Ok, I’m biased in this. I would suggest you start a business. But I would come off as fake, since I do have a university degree.
In these tough economic times, the value of a university (or college) degree is highly debated. Some people say you don’t need a degree (here and here). And there are also articles and studies saying a degree is (still) the best investment you can make (for example, here and here). [For the latter article, I would add that you be careful of the word "average" being thrown around. Because you read my blog, I would suggest that you're more than just average.]
DISCLAIMER: The Singapore education system might be different from the system you have in your country. I can’t even tell you if the Singapore system as of writing now is the same as what I went through.
Should I buy the steel sword now or later?
In the role-playing video games I’ve played when I was younger, I would arrive in a town and I’d be immediately broke. I’d go buy the best armour and weapons money can buy. Inevitably, the game designers made it such that it’s highly unlikely you would have enough money to buy every single piece of best armour and weapons for your character(s).
Now you have a decision to make.
“I don’t have enough money. Should I buy that bronze sword now so I can continue with the adventure? Or just tough it out until I reach the next town, where I can buy the steel sword for just a little bit more money?”
That degree you’re thinking of getting is that adamantium sword. And it’s available for purchase about, oh, 8 towns later. You better tough it out…
A degree is traditionally considered the be-all-end-all. Once you have it, you’re set for life. It’ll open doors for you in the corporate world. People judge you (highly?) based on a piece of paper that you have. Job recruiters screen you based on the type of degree you have, looking for computer science degree graduates even though someone with a bachelor of science (majoring in applied mathematics and computational science) is just as qualified *cough*.
There is always another sword better than whatever you have (even adamantium). It doesn’t happen in games because they’re finite. But in real life, there’s always something better you can have. Maybe a professional certificate in something. Certifications by Microsoft, Oracle or any company/organisation that’s respected.
Don’t waste your freedom
Through my primary school, secondary school and junior college days, I had to wake up early and be at school by 7:30am. School ends sometime in the afternoon, where I might have extra curricular activities.
When I was drafted into the military, I was told when I had to wake up. I was told when and what to do in my waking hours. And I was told when to go to bed.
When I started at a job, I had to be in the office at 8:30am. I could only go for lunch between 12 noon and 2pm, and only for 1 hour. I could only go home after 6pm.
I only had freedom of time when I was in the university (and now, when I’m working for myself). When I was in university, I typically took about 20 credits per semester (about 5 classes), which was about 20+ hours of lectures and tutorial work. The class timings were still fixed, but for the first time in my educational life, I had some degree (no pun intended) of freedom. I could choose which tutorial classes I wanted to attend. I could plan my time each week and even each day.
So if you’re looking for advice, I suggest this: Go to university/college and get your degree if you can (keeping the cost of time and money in mind). But start a business while you’re there.
Don’t give me that cranberry about not having enough time. Even if you stretch it, lectures and tutorials only consume up to 30 hours per week of your time. You still have 10 hours more per week than if you’re working full time! Make use of that.
Don’t drink (alcohol). Don’t do drugs. Don’t party (too much). Don’t smoke.
I get that this period of time might be liberating to you, but it’s also the time where your self-discipline is most tested. I’m not saying you can’t have fun. But if you can’t hold yourself accountable now, your future work at a job is going to suck cannonballs.
You have a huge university debt the moment you start. Don’t wait 4 years before struggling to find a job that pays enough that you can repay that.
If the statistics are true, most small businesses fail within 5 years. You have 4 years in university. Start failing then.
You can either start your own business and have some control over your future. Or you can work at a company where the company controls your future.
If you’re reading this, I assume you’re either a mathematician, a scientist or a programmer. Start a business. Get a degree. You’ll probably do fine either way. Even better, start a business while you’re getting your degree.