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Cris Jesus

Financial Reserve for a Career Transition

Making a career transition doesn't have to be AS risky as people think!


It's a rarity today to find a person who is really satisfied with their current job, with their current income. Many are stuck for years in the same situation without the conscience to decide to change. Either they are not prepared to face an increasingly competitive market, or, most of the time, they are not financially able to make a career transition.


More and more I talk about the importance of taking better care of the little or a lot of money we earn and spend. And of course, the profession we choose, the career we intend to follow also need to be part of this care, after all it is usually our only source of income.


The fear of some unforeseen happening can be paralyzing you, and one of my recommendations is to have a financial mattress. Undoubtedly it is a way to ensure more tranquility.


And thinking like this, it is absolutely possible to have more security in your professional changes if you plan.

Start analyzing the factors that need to be considered when making financial planning, to make any change in your career, whether big or small.


If your goal is to make a career transition, know that you will need a lot of courage, planning and a good financial reserve in the bank. Therefore, treat this transition as a project. And, like any project, it will take a lot more than just discipline to put it into practice.


Considering that the average time of replacement on the market can vary from 6 to 10 months, it is important that you have a sufficient reserve so that your basic needs are met during this period.


Assess your financial situation by taking a survey of your expenses, and most importantly, your receipts. Having clear your current spending pattern, categorize by priorities and resize your standard of living in favor of your new project. By doing this, it is possible that you can even accept a new job where the pay is lower than your current job, but which is much more aligned with your life purposes.


Assess how you perform under pressure.

There are people who work very well with shorter deadlines, with a smaller financial reserve, with that idea that things have to go right and they have no other option. These people have the advantage of tapping into that sense of urgency and making a quicker transition.


Other people, under pressure, would do a lousy job and even give up. So, if you don't function well under pressure, you'll need to plan more for the long term and with a bigger financial reserve.

The fact is that if you still don't have a sufficient financial reserve, that has to be your first objective.


There is no career transition without financial reserve!

During a career transition, liquidity is more important than income because it is not immediately known when your monthly income will return to the levels you were used to. Some people think of taking advantage of cash availability to anticipate payments and take advantage of discounts. Contrary to common sense, advance payments are not recommended, even if the discount is greater than the interest received on the financial investment.


I hope these guidelines will help with your financial planning, which is necessary not only to cover professional unforeseen circumstances, but also to meet unexpected, personal needs. Monitor your financial reserve frequently and ensure sufficient income and financial reserve for your daily life, for your family. To give tranquility and autonomy to your career.


Cris Jesus is an Entrepreneur, Consultant, Business Mentor and columnist for Gente Mais Portal.

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