Getting the Financial Job: Part 5

This is my last blog on the importance of credit in getting a good job in the financial sector. As I have written before, you need good credit to get a good job in the financial field. For instance, a friend of mine in insurance told me that a bankruptcy on your record's the death knell in getting hired for his position.

This blog will deal with those who still have credit, but are on the path to losing it even though they can still control their future. The important thing here is do you really want to?

Honesty's indispensable when doing any overhaul of your finances. Can you save your credit if you change and will you change? I write "can you" because obviously, no amount of rescue save bankruptcy court will redeem some situations, even if it means losing the chance to work in the financial industry for now. But if you're in a position to save yourself, here's some advice.

First, after honestly looking at your finances, see where you can cut. You don’t need cable, cell phones, lunches out. (You do need a house phone and internet if job hunting. Potential bosses like the reliable land line and use e-mail in communications). Libraries are free. Children can be clothed at the thrift store. Dates can be cheeseburgers and a walk in the park for couples. Eat like you did at 21, soup and sandwiches. This isn't a lifestyle to do forever but until you can get a handle on bills.

Second, can you work an extra job? Even in bad times there are jobs others won't do. Obviously, commonsense applies. If you sell insurance, you can’t also work the fry station at McDonald's. And I mean this with respect; I worked the fry station at Burger King. But a customer won't buy from you if he or she sees you working there, so remember this.

Third, you can call creditors and see if they'll work with you on your bills. Many companies will do so. What creditors hate, as a matter of fact, is a customer who instead of calling and being honest, ignores a bill and hopes no one notices. If you are going to be late with a payment, call. If the monthly payment's unaffordable, call.

Fourth, what's your lifestyle? By this I mean, a cut from steak to hotdogs may be too little too late. Is your house too expensive? Are you renting a place that's out of your pay grade? Are you bent on buying a house even though, if your wife who works gets pregnant or a spouse who works gets sick, you can’t afford it?

I was once told that I was narrow minded. I said, "you mean I have principles." The other person looked stunned. It never occurred to her that if you have principles, you are narrow minded of a sort. But still, that doesn’t mean that there aren’t narrow minded people.

You want to do the best for everyone so you won’t hear of changing your lifestyle that dramatically. It's a two sided street though as my point above illustrates. Which side of the street are you on? Remember too, my blog's tailored for a wide audience so apply advice carefully. Every ones predicament's different.

Which brings me to my last point, stay out of trouble at the beginning. If you are in the middle of trouble, stop borrowing. I told my wife when we decided to get out of debt that there were no tombstones that read, "They died because they stopped borrowing." And we're still alive.

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