Life of a CFA student is miserable – not necessary!
Enrolling the CFA program will have an impact on your private life and relationships with your friends, partner and family. If you want to successfully complete the program you will have to dedicate a significant amount of time and effort to the learning process. The CFA program is not very demanding in terms of new knowledge, but it takes a lot of time to go through the entire curriculum and solve decent number of practice problems. You will have to spend certain amount of your free time on the CFA program and make clear cuts in your social life.
Although many people will say that if you organize yourself well, you will manage to achieve both personal and professional goals, it rarely happens that you are a successful business man, the best friend always ready to jump in and an incredible boyfriend/girlfriend or a family man at the same time.
On the other hand, it is crucial to find the best possible work-life balance and organize the learning process so you can still spend some time with your friends. The most important step is to “negotiate” certain terms with the most important people in your life, before you enrol the CFA program. You have to explain in detail what does your new obligation mean for them, warn them in advance that you will not be available all the time and get their support. True friends and loving partners/family will understand. Try to negotiate certain number of hours or certain periods (e.g. Friday from 7pm-11pm) in the week when you will dedicate your time to people you care the most about, and don’t cheat. When it comes to family or girlfriend/boyfriend time, relax and dedicate a quality time. This is where TimePrep helps a lot – dedicating regular study time cannot be made easier.
Since you have to dedicate certain fixed and, more or less, consistent blocks of time on a weekly basis you will have to cut some other activities off in order to successfully complete the program. An average CFA candidate works in the financial industry which is known for long working hours. Unless you can spend some time learning in your office, you will have to study after or before work. That means you will have to reduce time you spend on other activities such as sports, going out, hobbies, travelling, etc.
Make a list of priorities, and don’t entirely cut off activities that are very important to you. In addition, get rid of less important but time consuming activities, hobbies and habits – just make a clear cut.
You are a human being and you need support from people you care the most. Their support will motivate you and give energy to push forward through the curriculum. There is no worse thing than to sit and learn while aware of the fact that someone is mad at you since you have not put him/her into your agenda.