It’s all too easy to feel stuck when you’re making a career change. Depending on the jobs you’re interested in, a career shift could potentially mean investing time and money into getting a new degree, networking, and then making your way back up through the career ladder.

But you don’t necessarily need a business degree and stack more loans on top of your student debt to change careers. Here are a few steps you can take before you make a career change to increase your chances of success and to keep you from breaking your budget.

Consider jobs that have a shortage

If you’re unsure of what career you want to pivot to, consider looking into the industries that have a high need for people right now. You might remember hearing commercials on the radio and on TV a few years ago marketing the need for medical assistants and dental assistants. There’s still a big need for those positions.

Because of staffing shortages, there are approximately 7.2 million open healthcare positions available globally. In the U.S. alone, there’s a shortage of over 58,000 dental assistants, and the employment of medical lab technologists and technicians is expected to jump by 13% by 2026.

Take into account the need for the career you’re considering

When you’re considering job shortages in your career change, make sure you’re also considering whether those jobs will still be needed in the next decade. For instance, according to CareerAdict, the print industry might not exist by 2030.

However, careers like hairstylists, medical assistants, and dental assistants will still be needed decades from now. Everyone needs their hair cut, everyone needs medical treatment, and 4 million Americans are currently wearing braces.

Ask yourself if your degree is relevant to your career change

You might need to go back to college if you want to get into Engineering and you have a Master’s in Library Science. But depending on how big of a shift you’re making in your career path, you might not necessarily have to go back to school.

Do some research on the career paths those with your major have taken. For instance, 78% of home buyers said their real estate agent was a useful information source. You can become a real estate agent with a background in economics, marketing, business, and finance.

Other careers may not even require you to have a Bachelor’s degree in a specific field. Instead, you might need to take an exam or get a license to work in a specific field. Don’t assume you need to invest in more education to change careers.

It’s easy to feel stuck when you’re considering making a career change but don’t know where to start. But the good news is that you’re not alone. Many people decide to change careers later in their lives when they realize their current careers don’t make them happy.

By following the tips above and doing research on career changes and what you can do in the current job market with the skills you have, you can shift careers without breaking your bank account.

MANAGE YOUR MONEY TOGETHER

Here are some simple guidelines for DINKS to build wealth:

1) Collaborate: Meet regularly to talk about money, set goals together, track and monitor them.

2) Understand and respect your partner. Take time to understand your partners values about money.

3) Watch the numbers. Get a budget, monitor your spending and track your net worth.

4) Max your retirement. Maximize contributions to your tax deferred retirement accounts.

5) Invest in stock. Stocks perform better than bonds or cash.

6) Avoid high interest debt. Credit cards and title loans are financial cancer.

7) Diversify. Don't put all your eggs in one basket.

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