A career change isn’t just about deciding what you want to do next, it’s also about making sure you’re financially prepared for the journey.
In this episode Marina is joined by Financial Specialist Ilya Egorov to explore the often-overlooked financial side of career change. Whether you’re intentionally planning a new career direction, considering further study, starting a business or have unexpectedly found yourself out of work due to redundancy, understanding your financial position can give you greater flexibility and peace of mind while you work towards your next chapter.
Ilya shares practical insights into how to prepare financially for a period of transition, including creating a realistic ‘survival’ budget, identifying opportunities to reduce discretionary spending, reviewing and restructuring debt, and thinking carefully about how to use a redundancy payment or other lump-sum entitlements.
This podcast conversation also explores:
- What to consider when you’ve been made redundant
- How to create a financial plan to support your job search
- Why understanding your options early can make a difference
- Preparing financially for a career change or retraining
- How financial pressure can influence career decisions
- The importance of seeking professional advice rather than trying to navigate everything alone
- Why talking to people and building your support network is so important during career transition
- How to stay positive and keep moving forward when the job search takes longer than expected
Whether your career change is planned or unexpected, this podcast episode highlights an important message: giving yourself financial breathing room can give you more choices about what comes next. Whether that means finding another role, retraining, studying, starting a business or taking time to work out your next direction.
A valuable conversation for anyone who has recently been made redundant, is worried about potential job loss or is considering a career change, this episode offers a reassuring reminder: you have options, and preparing for the transition can help you make better career decisions.
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I am a passionate Career Coach who works with individuals in the explore and search phase of their career journey, helping you realise your strengths through my career coaching and training programs. I enjoy showing people the path to greater career satisfaction and providing insight and tools to help you make your next career move.
