Amanda spent the last several years being a stay-at-home parent to her two children. Now that they are older, she finally has time to focus on herself and her career. Amanda, like many moms looking to reenter the workforce, wonders if she should update her years-old resume or return to school to earn a degree in software engineering. She wants to find a fulfilling career that still allows time for family, but she doesn’t want to break the family budget. We spoke with Shaun Eddy, CFP®, MSFA, AIF® of Oxford Planning Group, to learn more about planning for a career change while maintaining your work/life balance. 

What are some things to consider when making a major career change?

There are a lot of variables depending on your situation. Do you have budget flexibility? You may need a multi-year plan to accomplish your goals. Money is important, but so is finding a rewarding job that improves your quality of life. Consider talking with a career change expert who can help you work through the process.

Are there ways to make your current job more tolerable?

Take time to separate work and home life. Get up early enough to allow yourself time to focus on yourself or your family. Go to work refreshed and with a clear mind. Try to make things more fun during your work day by setting personal goals. Once you get home, spend time with family or do your favorite activities. “Having things you enjoy outside of work will make your work more tolerable and even possibly enjoyable,” Eddy says.

If the career change includes returning to school, how can folks prepare for the additional tuition costs?

There are lots of things to consider before going back to school. First off, start with a plan. Review your budget, and look into financial aid and student loans. Decide if you will try to work while in school. Think about what you can do to cut expenses. Can your partner take the extra financial burden while you are working on your degree?

Do you have any recommendations for entrepreneurs or new business owners?

Managing work-life balance while achieving your financial goals

“I always tell my clients that it’s important to stay healthy, physically and mentally,” Eddy says. Focus on what you and your family enjoy—schedule time to enjoy those activities. Try not to talk about work at home or at least not about problems, if possible. If you need to vent, set a time, but don’t linger on work topics. You and your partner can create rules on how you will help each other stay positive. There is no perfect balance, but figure out what works for you. 

If you need help reaching your long-term career and retirement goals, consider talking to a financial planner like Oxford Planning Group.