Spring signals the changing of the seasons. And while we (typically) don’t deal with snow in North Florida and South Georgia, it is the time when chillier temperatures thaw out and we welcome our signature gorgeous weather.

Just as the seasons change and bring shifts to the way we move through our days, life changes are inevitable. From major milestones to smaller transitions, you can usually count on financial implications that come along for the ride.

Changing Careers

Whether you’re planning for a career change or navigating an unexpected event like job loss, there are important considerations for your wallet — and proactive planning can make the process smoother.

Reflect on your value. Don’t wait until you’re sitting at your computer, refreshing your résumé, to take stock of what you bring to the table. Set aside time to list major projects you’ve worked on, the positive outcomes you influenced, and the skills and strengths you developed along the way. Taking this action could help you secure a higher rate of pay.

Consider upskilling. A career transition can be a natural inflection point to reevaluate your skill set. Would acquiring new skills or certifications boost your earning potential? While classes, certification programs, and other learning opportunities may come with upfront costs, they can often be offset by long term financial gains.

Pregnancy and Parenthood

Preparing to become a parent involves much more than finances. But it’s important not to let the financial piece fall off your radar. Here are a few key areas to keep in mind:

Evaluate medical needs with your budget in mind. Between doctor visits, medical procedures, and related expenses, costs can add up quickly. Keep a comprehensive list of expected expenses and consider how they fit into your overall budget.

Start thinking about childcare and education. From prepaid college plans to education savings accounts and other options, there are early steps you can take to begin building savings for your child’s future. Exploring these choices early can help you make informed, confident decisions.

Buying a Home

For most of us, purchasing a home is one of the largest financial decisions we’ll ever make. Fortunately, there are ways to approach the process thoughtfully so you can make the most of this important investment.

Know your buying power. Connecting with a mortgage lender and obtaining a prequalification letter can help you better understand what you can afford before you start shopping.
Budget for your dream responsibly. Even if you qualify for a higher loan amount, that doesn’t mean you need to spend the maximum. Take time to calculate your monthly expenses against your income. After covering necessities, determine what mortgage payment fits comfortably into your budget.

Build, or maintain, strong credit. Your credit score plays a key role in qualifying for a mortgage and determining your interest rate. A higher score may help you secure a lower rate, which can save you money over time.

First Commerce Credit Union’s mission is to be your financial partner for life. That’s why we offer financial solutions for every stage of life, along with friendly, knowledgeable service to help guide you through whatever changes come your way.

First Commerce Credit Union provides this content to inform and inspire. While we strive for accuracy, we do not guarantee this information is accurate, complete or current.  This information is not professional advice (tax, legal, financial, etc.) and should not replace your individual consultation with qualified advisors. Laws, rules, and personal circumstances can change, so please verify how this information applies (or does not apply) to your situation and location. All decisions remain your responsibility. First Commerce Credit Union and its affiliates and employees assume no liability for outcomes resulting from the use of this material.