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Preparing for Life Events

Life has a way of interrupting your financial plans, and adding additional burdens to your personal finances. Somethings, like college or retirement, are natural part of life. However, other life events that happen are out of your control and put you in situations that can drastically affect your personal finances. Don’t let yourself be overwhelmed by a financial crisis. Be prepared to deal with life events by browsing through our articles or downloading booklets from our library.

Employment

Surviving a Layoff

Job Search Strategies

  1. Review yourself. You’ve had job evaluations in the past. Now it’s time for you to evaluate yourself. What are your skills? What have you most enjoyed in your past jobs? What didn’t you like? What would you like to do more of? Spending some time in reflection may help you think of new jobs or careers you’d like to try.
  2. Prepare the paperwork. You’ll likely be filling out a lot of applications, so gather your information together. Where did you work, and when? What were your job duties and accomplishments? You may want to put all this information, perhaps in a resume format, so you’ll have it if you need it.
  3. Review your credit report. Most employers these days conduct a background check, and that often includes a review of the employee’s credit report as well. Check yours in advance to make sure it’s correct and up to date. Several free booklets in Consolidated Credit’s Learning Center will help you understand credit reports and scores, and fix mistakes.
  4. Keep your eyes open. Personal references are the best way to find and get a job. So contact everyone you know for ideas and suggestions of potential jobs and employers. Ask if you can use their name when contacting a referral, and don’t forget to thank them afterward.
  5. Go on a hunt. Look for jobs online, in your local newspaper, and through local employment agencies.
  6. Visit the library. Your local library should have a large number of books that can be helpful for everything from writing a resume to figuring out what you want to do next. Changing Careers for Dummies by Carol McClelland and Cool Careers for Dummies by Marty Nemko are just two examples.

Be Smart!

Be very careful about providing personal information to a prospective employer over the Internet. Some identity thieves have used fake job openings to gather information about consumers. These job postings can appear very legitimate. Before you provide personal information over the Internet, call the company through a published number and verify that the job posting is legitimate.

  1. Prepare for job interviews. Choose clothing you want to wear to interviews and ask for feedback from family members or friends. Practice answering interview questions. Pull together documents you’ll need (generally your driver’s license and Social Security card).
  2. Consider a career change. If you worked in an industry that is declining or sending jobs overseas, you may want to consider a career change. Before you do, however, see if you can find a way to work or intern in some capacity in that new field. You don’t want to spend two years becoming a medical assistant, for example, only to learn you don’t like working with patients!
  3. Start your own business. Your own business could be a way for you to shift gears and earn good money doing what you choose to do. But it’s also very risky. Most new businesses don’t make it through the first two years. So if you are going to start a new business, choose one with a solid track record and get advice from others with experience. Consider temping and starting your business on the side until it takes off. Unless you have plenty of money in savings and investments, now is not the time to take a chance on an unproven idea.
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