We hear so much about ways to advance our careers and strive for new opportunities, but sometimes our careers don’t go according to plan and we need a break.

There are many valid reasons to want to step away from working for a while, such as taking care of young children, tending to an ill family member, or even just to reassess what you want out of life.

Unfortunately, bills never stop coming in regardless of what life problems you have. So if you are going to take a break from your career, knowing how to be financially prepared is a major consideration. Julia Carpenter of the Wall Street Journal offers some advice to prepare for this endeavor.

One crucial element to remember is that if you receive insurance coverage through your job, many times you will not have that after you leave.

Experts recommend that if you have any medical care you have been postponing, that you get all those appointments in before you put in your resignation.

As anyone without insurance is well aware, medical care prices in the United States can be exorbitant.

Experts also say to save more than what you think you will need. You might plan on a year-long break and figure you have just enough to cover that. But while leaving a job is on your terms, getting hired for another is not something you can control.

You might encounter more difficulties finding a new position than you believe. Save beyond what you need so you are prepared for contingencies.

And one of the biggest differences is you will have to reevaluate how you spend money. You likely won’t be able to make purchases the same way you did while still working. One tip given for how to avoid spending beyond your limits is to think of how many hours you would have to work to earn the cost of whatever you are purchasing.

Put in those terms, suddenly some items no longer seem essential enough to go through that many hours of work.

For further information on how you can effectively manage your finances before taking a career break, read the Wall Street Journal piece here.

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