Money
Walmart’s $5,497 Two-Story Tiny Home: Affordable Living
Walmart’s Affordable Two-Story Tiny Home: The $5,497 Housing Solution
As housing costs continue to rise, more people are looking for affordable alternatives that don’t sacrifice comfort or functionality. Tiny homes are a booming trend, offering a compact and efficient living solution. Walmart is joining the movement with an exciting and budget-friendly offering—a two-story tiny home priced at just $5,497. This could be your ticket to owning a home without breaking the bank.
Whether you’re a first-time homebuyer struggling to enter the housing market, someone seeking a minimalist lifestyle, or just looking for a cost-effective rental property, Walmart’s tiny home could be exactly what you need. Its simple yet versatile design makes it an excellent option for a variety of uses—from a guest house, Airbnb rental, or even a home office or studio space.
Tiny Living, Big Benefits
Tiny homes like Walmart’s Best Barns Geneva 12×16 Wood Shed Kit offer more than just a place to live—they’re a lifestyle choice. Embracing tiny living allows homeowners to minimize their carbon footprint, reduce energy consumption, and save money on utilities. For those tired of the burden of large homes and hefty mortgages, a tiny home provides a refreshing alternative.
This specific model is perfect for those who need extra space on their property, whether it’s a single-car garage, a place to store tools, or a cozy living space for guests. From the outside, it resembles a high-quality garage shed, but inside, it’s built to maximize space with a second-floor loft, adding valuable storage or an extra sleeping area.
What’s more, tiny homes are customizable. The Best Barns Geneva model comes pre-primed, so you can easily paint it in your preferred color, making it truly your own. And if you’re a fan of DIY projects, this tiny home provides a hands-on opportunity to enhance your skills, as assembly is required.
In fact, Walmart’s priciest tiny home currently stands at a whopping $29,990. So, if you’re looking for a more budget-conscious option, this $5,497 model offers fantastic value.
Related: Top 3 survey platforms to earn extra cash 2024!
A Quick and Easy Purchase
One of the standout features of this tiny home is its ease of purchase and delivery. Walmart offers delivery in less than a week, meaning your tiny home could be on your property in just a few days. The current listed price is $5,947, slightly above the $5,497 price point, so be sure to check Walmart’s website for up-to-date pricing, availability, and potential promotions.
While the home is available online, availability may vary between in-store, online, and app purchases. Walmart is currently offering free shipping for this product, with a delivery date as early as Tuesday, October 29. However, stock availability is subject to change, so it’s always a good idea to check back regularly if the item is out of stock.
Who Should Consider Buying Walmart’s Tiny Home?
- First-time buyers: Entering the housing market can be tough, but Walmart’s tiny home offers an affordable alternative to skyrocketing home prices.
- Airbnb hosts: For those interested in generating rental income, a tiny home is a low-maintenance option that can serve as a cozy retreat for travelers.
- Homeowners needing extra space: Whether it’s for guests, storage, or a home office, this tiny home offers additional living space without the hassle of a major home renovation.
- DIY enthusiasts: If you love working with your hands, assembling this home could be an exciting project that adds value to your property.
Additional Considerations
While Walmart’s tiny home is an appealing choice, there are a few additional factors to keep in mind before purchasing. First, although the home is designed to be a cost-effective housing solution, it doesn’t come with flooring, so you’ll need to budget for this separately. Second, because it’s sold as a shed kit, you’ll need to be comfortable with a DIY assembly or hire a contractor to help put it together.
Moreover, while the home can handle wind speeds of up to 90 mph and snow loads of up to 45 lbs per square foot, it’s important to check local zoning laws and building codes to ensure the structure is compliant in your area. This will help avoid any legal complications and ensure that your tiny home is built to last.
Fast Delivery, Lasting Value
One of the best features? Walmart offers delivery in under a week—meaning your tiny home could arrive in just a few days. The current price is listed at $5,947 online, but it’s always a good idea to double-check Walmart’s website for the latest pricing and availability. While shipping is free at the moment, this is subject to change, so act fast if you’re ready to dive into tiny home living.
