Switching jobs is usually associated with a bump in pay, and therefore more financial freedom. That said, it’s often surprising when a new job derails the budget by introducing surprise expenses that weren’t considered in the job description.
Wouldn’t it be great to have a crystal ball to look into the future and see costs before they surprise you?
Get All Worked Up
The trick is to anticipate a ramp-up period. At your old gig, you likely had some seniority, influence or clout. Unfortunately, your new team won’t know how much value you bring to the table until you get a few projects under your belt. That respect may take months, even years to earn, but better pay often follows.
This means you might not get the take-home income that you originally signed on for, and that can be discouraging --- unless, of course, you’re prepared. In addition to your emergency fund, start saving now so that you have a financial cushion to soften the blow ramp-up time can bring.
Not sure where to start? Thankfully, we’re here to help. Here are 4 ways to prepare financially for a new job.
Changing jobs is often a great move financially, and you’ll likely be happier once you settle into your new groove. Until then, stay on your toes. Stick to that budget, stash away more than usual, and brush up on professional certifications.
Consumer Education Services, Inc. (CESI) is a non-profit committed to empowering and inspiring consumers nationwide to make wise financial decisions and live debt free. Speak with a certified counselor for a free debt analysis today
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Consumer Education Services, Inc. (CESI) is a non-profit service provider of comprehensive personal financial education and solutions for all life stages and for all of life’s milestones. Our goal is enhanced economic security for everyone we serve.
CESI is NOT A LOAN COMPANY