Congratulations! If you are thinking about budgeting and the cost of a coding boot camp, you are on the right track to success. Planning in advance for financial costs is essential to ensuring post-bootcamp success. Whether you are in a part-time or full-time coding program, it’s important to account for various costs and save accordingly.
Here are 4 tips to help you stay on budget while attending coding bootcamp:
1. Research financing options before you even apply
It’s no secret that coding bootcamps are expensive. Before even applying to attend a coding boot camp, make sure you look into financing options. If you don’t want to dip into your savings account and pay off the cost upfront, taking out loans will help you get your bootcamp journey started.
2. Apply to scholarships or grant programs
Wouldn’t it be great if you didn’t have to pay the full sticker price? In many cases, you don’t have to. Always be sure to check out the available scholarships or grant programs for the coding bootcamp you are looking into.
For example, here at Hack Reactor, we have a $1.3 million scholarship fund for students passionate about learning how to code. This round we are giving out two general scholarships, one scholarship for the Remote Part-Time course and one scholarship for the Remote Full-Time course. Finalists will receive a partial scholarship to the campus of their choosing.
Pro tip: Scholarships often have different application deadlines, so make sure you don’t miss any of them!
3. Adopt a money-saving mindset
Attending a coding bootcamp will leave you little time to do any work outside of coursework, so you may need to live without income during the duration of your program. Therefore, you need to have the right mindset of saving money, even if it means that you need to change little parts of your routine such as less Starbucks and more home cooking.
Is your morning $5 latte that much better than home-brewed coffee? Should you actually get that $12 salad bowl every day? Alone, these may not cost that much, but if you can save that money instead of spending, it will make a big difference.
4. Set a spending budget
At the beginning of your coding bootcamp journey, write down your budget for things like food, tuition and rent. Planning will give you an overview of your weekly or monthly spending habits so you will never have to panic at the end of the month because you’ve forgotten about utilities.
In addition to planning, make it a habit to track your spending so your money will never “mysteriously” disappear. It also helps you to check how well you can follow your initial plan and set you back on track. Too much of a hustle to carry a notebook everywhere? Amazing apps such as Clarity Money and Mint let you budget and track easily on your phone.
The cost of joining a coding bootcamp can be substantial, but it is also one of the best investments you can make for yourself. With good preparation and planning, you can totally stay on your budget on your way to become a software engineer!
Ready to learn to code? Check out Hack Reactor’s onsite immersive programs, now offered in San Francisco, Los Angeles, Austin and New York City. Not located in these cities? We also have online full-time immersive and part-time programs that you can complete remotely from anywhere.