Ready to make a move? Visit Walmart’s website to see if this tiny home is in stock and to explore delivery options in your area.
Product Specifications:
Best Barns Geneva 12×16 Wood Shed Kit
Feature | Details |
---|---|
Dimensions | 192 x 144 x 163 inches |
Garage Door | 8’W x 7’H swing-open with transom windows |
Side Wall Height | 8′ 1″ |
Roof | Wind load: 90 mph; Snow load: 45 lbs/sq ft |
Materials | Pre-cut pine trim boards; Louisiana Pacific Smart Siding (3/8″) |
Extras | 2nd-floor loft with 4′ headroom |
Pre-Primed | Ready for painting |
Flooring | Not included |
Money
Should You Buy or Lease an Electric Vehicle? Pros and Cons Explained
Should You Buy or Lease an Electric Vehicle (EV)?
The decision to buy or lease an electric vehicle (EV) has become increasingly relevant as the automotive landscape continues to evolve. Ten years ago, leasing was often seen as an option for affluent individuals who preferred to upgrade their cars regularly. However, the rapid pace of technological advancements in the auto industry has changed this dynamic. Cars are no longer just modes of transportation—they are complex technological devices. As a result, many consumers now seek to upgrade their vehicles more frequently to stay in sync with the latest developments, which has made leasing a popular alternative to purchasing.
This guide explores the benefits and drawbacks of both leasing and purchasing an EV, helping you make an informed decision that fits your financial situation and personal needs.
The Appeal of Leasing an Electric Vehicle
Leasing an EV has become more appealing for many reasons. When you lease, you essentially “rent” the car for a fixed term, making monthly payments over a period of two to four years. Once the lease is up, you return the vehicle to the dealer, with no long-term financial commitment. This is particularly advantageous in today’s rapidly evolving electric vehicle market, where advancements in battery technology, charging capabilities, and software are happening every year.
For instance, a 2027 model is likely to offer significant improvements over a 2024 model—including increased range, faster charging, and enhanced features. Leasing allows consumers to upgrade to these newer models without the long-term commitment of owning a vehicle that could quickly become outdated.
Benefits of Leasing
- Access to the Latest Technology: Leasing allows you to always drive a newer model with the most up-to-date technology. This is especially valuable in the EV space, where developments in battery life, charging infrastructure, and performance are constantly evolving.
- Lower Monthly Payments: Leasing typically requires less money upfront compared to purchasing, and monthly payments are often lower than loan payments. This makes leasing more accessible for people who want to drive a new car without making a large financial investment.
- Flexibility: After the lease term, you have the option to upgrade to a newer vehicle or even switch to a different brand. This flexibility is crucial as EV technology continues to advance rapidly.
Example Leasing Deals
To illustrate, leasing a Hyundai Ioniq 5 can be a highly affordable option. Currently, you can lease the Ioniq 5 SE Standard Range for $229 per month over a 33-month term, with an initial payment of $3,999 due at signing. This brings the total monthly cost to around $350, which is just 0.8% of the vehicle’s total price of $43,195—an excellent deal by most industry standards.
On the other hand, leasing a Rivian R1S would cost a minimum of $699 per month for a 36-month term with an upfront payment of $8,594. The total monthly cost, excluding taxes and fees, comes to about $938, representing 1.2% of the car’s value, which is still reasonable but not as competitive as the Ioniq 5 deal.
Drawbacks of Leasing
Despite its advantages, leasing has some significant downsides. The most notable is that you don’t own the vehicle at the end of the lease term. This means that after making years of payments, you have no asset to show for it. Additionally, there are several other factors to consider:
- Mileage Limits: Most leases come with annual mileage restrictions (typically between 10,000 and 15,000 miles). If you exceed this limit, you may face expensive per-mile charges, which can significantly increase the total cost of leasing.
- Wear and Tear Fees: Leasing contracts often include penalties for excessive wear and damage. If your vehicle accumulates significant dings, scratches, or interior damage, you could be liable for additional costs at the end of the lease.
