Tuesday, December 11, 2007

Staying Afloat While Switching Careers

Guidance with career transitions is a staple of the career advice business. For many switchers, however, one of the highest hurdles has nothing to do with jobs or skills; it is simply how to survive – as in, meet your essential living expenses - while going through the transition.

New York Times columnist Marci Alboher relays some helpful tips this week, through a Q&A interview with financial adviser and writer Jean Chatzky. Her advice is equally applicable to individuals aiming to launch their own business, or those planning a career shift.

In a nutshell, Chatzky recommends practicing frugal living long before leaving your current job (so the shock to your lifestyle won't be so great when you do), making a habit of saving, and keeping some form of health coverage to escape pauperization in case you're hospitalized while out of work. There are also tips about where and how to seek credit for a new venture.

Finding the Money to Move Out and Up [New York Times]

No comments: