Changing a job always involves some financial changes as well. And they are not immediately for the better. Whether you look for a better position, want to return back to studying for new skills acquisition or wish to become to be self-employed financial reward will not come immediately. That is why taking care of the financial side of the issue is quite important.

• The main thing is that you must have enough money to provide for all your life expenses during the period of job transition. A cash caution of six month should be sufficient to make your job change a safe undertaking. You should, however, be aware that the process of job search may take up to a year or even more, and nobody can foresee how long you will need to go without your salary.

• Before the actual job transition, take care about your insurance. If you have your life insured with the current employer, you may turn to continuing coverage with COBRA. Check any possible retirement benefits or accounts you may have (for instance, a 401(k)). Not to be taxed, insure that you roll over your 401(k) into an IRA account or a similar retirement savings plan with your new employer.

• If you are planning to go back to studying, a student loan may cover some of the costs and help you solve the financial problem. Make sure that your future position must give enough income to relatively easy cover the cost of the loan over time. Besides, the loan should be acquired through some official program for students, which usually offer low loan rates.

• If you plan to become self-employed, you are the one to take care of future income taxes. Previously, this has been done by your employer, now you need to plan the tax payment yourself.