- Lack of Ownership: Leasing means you’re always making payments and will have to lease again or buy a vehicle outright at the end of the term. If long-term ownership appeals to you, leasing may not be the best option.
The Case for Buying an Electric Vehicle
While leasing is a popular choice, buying an EV has its advantages, particularly for those who plan to keep their vehicle for the long term. If you find an EV that meets your needs—offering sufficient range, charging speed, and other desired features—purchasing might make more sense financially. Ownership allows you to avoid mileage restrictions and wear-and-tear fees, and once your loan is paid off, you will have no more monthly payments.
Related: Will Investing in Electric Vehicle Chargers Increase the Market Value of Your Home?
Financial Considerations of Purchasing
While buying requires a larger upfront investment and higher monthly payments, the long-term financial benefits can be substantial. For example, purchasing a Hyundai Ioniq 5 with a $10,000 down payment would result in monthly payments of around $555.70 over a 60-month financing period. If you put down the same $3,999 as in the leasing example, your payments would rise to $653.27 per month. Though higher than leasing, these payments allow you to eventually own the car outright.
Once the car is paid off, the savings become apparent. For instance, after five years of payments on the Ioniq 5, your average monthly cost over a 10-year period would drop to around $361. Similarly, buying a Rivian R1S would lead to payments of $1,537 per month for 60 months with an $8,594 down payment, but the long-term costs are reduced after the loan is paid off.
Potential for Resale Value
A significant benefit of purchasing is the potential resale value of the vehicle after you’ve paid off the loan. If the car is in good condition after 10 years, you can trade it in or sell it privately, recouping some of your investment and lowering your overall cost of ownership. Additionally, ownership eliminates the concern of exceeding mileage limits or incurring wear-and-tear fees.
Purchasing and Federal Tax Credits
For buyers, especially those purchasing EVs that qualify for the $7,500 federal tax credit, the financial advantages can be substantial. According to Joseph Yoon, a consumer insights analyst at Edmunds, if you qualify for the tax credit and plan to keep your vehicle for the long term, buying may be more beneficial than leasing.
Should You Buy or Lease an EV?
Ultimately, the decision to buy or lease an electric vehicle depends on your financial situation, driving habits, and desire for the latest technology. Leasing offers the advantage of lower upfront costs, access to the newest models, and flexibility, but comes with mileage restrictions and a lack of ownership. On the other hand, purchasing an EV allows you to own the vehicle outright, build equity, and avoid the fees and limitations associated with leasing.
If you expect to drive more than 15,000 miles per year or plan to keep the vehicle for a long time, buying may be the better option. If you prefer flexibility and staying current with the latest technology, leasing could be more appealing.
Whether you choose to lease or buy, always consider your long-term financial goals, current credit situation, and how much you’re willing to spend on the latest EV technology.
Money
Regulation paves the way for the human-centric adviser
Some 20 years ago, it was common for a financial adviser to be product-centric, then, towards the end of 2010, they became customer-centric.
More recently, the industry is becoming human-centric.
I admit, this is a broad-brushed – and inevitably unfair – assessment of how advice has evolved over the course of the last 20 years. So, allow me to elaborate.
When advice was product-centric, earnings were often linked to commission-based remuneration. Training standards emphasised product knowledge. The aim was to ensure advisers were well-versed in the offerings available. Their primary role was to match clients with suitable financial products.
It is no longer good enough to be thinking of clients as ‘customers’, as in ‘the recipient of a service’ or ‘the recipient of a product’
Then financial services was nudged to become customer-centric. Here, the Retail Distribution Review played a pivotal role. It banned commission payments from product providers and aimed to ensure adviser recommendations aligned with clients’ best interests.
Advisers faced higher qualification requirements, enhancing their expertise in financial planning. Transparency improved with clearer fee disclosures and detailed service explanations.
Ongoing professional development further reinforced the focus on delivering customer-centric advice, as did the Treating Customers Fairly initiative.
“OK,” I hear you cry. “Where does human-centric come in?”
