The largest hurdle to obtaining a new career comes from the financial region of our lives. We have mortgages or rent, as well as other bills we must pay for. If you have a family with children there is even more to consider than when you are single. A single person tends to be free to make changes in their lives such as moving for the new career or going back to school.
Before we look at financing your new career, let’s consider a few things. In today’s world it is easier to change careers. There are distance learning courses, online training, part time training, and much more. There are even portfolio careers in which your experience can speak for itself in regards to a new career. Even starting a new business as your new career is easier than it has ever been, thanks to the internet.
When you are at the point of financing your new career change you already know what you want to change to. You know the type of training you will need, the hours that are needed, etc. So what can you do in order to finance the new career?
You can borrow the money you need. If you own your home you may seek a refinance option to take out some of the equity you have built up. You may also decide a student loan is the best option. There are student loans through a number of different institutions that you can gain. Direct.gov.uk websites have a listing of the loans and grants you can obtain to finance your career. The amount you are awarded will vary on what you need to borrow. They also have scholarship options you can try for. Child care grants, parent’s learning allowances, and much more can be borrowed.
We have mentioned grants already, but here are some other places to find grants:
– Grants For Individuals.Org.Uk
These sites have grants and loans to help you find money to finance your new career.
If a loan or grant does not work there are other options. Raising money can be easy. Angelsden.com is a site that provides information on how you can raise money for opening your own business. Government and sponsorship programmes exist to help you raise money for starting a business or change in career.
Something that we have forgotten as technology advances is earning the education you need. There are apprenticeships available that help you learn while you are on the job. They may not pay as much as a fully trained person would earn, but you are still getting the training and earning a salary. Your employer may provide the necessary training if you ask for it. This is especially helpful if you want to advance in the business you are in now, but change career paths. Sometimes a new career is about a different position within the same company. For example, a person that works as a customer service representative may want to move up the ladder to a management position. Your employer can help you finance this move.