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put together financially for a job change

It was precisely at this time of imprisonment that many workers were looking for new employment opportunities.

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20, 2021

5 min read

This article was translated using AI technologies from our Spanish edition. Errors can occur as a result of this process.

By: Francisco Rodríguez, Chief Growth Officer at albo

Some of our customers are asking us for help financially preparing to change jobs in times of a COVID-19 pandemic. Let's look at some recommendations.

As a background we have that in Mexico the turnover rate is 16.75%, the highest in Latin America, and the restriction left a balance of 647 thousand 710 jobs in 2020, of which 560 thousand 473 were formal and 87 thousand 237 were temporary. according to the latest figures from the Mexican Social Security Institute (IMSS).

After the decline in jobs, there was a slight increase with the creation of 555,000 600 jobs from August to November 2020. In December, 277,000 820 formal jobs were lost. According to the IMSS monthly formal employment report, 3,372 jobs were lost in January 2021 while only temporary jobs were created. This means that these are fixed-term contracts.

It was precisely at this time of imprisonment that many workers were looking for new employment opportunities. At that time, many professionals were thinking about various aspects of their life, such as: Professional, academic and personal, which can lead them to make important decisions such as: B. change jobs, change their career plan or complete an apprenticeship.

If you decide to change jobs for a variety of reasons (poor work environment, low salaries, poor performance or long hours, including a lack of education), the problem you face is how to manage your money wisely so that your finances don't get hurt.

At albo, the digital financial experience specially designed for a simple lifestyle, we always see how we can support our clients with tools that allow you to manage your money intelligently.


1. Financial planning

Skilled workers change jobs five to seven times in the course of their lives. This means leaving your comfort zone to face something new. Before making a decision, analyze your financial situation and how it can be influenced. So be prepared to create your budget. Take a piece of paper, your Excel, or a note-taking app and write down all of your commitments so you know exactly what the cost of changing jobs is.

2. Separate money into spaces

To achieve your mission, look for an app that has tools to help you achieve your goal. It is a good idea to cut costs and use & # 39; Spaces & # 39; from albo so that you can separate money from your account for your fixed expenses such as rent, electricity and water so that you are prepared with the capital you need. Make healthy financial decisions, such as: B. Cut down on home spending like ants or vampires, and look for promotions or discounts so you can gradually start adding to your account. Finance your job change.

3. Use mobility

Finding a new job takes time and paperwork, but you don't want to go to a branch office to perform cumbersome processes and even more so when there are advanced mobile apps like albo that allow you to do everything from your phone. Every peso won is a saved peso and even better, more experience on your resume.

4. Create a custom resume

"Sell" yourself, apply on paper or video to set yourself apart from the aspirants. Prepare a resume and cover letter highlighting your skills. Identify your skills from previous jobs that you can leverage and creatively adapt them to the new position. It is also a good idea to invest in expanding your knowledge through courses, certifications, etc. Talk to people you know, register on job portals and online professional contact platforms to promote your resume, and create a LinkedIn account if you don't already have one.

Changing jobs can be a difficult task, but it's not impossible. So don't be discouraged because the sooner you start, the sooner you will find the job you are looking for. We know it's challenging, but set goals and manage your money wisely to live without financial complications during the search period. Changing jobs is not a trivial decision, but before you decide whether or not you want to change on an opportunity, the first thing you need to ask yourself is whether we are financially secure and ready to conduct this search.

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