Well, Consumer Duty has been the major regulatory driver for advisers to become human-centric. It is no longer good enough to be thinking of clients as “customers”, as in “the recipient of a service” or “the recipient of a product.”
Advisers can distinguish themselves from more automated propositions, which can lead to referrals
Think about it for a moment. A “customer” is merely one of many people who bought a product or service. Speak of the customer and it highlights a rather transactional relationship: a connection between a service provider and, well, the customer.
This perspective emphasises the act of buying and selling. It doesn’t delve into the deeper, more personal aspects of the individual behind the transaction.
However, with the rise of behavioural science, psychology, neuroscience and other human-centred disciplines, we are learning to look beyond the generic customer to the individual human. Humans have instincts, emotions and vulnerabilities, and their decisions are influenced by a variety of contextual factors that either enable or hinder them.
Consumer Duty, with its strong emphasis on real-life outcomes, pushes advisers to consider these broader human elements. This marks a fundamental shift towards human-centric advice. The focus is on understanding and supporting the whole person, recognising that clients are not just customers but individuals with unique needs and life circumstances.
Think about it for a moment. A “customer” is merely one of many people who bought a product or service
There are many different aspects of human-centric advice, many of which will bring opportunity. This could be through human-centric communication – for example, in times of market volatility. Or in building trust by more systematically considering the non-technical components that contribute to it.
Overall, human-centricity can be a fundamental part of why people look for and select a financial adviser, bringing in emotional and often apparently ‘irrational’ reasons. Through a human-centric approach, advisers can distinguish themselves from more automated propositions, making the fact-find and client reviews more meaningful. All of which can lead to referrals.
The context we’re in nudges advisers to be ‘human-centric’. It’s a label worth embracing to capitalise on the opportunities that come with it.
Dr Thomas Mather is manager of Aegon’s Centre for Behavioural Research and Insights
Money
Hundreds hit by DWP benefits error that could see payments STOP – are you affected?
HUNDREDS of households have been affected by a DWP benefits error, which could leave them out of pocket.
It comes as the government continues to move all two million claimants on legacy benefits to Universal Credit by the end of March 2025 through a process known as managed migration.
As part of this process, households on legacy benefits, including tax credits, receive “migration notices” by post.
These notices provide instructions on how to switch to Universal Credit, as the transition is not automatic.
Households must apply for Universal Credit within three months of receiving their managed migration letter.
Failing to do this can result in benefits being stopped.
However, a “small number” of the 800,000 on income-related employment and support allowance (ESA) have faced a stumbling block when applying for Universal Credit.
ESA provides financial support for those unable to work due to illness or disability.
According to Department for Work and Pension (DWP) rules, ESA claimants should not be required to provide fit notes during the migration process.
Furthermore, those in the ESA support group should not be asked to undertake any work-related activities, as their work capability status should carry over when they migrate to UC.
Despite these clear rules, some DWP staff have asked ESA claimants to obtain fit notes from their GPs.
Others have been incorrectly informed that they need to agree to new work commitments before making the switch.
Claimants have been told that failure to provide fit notes or agree to new work requirements would make them ineligible for limited capability for work and work-related activity (LCWRA) payments.
These extra payments are worth up to £416 a month.
Similar to Universal Credit, legacy ESA claims consist of a standard allowance and an additional component for incapacity for work.
This additional component – either the work-related activity component or the support component – is being replaced by Universal Credit’s LCWRA payments.
Therefore, if you were already receiving these extra components under ESA, you are not required to submit a new fit note or agree to new work requirements to be eligible for LCWRA payments.
Ayla Ozmen, director of policy & campaigns at anti-poverty charity Z2K, said: “It’s very concerning to hear that some disabled people on employment and support allowance who are being moved on to universal credit are being asked to look for work.
“Not only is this unlawful, but it puts disabled people at risk of being inappropriately sanctioned.”
A DWP spokesperson added: “We are aware of an issue where a small number of claimants are still being asked to attend a Claimant Commitment appointment and are currently working to resolve the situation.
