Making the switch: What you need to do when you are switching careers

Ok, we get it. You are tired of your mundane routine and you feel that you are no longer growing your career after x number of years in the same office or industry. Although the thought of getting off the board and explore the other side of the fence is scary, you decided to go for it anyway. But are you ready for the big switch? 

If you still have qualms on making a career switch because you’ve been stuck in your comfort zone for too long, you might consider doing these things before starting job hunting:

Update your CV


By this time, you have a lot of work experience that could fill up pages of your resume so it is the right to make a resume upgrade. Be mindful though to tailor-make your CV to specific skill sets to the new industry or career path you are aiming at so you can have a concise, put together document to send out. And since you are doing the update on your CV file, you might as well update your professional social media platforms such as your LinkedIn. 

Update your technical skill set


Job market is the new jungle nowadays and competition is tough especially with so many young, emerging professionals coming to the workforce day by day. It is advisable then to up your career game by getting a skills upgrade specifically in the field of information technology. You can choose to enroll in short courses or ask young members of your family to teach you some basics on some sought after skills like coding.

Dress for your age


Always make a good impression by dressing appropriately when you apply for a job. You should know by now that specific industries requires specific dress code so be presentable when you go for interviews. 

Your extensive experience is your advantage


It is always intimidating to attend job interviews especially if you do not do it for a long time. But you always need to remember that you are no longer an entry-level applicant now and you can make those past job experience work to your advantage. If you are applying for the same position but in different industry, make your experience stand out. Chances are, most employers will prefer an experienced candidate who can contribute immediately to the company rather than the entry-level applicant that they still need to train.

Make your professional connection work


You’ve been exposed to many people throughout your career. Now is the time to put those professional network to your advantage. Schedule a consultation with your professional network. You can email them or invite them for a cup of coffee. Make them know that you are currently considering to shift career and ask them if they can give you a referral. Who knows, you could end up getting your new job from them.
 

So don’t be afraid of change. If you think that it will advance your career make the switch but always remember to do it right. 

20K and Counting: Ways to Grow your Php 20K

What will you do if you have Php 20,000 in your wallet? 

Nowadays, Php 20,000  not a fairly big amount in terms of purchasing power unlike several years before.But if your are wise enough, you can grow this Php 20k over time. All you need you neec to do is to know where to invest it. Not sure where to put it? Here are some tips to invest your 20k smartly:

Start a small business


With a 20k capital, be your own boss and start your own small business. There are a lot of business ideas out there to choose from ranging from food to fashion to service. With the advent of the internet, you don’t need to rent a commercial place in order for you to showcase your products and reach potential buyers. In order to become successful in growing your Php20k to unlimited income you need to consider these things (1). start a business that you are passionate about and (2) offer good quality products and at par customer service.

Set up an emergency fund


Most of us are guilty of not considering putting up an emergency fund for rainy days. If you have not set up one yet, your Php 20,000 is a good amount to start it up. Set  a time deposit for your fund and religiously grow your savings until such time that you are confident enough that you have enough money to cover your three month expenses just in case something happens to you or you suddenly lose your job. In this way your mind is at ease that you have something to fall back just in times of dire financial needs.

Invest in UITFs or Mutual Funds


Many people are afraid to invest in the stock market because of its volatility and are afraid that they might lose their money in the long run. However, if you want to grow your money exponentially, stock market is one of the best ways to do it since the percentage of yield is higher than bank interests. You can choose to put your money in a unit investment trust funds wherein your money is being managed by financial managers and are invested in stocks deemed to yield high percentage of return fo a period of time. Or, you can pool it in mutual fund and choose the stocks to invest in. 

Build your retirement fund


We do have the government sponsored retirement plan program like the SSS and GSIS but it is always nice to have a retirement plan of your own to look forward to when you finally quit your job. Many banks and financial institutions are offering retirement plan programs for a surprisingly small amount of money. Start your retirement plan now and enjoy your golden years without worrying about money. 

Invest in yourself


One of the best investments is to invest in yourself. Enrich yourself with new knowlegde that you can use to advance your career. Or you can always learn new things that you can use in the future like new hobbies. 

There is no big or small amount if you set your heart and your mind to grow your money. You have many options out there. All you need to do is to start doing it.