Ep234: How to take a career break (without going broke). Part 2.

#CorporateSurvivor

In this episode, Mei Phing discusses the essential financial planning for a career break, emphasizing how to ensure stability while pursuing personal time off. She also shares two strategies you can focus on today so you will have the financial backing and freedom to take a career break in the future.

Highlights

00:00 🏖️ Career Break Planning: Consider duration and financial needs before resigning.

03:50 💰 Budgeting: Calculate monthly expenses to avoid financial stress during the break.

06:30 📈 Income Growth: Actively seek promotions or salary increases to build savings for future breaks.

10:50 🔄 Long-term Strategy: Develop skills and confidence to secure better job offers and promotions.

12:05 💻 Corporate Skills: Focus on mastering fundamental corporate skills for career advancement.

17:15 📝 Peace of Mind: A well-planned financial strategy ensures a stress-free career break.

Key Insights

💡 Duration Awareness: Knowing how long you intend to take off helps in budgeting effectively, preventing financial strain during your break. Clarity in timing allows for better financial planning.

💡 Expense Calculation: A detailed assessment of monthly expenses, including rent and bills, ensures you have a clear understanding of how much money you need to sustain yourself, reducing anxiety.

💡 Career Growth Importance: Continuously growing your career and income provides a financial cushion for unexpected breaks, making it essential to seek out promotions or new job opportunities regularly.

💡 Fundamental Skills: Building a foundation of corporate skills enhances job performance and recognition, leading to increased salary potential and more opportunities for career advancement.

💡 Inner Confidence: Confidence in your abilities allows for better communication during salary discussions, making you more deserving of promotions and increases.

💡 Avoiding Job Hopping: Regularly changing jobs without mastering the role can hinder long-term career growth; stability in roles leads to better recognition and development.

💡 Proactive Financial Planning: Planning ahead for potential breaks can alleviate stress and allow for a more fulfilling personal time off, ensuring financial stability during transitions.

Heyyy - I'm super excited to help you GROW!

What's your biggest insight from this podcast episode?

DM me on LinkedIn or Instagram & let me know - I'd love to hear from you 😊

— Mei Phing

🔥🏆🚀

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See you super soon! 😎

— Mei Phing