Sunday, June 26, 2011

You Landed a Job! What’s Next?



An article in The Dallas Morning News in the June 26, 2011, issue, “In Recovery Mode” by Eileen Ambrose of the The Baltimore Sun, provides financial suggestions to individuals that have become employed after a lengthy job search.

First, let me congratulate you on your success in landing a job!  Here is a brief summary of Ambrose’s suggestions:

1.    New Job, new budget.  Put together a new budget as soon as possible that is based on your new income.
2.    Rebuild cash cushion.  You should begin building an emergency fund of three to six months of living expenses.
3.    Save for retirement.  Enroll in the employer’s retirement plan contributing enough to get employer match.
4.    Pull credit reports. You should get free copies of your credit report by calling 877-322-8228. To restore good credit, repay debt and make sure you consistently pay bills on time.
5.     Avoid Splurging. You should resist the temptation to treat yourself to a big purchase such as a vacation or home renovation.  You might reward yourself and your family with more modest outings such as movies and nice dinners.

I think that the most important thing to do when you become reemployed is put all your energies into performing outstandingly in your new job by exhibiting intuitive and a positive attitude.

Please share with readers of this blog suggestions for individuals becoming employed.

Thanks!

Glyn    



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