How to Plan for a Great Career Change for Your Family’s Financial Security

Hey there, fellow moms! So, you’re planning for a career change, huh? I get it. Whether it’s for a better paycheck, more fulfillment, or just a change of scenery, shifting gears professionally is a big move. But here’s the deal: it’s not just about us anymore, is it? We’ve got little ones looking up to us, depending on us.

That’s why today, we’re chatting about how to plan for a career change with an eye on your family’s financial security. It might sound daunting, but don’t worry—I’m here to break it down for you, momma-style. Let’s navigate this journey together, ensuring we’re making smart moves not just for us, but for our kiddos too.

Ready to dive in? Let’s get started.

moms planning for a career change



Why Consider a Career Change?

Alright, let’s talk about the big question: Why shake things up and consider a career change? Think of it this way—life’s too short to be stuck in a job that doesn’t light you up inside. Maybe you’re dreaming of a role that not only pays the bills but also sparks joy, offers better work-life balance, or aligns more closely with your values.

Financial Security

And let’s not forget about financial security. A career change could be the ticket to a bigger career growth and a more stable financial future for your family, allowing you to save for college funds, family vacations, or just a more comfortable day-to-day life.

mom on a wheelchair planning for a new career


Personal Satisfaction

It’s about crafting a life that feels fulfilling on all fronts—personal satisfaction and financial stability. Plus, showing your kids the value of pursuing their dreams and the importance of financial independence? Priceless.

So, why consider a career change? Because you and your family deserve a future filled with happiness and security. Let’s make it happen!

But remember, as FlexJobs said, “Having a comfortable financial cushion to fall back on when changing careers is ideal if you can manage it. But the reality is that most of us can’t cover our expenses while we exclusively pursue our dream job. Steadying your financial course so you can afford a career change is absolutely essential if you’re in the market for a new job.”

Self-Assessment: Taking Stock of Your Skills

So, where do we start on this grand adventure? By taking a good, hard look in the mirror—but instead of checking out our reflection, we’re diving deep into our skill set and professional life. Think about it: all those years of managing a household, juggling schedules, and maybe even previous jobs and professional backgrounds have equipped us with an arsenal of skills.

We’re talking about time management (because getting everyone out the door on time is no small feat), problem-solving (hello, last-minute science projects), and perhaps a sprinkle of crisis management (ever dealt with a toddler meltdown in public?).

mom with a graduate degree, planning for a career change


Transferrable Skills and Experience

But here’s the kicker: many of these skills are transferable. That means they’re valuable in a whole range of careers, not just the one you’re eyeing or the one you’re trying to move away from. So, grab a cup of coffee, sit down, and make a list. Write down everything you’re good at, no matter how small or “irrelevant” it might seem. You might just surprise yourself with how much you bring to the table.

Identifying New Career Paths

Now that you’ve mapped out your skill set, it’s time to plot your course to new horizons. This part’s exciting—it’s all about dreaming big and imagining the possibilities. But where do you even start?

First, think about what gets you excited. Is there something you’ve always wanted to do but never had the chance to explore? Maybe it’s a passion for design, a knack for writing, or a love for helping others.

Then, it’s market research time. Dive into the internet, talk to friends, or even reach out to professionals in fields you’re curious about. Your mission is to understand what opportunities are out there and how your unique skill set can fit into them.

Remember, the goal is to find a path that not only pays the bills but also feels rewarding.

Figure Out Your Opportunity Costs

And let’s not forget about the practical side—consider the job market, potential earnings, and what kind of training or education you might need. Do you want to have a new day job? Do you want to go to business school?

It might sound like a lot, but remember, this is about building a career that supports your family’s dreams and your personal fulfillment.

moms talking about meaninful career transitions


So, let’s get curious, explore without fear, and open the door to new career transitions that align with your skills, passions, and financial goals.

As Randy Cass said on LinkedIn, “If you’re thinking that your switch is going to be easy, because you don’t need to go back to school, stop for a minute to consider how long it will take you to be up and running in your new careers. Especially if you’re starting a new business or becoming a freelancer, it may take two or three years before you’re earning the amount that you estimated in Step 1 that you could.”

Setting Realistic Goals

Alright, it’s time to get real with ourselves. Setting goals is like plotting points on a map; it gives us direction on this career transition journey. But here’s the thing: we’ve got to keep these goals realistic.

Imagine saying you’ll climb Mount Everest next month without any training—sounds a bit out there, right? Same goes for career changes.

