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How to Change Careers and Manage Your Finances

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(Exercising Your Mind) By Brad Krause

Are you a woman looking to change careers in Virginia Beach, VA? If so, keep in mind that switching to a new career can include a number of hidden expenses. Relocation expenses, a more costly lifestyle, and higher taxes are just some of the extra expenses you may incur. To avoid unnecessary spending and save money, take time to carefully plan your transition and create a backup plan. You can also use this guide to help you successfully change your career and still become financially independent. 

Create an Emergency Fund

An emergency fund is money saved to cover unexpected expenses. Having money set aside lets you comfortably live for a few months without incurring more debt to cover daily expenses. It’s recommended to save at least 3 to 6 months’ worth of salary for your emergency fund.

To start saving, set aside at least 10% of your monthly salary. You may save up to 20% and build your emergency fund faster by eliminating bad spending habits and by creating a budget. It’s easier to get started on a new career when you have peace of mind knowing you’ll be okay financially even before you secure a full-time job.

Make a Stellar Resume

The first concrete step to getting your dream job in Virginia Beach is to create a clear, concise, and professional-looking resume highlighting relevant experiences and accomplishments. Use a free resume template online to help you create an attractive CV. Canva is a great tool to help you design and create a good resume that attracts clients. Simply choose a template from the library, and add your own copy, images, and colors. 

Consider Working Part-Time First

If you don’t have an emergency fund, start your career change by doing side gigs first. Try to get a feel for your new career path before fully committing to it. Either do side hustles or work as a part-timer, if possible. This way, you’ll still have time to save up for an emergency fund and cover living expenses while simultaneously working on a new career path. 

While you can save money working two jobs, you may find it difficult if you can’t manage your time well. Try to handle multiple jobs at once for just a few months, as this path can lead to burnout. Take breaks and find time to relax to alleviate the stress associated with working long hours. 

Complete a Professional Development Course

Do you have experience in a particular field? If you’ve worked as a medical coder in the past and you want to advance your career, you can take an online medical coding course to help you gain more knowledge about medical coding. Think of it as getting an advanced degree in medical coding to help you assign the correct codes and accurately identify service claims or procedures. Upon completing the course, take a professional assessment to get certified or validate your medical coding skills. 

Planning Is the Key 

Careful planning lets you avoid spending more money and getting into debt when transitioning to a new career. Completing a professional development course and creating a great resume can help you land your dream job. For tips on wealth attraction and managing debt, visit Wealth Attraction Research

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