“Anyone who thinks they have been affected should contact their work coach.”
Which benefits are stopping?
UNIVERSAL Credit is replacing six benefits under the old welfare system, commonly called legacy benefits. They are:
- Working tax credit
- Child tax credit
- Income-based jobseeker’s allowance
- Income support
- income-related employment and support allowance
- Housing benefit
If you’re on any of these benefits now, you can move over immediately or wait until you receive your migration notice.
You should carefully consider the financial implications of transitioning to Universal Credit before receiving a formal notice, as once you make the switch, there is no option to revert to your previous benefits.
An online benefits calculator, free and easy to use from charities such as Turn2Us and EntitledTo, can help you check.
You may also be moved to Universal Credit if your circumstances change, such as moving home, changing your working hours, or having a baby.
Ultimately, everyone will be transitioned to Universal Credit through the managed migration process, and all legacy benefits will be phased out by 2025.
A WORD OF WARNING
Since July 2022, the Department for Work and Pensions (DWP) has sent nearly 1.14million migration notices.
However, according to the latest figures from the DWP, 284,660 individuals lost their benefits after failing to respond to migration notices received between July 2022 and June 2024.
That’s why it’s vital to ensure that you switch to Universal Credit within three months of receiving your letter.
Failure to do this will stop your current benefit payment.
You will also forfeit transitional protection top-up payments designed to ensure you do not lose money when transitioning to Universal Credit under the managed migration process.
Some 623,310 individuals have since made successful claims for Universal Credit, and another 232,830 are still in the process of transitioning.
HELP CLAIMING UNIVERSAL CREDIT
As well as benefit calculators, anyone moving from tax credits to Universal Credit can find help in a number of ways.
You can visit your local Jobcentre by searching at find-your-nearest-jobcentre.dwp.gov.uk/.
There’s also a free service called Help to Claim from Citizen’s Advice:
- England: 0800 144 8 444
- Scotland: 0800 023 2581
- Wales: 08000 241 220
You can also get help online from advisers at citizensadvice.org.uk/about-us/contact-us/contact-us/help-to-claim/.
Will I be better off on Universal Credit?
ANALYSIS by James Flanders, The Sun’s Chief Consumer Reporter:
Around 1.4million people on legacy benefits will be better off after switching to Universal Credit, according to the government.
A further 300,000 would see no change in payments, while around 900,000 would be worse off under Universal Credit.
Of these, around 600,000 can get top-up payments (transitional protection) if they move under the managed migration process, so they don’t lose out on cash immediately.
The majority of those – around 400,000 – are claiming employment support allowance (ESA).
Around 100,000 are on tax credits, while fewer than 50,000 each on other legacy benefits are expected to be affected.
Those who move voluntarily and are worse off won’t get these top-up payments and could lose cash.
Those who miss the managed migration deadline and later make a claim may not get transitional protection.
The clock starts ticking on the three-month countdown from the date of the first letter, and reminders are sent via post and text message.
There is a one-month grace period after this, during which any claim to Universal Credit is backdated, and transitional protection can still be awarded.
Examples of those who may be entitled to less on Universal Credit include:
- Households getting ESA and the severe disability premium and enhanced disability premium
- Households with the lower disabled child addition on legacy benefits
- Self-employed households who are subject to the Minimum Income Floor after the 12-month grace period has ended
- In-work households that worked a specific number of hours (e.g. lone parent working 16 hours claiming working tax credits
- Households receiving tax credits with savings of more than £6,000 (and up to £16,000)
Either way, if these households don’t switch in the future, they risk missing out on any future benefit increase and seeing payments frozen.
Money
Walker takes on CFO role at British Land
Walker, presently COO, will join the board and become CFO from 20 November, replacing Bhavesh Mistry, who is stepping down.
