The Value of Planning

As spring arrives, your high school senior is preparing to embark on the next stage of their life and leave the security of high school behind. What is their next step, and how will it contribute to their long-term goals? Students facing an uncertain future can boost their odds of success by taking some time to make long-term plans.

It's easy to overlook the importance of planning when you're young and you feel your whole life is ahead of you. After all, only about three percent of the American workforce have thought through a career plan and have actually written out some career and life goals. This aversion to planning is negatively affecting teens and their families.

Teens Without a Plan

The majority of today's college students switch majors at least once during their academic tenure. Each change adds about one additional year in school -- and that costs the student and their family an average of $32,000 in lost salary plus additional tuition and expenses.

Over half of the freshmen who entered college last fall will take over four years to complete a bachelor's degree. If a college student reaches their sophomore year without declaring an academic major, their odds of dropping out of school double.

The Importance of Planning

Goals give structure and meaning to time. They focus our energies so that we make the best use of our time and resources. With the road laid out before us, we can begin to take action toward achieving what we want.

As young people begin to experience this achievement, they learn a lot about what works for them and what doesn't. They gain a body of information by which they can set standards for measuring their personal effectiveness. This establishes the foundation for future planning and achievement.

It's important for young planners to know that not all plans hold up under the test of reality. Parents and teens should always keep in mind that there is no failure in planning if something is learned from the attempt. Plans can and should be adjusted over time and it is always wise to have a plan B on the back burner in our rapidly changing world -- just in case!

Planning and College

Starting college is often an important step towards a student's eventual career. Choosing a major requires lots of self-awareness and self-assessment.

"You really have to pick something that you enjoy doing," says Christina Miranda. She is a human resources professional in New York. "That's something a lot of people forget when they are picking a career path."

Many students find it helpful to have a plan for what they'll do immediately after graduation, one for five years down the line, and a 10-year plan. Sitting down and imagining what their life will look like in 10 years can be a big reality check for many students. What will it take to get there? Breaking down that plan into achievable steps can give them a big boost of confidence.

A career and education plan is all about taking baby steps toward an ultimate goal or dream. For example, if a student wants to become the CEO of a major department store, they may have to work in all the company's departments first, explains Miranda. She warns that recent college grad and current college students should not reach for the stars when starting out on their career paths.

"You're definitely not going to be the CEO of anything as soon as you graduate," she laughs. "Students who are coming out of school now want much higher salaries and they want a lot of responsibility. Companies are getting tired of this 'I want to run the company' attitude from college students."

Moving up and onward towards the goals a student sets is fantastic. However, they should be prepared to review their plans every year to make sure those goals are still important to them.

Our interests change as we age, so they might have to adjust or rearrange their goals.

"A career path often has a lot of forks in the road and a lot of U-turns," says Miranda. "It is not necessarily a straight path. There will always be changes."

Experts agree: To get where you want to go, you must first stop and do some planning. Know where you are (assess yourself), know where you want to go (set goals) and know how you are going to get there (make a plan).

This is something that students should keep doing throughout their life so they don't get lost. And if they ever do, as a parent, you'll be there when they ask for directions.

Goal-Setting Strategies

Setting effective goals is a first step to developing a plan. You might want to review some goal-setting strategies with your student. MindTools.com offers these guidelines for effective goal setting:

Narrow down your goals. Set a well-defined goal, and write out dates, times and amounts so that you can measure achievement.
Prioritize. Putting things in order helps you focus on key goals and avoid feeling overwhelmed
Write everything down. It can help to see everything on paper.
Break down goals. Larger goals will be more easily attainable if you work towards them in small steps.
Focus on action. Try to select goals that allow you to retain control, and don't require you to rely on other people or situations.
Be realistic. It is important to set goals that you can achieve.
Challenge yourself. It's also important to set goals that are high enough to challenge yourself.