
Plan It
To start this process, do a copious amount of research into your new career field. And then do even more research. This should be an honest examination of what it would take to move into this field, including the potential salary and the potential costs:- Do you need extra education, training, or certifications?
- Does your new role have any large upfront expenses (Offices, equipment leases, mortgage financing, zoning, etc)?
- Will you lose benefits, or have to pay more for them?
- Do you need to hire and train staff?
- Will you need additional insurance to protect your family?
- Do you need to move?
Live It
Once you have a realistic idea of what you can expect to earn with your new career, live that budget for at least 3-6 months. Sure, some easy items that most people can start with include:- Eating out less
- Skipping the fancy coffee shop
- Fewer trips or taking staycations instead
- Canceling services you don’t utilize or don’t really need e.g. streaming services, music memberships, gym memberships, cable television, magazines, etc.