Changing careers is exciting but financially risky. Here's how to prepare.
Before You Quit
- Save 6-12 months expenses
- Pay off high-interest debt
- Research new career salary ranges
- Calculate training/education costs
- Consider health insurance gap
Training Period Budget
If you need education or certification:
- Tuition and materials
- Reduced income if working less
- No income if full-time student
Entry-Level Reality
Starting over often means:
- Lower initial salary
- Fewer benefits at first
- Smaller 401k match
- But: long-term potential growth
Track Every Transition Dollar
During career change, tracking is essential:
- Know your burn rate exactly
- Adjust spending in real-time
- See how long savings will last
Start Tracking Together
Download Pocket Clear free. Simple expense tracking for couples and expats.