Empowered Planning Blog

3 Financial Considerations Before You Make The Leap

Whether you’re starting your own business, changing careers or , you may be presented with a bump in pay or the tough choice of taking a step back in salary. Before you take a leap of faith I want to give you 3 financial considerations because hindsight can be 20/20. Don’t worry, I got your back!

Monthly Cash Flow

The first thing to consider is the pay increase or pay cut you’ll be taking. I often hear people say they'll save more money when they're making more money. But more often than not when you start making more money, you find ways to spend it- I'm totally guilty of this! Here are some examples, you move into a nicer place or get the new car you’ve been waiting for so, the list goes on! Any time you have a change in income, it’s a great practice to pause and look at your monthly spending and set guidelines on what you’ll do with this extra income. Click here to find out more...