First, let’s break it down. What do you want to achieve in the next three months? Maybe it’s updating your resume or completing a short course. Then think about where you want to be in a year. Perhaps landing a job in your new field? Setting these markers helps keep us grounded and focused.

moms talking about positive company culture


And remember, life, especially mom life, is full of surprises. So, while aiming for the stars, let’s keep our feet on the ground, planning for the unexpected. This way, we can adjust our sails as needed without losing sight of our destination.

Saving for the Change

Now, let’s talk money. Switching careers isn’t just a professional move; it’s a financial one, too. Before we dive into the deep end, we need to build our financial life raft. Saving for the change is like packing snacks for a road trip—it’s essential for keeping everyone happy along the way.

Start by looking at your current expenses. Where can you cut back? Maybe it’s dining out less or pausing that gym membership you rarely use. Every little bit you save gets you closer to your goal. Then, set up a separate savings account for your career change fund. This isn’t just any savings—it’s your dream fund, your safety net for when you’re ready to take the leap.

Side Hustles

And don’t forget about other income sources. Maybe you’ve got skills or hobbies you can monetize on the side. Every extra bit helps fill up that career change piggy bank. Remember, this isn’t forever. It’s a temporary tightening of the belt to give you the freedom and security you need to make your career change a success. So, let’s get saving, and make this dream a reality!

a mom planning on a new career


Save, save, save

As Forbes said, “Savings can allow you to take sabbaticals, periodically cut to part time work, or totally change to a new career. These changes can keep you working happier and longer. It is healthier to work as long as possible in jobs that create satisfaction, financial peace, and keep your mind and your body active.”

Updating Your Resume

Alright, career changers, it’s time to talk about giving your resume a little TLC. This isn’t just about dusting off the old document and adding your current job.

It’s about showcasing the amazing skills and experiences you’ve accumulated—yes, including those incredible multitasking and problem-solving skills honed through motherhood. Think of your resume as your personal billboard, advertising all the reasons you’re a catch for your new career path.

First up, tailor your resume to the job you want, not the jobs you’ve had. Highlight transferable skills that speak to your new career aspirations.

  • Got experience in budget management from running your household finances? That’s gold.
  • Organized the school fundraiser and knocked it out of the park? Showcase it.
  • Every skill you’ve honed over the years, from communication to leadership, deserves a spot.

mom knowledgeable on computer science


And don’t forget about the power of keywords. Many companies use software to screen resumes, so make sure yours speaks the same language as the job posting. Your negotiation skills will already be put to test here.

This means customizing it for each application, but trust me, it’s worth the effort. A well-crafted, personalized resume is your first step through the door of your new career.

Managing Family Expectations

This one’s a biggie, ladies. Embarking on a career change isn’t a solo mission—it’s a family affair. And that means setting the stage at home for what’s to come. It’s all about communication. Sit down with your partner, your kids, or whoever makes up your support system, and have an honest chat about your career goals and what this transition might look like.

Explain why you’re making this change and what it means for the family, both the good and the potential challenges. Will there be late nights studying? A tighter budget while you’re between jobs? What about day-to-day responsibilities?

It’s important to paint a realistic picture so everyone knows what to expect.

mom with down syndrome looking for a new data science career


How to Create Your Career Change Budget

  1. Track your monthly expenses.
  2. Pay down debt.
  3. Build an emergency fund.
  4. Stick to a career change budget.
  5. Find a side hustle.
  6. Prioritize your health.

The Positives

But it’s not just about bracing for the tough times. Talk about the positives, too! Maybe your career change means more flexibility to be at home with the kids or a better financial situation in the long run. Getting your family on board not only provides you with the support you need but also helps everyone adjust and rally together through the changes.

Remember, managing expectations is about teamwork. Involve your family in the journey, celebrate the small wins together, and keep the lines of communication open. This way, you’re not just working towards a new career—you’re strengthening your family bond, too.

mom thriving on a new career


To Wrap Up

And there you have it, supermoms—your roadmap to navigating a career change with your family’s financial security in mind. Remember, this journey is as much about courage as it is about planning. It’s about believing in yourself and the brighter future you’re building for your little ones.

Sure, there might be bumps along the way, and yes, it’ll take some serious mom-power to get through, but hey, if anyone can do it, it’s us. Keep those goals realistic, your spirits high, and always, always communicate with your family. Here’s to your successful career change, may it bring you not just financial security, but joy and fulfillment too.

Don’t forget, we’re in this together, and you’re doing an amazing job. Keep rocking it, momma!

Kathy Urbanski

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