Paying for Exams ($10,000) - What Is The Smartest Way to Spend Money for Such a High Unavoidable Cost

LKamsta on 04/08/2018 - 13:08
Last edited 04/08/2018 - 13:36

Hi Ozbargain Community,

I have a quick question for everyone. I work in a field where we often have multiple exams with very high fees. Very soon I'll be spending almost 10 000 dollars on exams.

I have seen a few credit card deals on Ozbargain.

My question for the community is - given I have to spend the money anyway to sit these silly exams, what is the best way to do it to maximise ancillary benefits.

Would you recommend a deal in particular for credit cards, or would you have another way in which I could spend that amount of money and slightly lessen the sting (these exams are hard enough without the extra pain of paying that amount of money).

Note - the 10 k will be paid for accross three exams so yes separate credit card deals are possible. Is there a particular combination you may go for?

Many thanks for any advice.

Financial Credit Card

Comments

  • [Deactivated] on 04/08/2018 - 13:42
    +2

    Can't help you with credit questions but really curious about which industry has these expensive exams?

    • Kamsta on 04/08/2018 - 14:04

      These are college exams to finish training as medical professional. As trainee doctors we're all quite dumbfounded by how much we pay!

      • [Deactivated] on 04/08/2018 - 14:07
        +1

        That's OK then. I guess you will be on 300k plus some time in the next 10 years.

        • Kamsta on 04/08/2018 - 14:12

          I wish that were the case!

      • bcarp on 04/08/2018 - 14:38

        $10k? You got it cheap! My final exams 10 years ago were $16k! Followed by a year of overseas training which cost me $100k unpaid. And you can't claim a tax deduction when you have no income.

        • darkb on 04/08/2018 - 14:56
          -6

          Just like how the current generation lack resilience right?

      • AusGP on 04/08/2018 - 15:38

        I assume these are GP exams? 10k is cheap in the overall scheme of things. I spoke to a current RACGP examiner and the pay doesn't sound that great, but there are multiple rounds of question writing and checks in place to ensure the validity of questions, hence why it ends up being so expensive.

  • Seedy seed on 04/08/2018 - 13:49

    Will you be paying the minimum repayment because then be much more by time you pay it off… If your industry needs these exams will your employer foot some or all of the bill?

    • Kamsta on 04/08/2018 - 14:05

      Thankfully I have saved a little bit and do have the money to pay these exams. But instead of just paying as a direct debit I thought I could possibly be a little creative and get some extra rewards. I wish our employers did pay, but unfortunately they do not. I will tax deduct though.

  • AusGP on 04/08/2018 - 13:59
    1. Sign up for a credit card that has a high bonus (and minimum spend will be easily met)
    2. Ideally have a credit card that has high points earnt per dollar
    3. Claim as a tax deduction in a year with high income ideally but not sure how well you can time the payment
  • SnoozeAndLose on 04/08/2018 - 14:01

    the problem will be do you have enough income to get the credit card.

    like ANZ and wespac credit limit is $15000 there fir if you get both you should 200,000 QF points with $9,000 spend

  • p0o0ohbear on 04/08/2018 - 15:03

    I would have paid in excess of 20k for my training … . (did you omit the yearly training fee? :))

    Use Amex Explorer - 2 amex pts / dollar. Most of the fees can be paid via amex.
    Never pay by debit. You get nothing back other than a receipt …

  • this is us on 04/08/2018 - 15:37

    If possible, I'd recommend getting a credit card using one of that "free frequent flyer points" deal. I'm paying 10k for some similar stuff and was able to negotiate two payments of 5k, one now and the second in October. I've ordered the ANZ FF Black weeks ago and used it for the first 5k (first transaction) to guarantee the 75k points.
    I'm thinking of ordering a second card using my partner's name to pay for the second 5k, in October (we haven't ordered any credit cards in the last 2 years). I have AMEX Explorer, which is my primary CC, but this place doesn't accept AMEX, only MC or VISA. Never ever use debit (unless you don't have the money, which fortunately is not the case).

  • [Deactivated] on 04/08/2018 - 16:15
    +3

    Jeez, is that a live organ harvest or something.

  • Hirolol on 05/08/2018 - 09:00

    Just search for qff and mark no expired deals and apply.
    I plan to do something similar so would be interested if there’s a better way

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