop Your Professional Network

Maybe you will love your internship and be happy with the choices you have made.  Even before you finish school, working in the field will help you build your network and mingle with others in the profession.

Networking is an essential step in the career world.  When you do an internship, try to meet as many people as possible and always act professionally.  You never know who you may encounter and how it could help to advance your future career. 

Make Your Name Known

When you have the opportunity to do an internship, it is putting your name out there.  Having your name known is an excellent way to ensure that you get past the first step when applying for jobs in the future.

When a company receives resumes for a posting, they need a process to weed them out and only look at the best.  If you have an opportunity to make your name known ahead of time, this will help when it is time to submit applications for jobs.

Often, the person who is screening the resumes will look to experience to see what you have to offer in the field and how much practical experience you have.  Even if you are new to the job search, if you have had an internship, it means you have experience!

 You can highlight what tasks and projects you did as an intern and how you can offer value to the company on your resume.

The Transition

It can be hard to gain employment immediately, but being an intern gives you a head start.  Companies will often hire interns in the future for full-time postings.

The company has already invested in you, so if you show that you are capable and indispensable, you may get a permanent job following the internship.

Professional Feedback

Doing an internship is also a great way to gain some feedback on your performance.  Though you will learn theory in the classroom, it is different than applying it to real-life situations.

Take constructive criticism and learn from it so that you can improve your skills for your current and future endeavours.  If you are open and willing to learn, you will gain a lot from participating in an internship.

You will gain experience in the industry, and you will learn how to be better.  Working gives you an advantage over people who have not taken part in an internship opportunity.

The Impact

Having an internship will have a significant impact on your future career.  If it is not a paid internship, you still get the experience and other benefits.  If paid, it allows you to use the money to further your learning through professional development opportunities.

Do not discount an internship if it does not pay; the long term payoff is what you seek.  And any experience that you can get will look great on your resume.

The India Skills Report 2019 states, “Internship is not the only factor that determines employability, but it is a critical factor.”

The report discusses the importance of being able to unlearn some things and then re-learn them.  It will be an essential skill to keep updated on the latest developments in the chosen field.  Being an intern can help to teach this skill much more effectively than classroom learning.

The Bottom Line

Taking an internship will help you to achieve your goals and reach your highest potential!

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