You never know how long your career transition is going to last. Obviously, the more money you have coming in during this period, the less often you'll need to dip into your savings, and the less likely your chances will be of incurring new debt.

The simplest way of increasing your income during your transition is to work. Since it may take some time to find work in your desired field, you may want to consider a part-time job, or temporary full-time work in any available field—even a lower-paying one. If you think working day to day will interfere with your job search, keep in mind that many companies now have flexible schedules that allow you to work non-traditional hours—making it easier for you to schedule job interviews. You may still be able to collect partial unemployment benefits, or full benefits, in periods between temporary jobs. Discuss the rules and policies with your state unemployment representative.

SUGGESTION: Keep in contact with your former employer—you never know when a part- or full-time need arises for someone with your skills. Remember, every dollar you earn during your transition is one less dollar you will need to borrow or take from your savings. Also, don't burn any bridges. You may need a reference from your old employer. Business is about relationships and networking.

Methods of Increasing Family Income

Today, most households no longer have just one wage earner. This means that other family members can help replace your temporary loss of wages. While you may be able to partially replace your earnings through temporary employment, you may also need to spend as much time as if you were working full-time to search for another job. Consider the following options:

• Have your spouse and other members of your family work some overtime.
• Ask family members to consider taking on a second job.
• Ask non-working family members to pitch in and find a job.