7 Numbers To Know Before Changing Jobs

Are you thinking about changing careers this year?

If you are, know these 7 numbers before making a move:

#1: Your budget.

Knowing your income and expenses is the first step. (Hint, you should be spending less than you make each month.)

#2: Your net worth.

To find your net worth, subtract your liabilities from your assets.

#3: Your credit score.

A good rule of thumb is to shoot for a score of 740 or above.

#4: Your total amount of debt owed.

Make it a goal to pay it off as soon as possible.

#5: Your “rainy day” fund.

How many months can you survive without a paycheck? A good rule is to have enough in your fund to survive for 3 months. Having funds to survive for 6 months is even better.

#6: Your retirement fund balance.

Are you on track to retire at your desired age? Make a plan for contributing to your retirement fund on a monthly basis.

#7: You financial goals.

Where do you want to be in the next 1, 5 & 10 years? Sit down and do the math, then make a plan that will get you where you want to be.

Knowing these 7 numbers will help you decide if a career change is worth it or not for you right now.

If the numbers don’t add up, I suggest you try to improve these 7 numbers. Then after you have, it may be a good time to consider a career change.

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