How Entrepreneurs Cut Exam Prep Costs without Risk

Entrepreneurs can boost their careers by pursuing additional credentials, like a CFP or CFA. Even taking the LSAT or GRE can offer an excuse to fine-tune financial or legal knowledge, which can come in handy when you least expect it. But even for a savvy and successful entrepreneur, exams and certifications come with significant costs. From study materials to practice exams, you need to be prepared to shell out hundreds of dollars, if not more, to feel ready on test day.

Thankfully, low-risk and low-cost options have emerged to prep for credentialing exams. Stay with us as we explore the best strategies to cut exam prep costs.

Define What You Really Need

Some prep programs force you to buy a lot of resources you don’t truly need. You may do better with test prep by watching video lectures, or you might just want to take some practice exams. But when you buy a bundle that includes lectures, classes, and other materials, you’ll be forced into paying for a lot of extras.

How do you steer clear of this problem? Start by considering how you retain materials most effectively. Maybe you need the accountability that comes with an in-person class. Or perhaps you have the discipline to do a self-guided course. When you know how you learn best, you can hone in on study options tailored to your needs.

Consider your weakness, as well. If you’re prepping for the LSAT, for instance, you may want course materials that focus on logic. And if you’re limited on time as an entrepreneur, you may not want a lengthy course package that doesn’t align with your scheduling realities. Instead, it may be best to look for a course that offers question banks and succinct lecture notes. Taking the time to consider your needs can help you choose an appropriate test prep option. And you can find one that also works with your budget.

Look for Promo Codes and Coupons

One of the best ways to shave dollars off your exam prep efforts is through the use of promo codes and discounts. Be sure to verify any coupon sites you use, however, as some may use clickbait tricks to grab your personal details. Instead, look for discounts on reputable sites.

A site that offers Kaplan discounts and offers, for instance, will be a trustworthy one. Look for indications that the LSAT, GMAT, or CFP prep tools you see are current and verified. Stay away from anything that looks too good to be true. Free courses or unsecured payment portals are big red flags, and you should navigate to another website.

Understand the Importance of Timing

Many professional certifications or graduate school tests happen on a set schedule. Consequently, test prep companies like to time their promotions around testing schedules. In the months prior to the start of a new testing window, you may be more likely to see better costs. If you look for test prep materials around six months before your test date, you could score some early-bird deals.

To keep costs lower, plan on avoiding last-minute purchases. If you’re buying test prep materials a week or two before the test, you’ll be paying full price. And, if you’re planning on taking a few tests, look for bundles. Plan on looking carefully at the testing calendar and thinking ahead to get the best deals and avoid the last-minute flurry. Plus, with more time, it will be easier to invest in a strong test preparation routine.

Take Advantage of Employer Reimbursements for Materials

Does your business offer benefits for exam prep materials? While you might assume you have to pay the full bill for course packages, your business model might state otherwise. You may be able to treat your exam prep costs as a business expense that you can deduct around tax time. This will be true if the exam or resulting certification connects to your work and results in improved skills.

Look for the potential to make a tax deduction, and verify that doing so is legitimate with a tax advisor. You may get a professional development stipend, too, that can cover some or all of the costs. And if the exam is connected to furthering your education, you may be able to use flexible spending plan money to offset costs. In short, check the financial assistance options offered by your company.

Trim Costs without Compromising Quality

Entrepreneurs need continuing education to nurture their skills and grow their businesses. But the costs connected to pursuing courses or taking tests can seem off-putting. With some careful planning, however, entrepreneurs can take advantage of discounts and choose test prep resources suited to their needs. Ultimately, pursuing a new certification is worth the effort. Entrepreneurs just need to be careful that they’re using validated exam prep tools that offer the best value.

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