Jill on Money with Jill Schlesinger Furloughed and New Job Search
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Nov 3, 2025 A caller grapples with her husband being furloughed while considering a new, lower-paying job. The discussion highlights their financial situation, including impressive household income and college savings strategies. Jill advises on assessing job security and potential income impacts, modeling worst-case scenarios while emphasizing the importance of liquidity. Amidst navigating challenges, practical steps are shared to optimize financial readiness without rushing into job changes.
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Delay Major Career Changes During Spouse Furlough
- Do keep interviewing and exploring lower-paying options, but avoid making a final move until your spouse's job situation is clearer.
- Delay major career changes until you know whether his furlough becomes permanent to avoid doubling household risk.
Retirement Savings Provide A Cushion
- Their strong retirement savings and maxing contributions give them financial resilience.
- This cushion makes short-term flexibility possible but shouldn't replace emergency liquidity.
Spending Fell During Furlough
- Anne reports household spending dropped from $14–16k to $10k during the furlough, largely by cutting dining out and vacations.
- She also continues $633 monthly to 529s and maintained other savings habits despite the furlough.