Career Transition Challenge 1: Financial Stability During Transition
In many ways, our emotional and mental health is tied to our financial well-being. Does this ring true for you? The need to remain financially stable so you can pay your bills and maintain your lifestyle is vitally important to everyone. And, it can be a challenge that singles feel more acutely than those who have someone to lean on financially. Depending on an individual’s financial situation, this is a considerable challenge for both men and women.
During a career transition, you may have to cut back in some places where you’re used to spending and, instead, invest time, money, and energy in other areas you may not feel comfortable with just yet. This cutting back may not sound like fun at first (it didn’t to me!) and it may feel unfamiliar. Just trust that any sacrifices you make to have a career you love are going to be well worth it in the end. I’m speaking not only from my own experience, but from my experience with clients who have succeeded in their career transitions using the same tips and methods you’ll be applying to your own.
To help you remain financially stable during your transition, start by making small sacrifices one at a time. This way you’ll become more comfortable with financial adjustments over time. I don’t recommend slashing your spending drastically, doing so could cause a sense of deprivation
which will make you unhappy. Too many large cuts too fast will not help. Your energy level and attitude are going to suffer, and you’ll have more trouble remaining positive and focused. Instead, start small and choose sacrifices you can live with, knowing you don’t have to give these things up permanently.
Commit to something small, like eating at home every night during the week to save money you might otherwise spend dining out. And while you’re doing this, keep in mind that you are not giving this up forever. You will be able to eat out as often as you like once you’ve made your transition.
Believe me, once you get a better handle on your finances the rest will fall into place more easily. Even the smallest sacrifice, such as the example of eating at home more, empowers you because you can measure the results right away in the money you save—savings you can put toward your transition.
You can and will get through it.
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