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Money
Urban Adventures in Sydney: A Digital Nomad’s Survival Guide – Finance Monthly
Sydney’s blend of urban thrills and natural beauty is a dream for digital nomads. Sydney has it all. Work remotely from its vibrant cafés or sightsee between meetings. It’s the perfect balance of work and play. It has reliable tech, great connectivity, and chances to explore its famous sites and hidden gems. You’ll want to set up an Australia eSIM before arrival to stay connected while on the go. This digital SIM card gives you internet access anywhere. It saves you from the hassle of switching physical SIM cards. Now, let’s explore what makes Sydney great for digital nomads.
Staying Connected with an Australia eSIM
One of the biggest concerns for digital nomads is reliable internet access. Sydney benefits from a strong mobile network. It’s easy to connect with an Australia eSIM. This technology lets you activate your SIM digitally. So, you can avoid buying a physical SIM card upon arrival. I need constant mobile data to stay productive. Whether in a café, navigating the city, or meeting clients. An eSIM lets you explore Sydney without losing internet access.
Best Work-Friendly Cafés in Sydney
When you’re a digital nomad, finding a good workspace is key. Sydney has many cafés for remote workers. They offer free Wi-Fi, comfy seats, and a friendly vibe. Surry Hills, Newtown, and Bondi are popular. They have cafés that are both trendy and suitable for work. These spots serve great coffee and provide the right environment to get work done. Whether you’re looking for a quiet place or a café buzzing with creative energy, Sydney has plenty of options.
Many digital nomads prefer working from cafés because they offer flexibility. You can set your schedule, enjoy a change of scenery, and grab a bite to eat while working on your latest project. These cafés are scattered throughout the city, so you’ll never be far from a good workplace spot.
Co-Working Spaces for Serious Productivity
Sometimes, you need a more professional setting than a café to get through your workload. Sydney boasts a range of co-working spaces designed with digital nomads in mind. They have high-speed internet, private meeting rooms, and quiet areas to help you focus. Some offer networking opportunities. They make it easier to connect with other remote workers or potential clients.
Co-working spaces are great if you want a structured work environment. You’ll have all the tools you need to be productive. This includes printers, meeting rooms, and event spaces. Many of these spaces offer daily or weekly passes. You can use them as needed without long-term commitments.
Balancing Work and Exploration in Sydney
Sydney isn’t just about working—it’s also about exploring. The city is filled with activities for every type of traveller. Whether you’re into the arts or nature or want to relax by the beach, there’s something for everyone. Bondi Beach is a must-visit spot, offering golden sands and a lively atmosphere. It’s the perfect place to take a break from work, soak in sunshine, or even catch a wave.
For culture, visit the Sydney Opera House or the Royal Botanic Garden. These spots provide a peaceful break from the hustle and bustle. They let you recharge before returning to work. Sydney’s mix of relaxation and activity makes it perfect for digital nomads. It helps them balance work and play.
Getting Around Sydney with Ease
Getting around Sydney is simple, thanks to its reliable public transport. The city has a great system of buses, trains, and ferries, making it easy to move between neighbourhoods. Public transport is a good option for both. It can take you to a café to work or to famous spots, like the Sydney Harbour Bridge.
If you prefer walking or biking, Sydney has plenty of bike lanes and walkable paths. A stroll through the city can reveal hidden gems. You can also enjoy its charming neighbourhoods. With an Australia eSIM, you can easily access maps on your phone, ensuring you never lose your way.
Exploring Sydney’s Outdoor Adventures
One of the best things about living in Sydney is enjoying outdoor activities. The city has beautiful beaches, scenic walks, and national parks, making it perfect for a work break. You can stay active and enjoy nature, swimming at Manly Beach or hiking in the Blue Mountains.
For a quicker outdoor experience, visit the local parks or take the coastal walk from Bondi to Coogee. This stunning path offers breathtaking views of the coast. It is a popular choice for both locals and visitors.
Making the Most of Your Sydney Experience
Sydney has everything you need to thrive. Take advantage of the work-friendly cafés and co-working spaces throughout the city. Public transport makes it easy to get around so you can move from one spot to another without hassle. Explore the city’s attractions. Visit cultural landmarks and beach escapes. It’s easy to balance work and leisure here. Excitement waits around every corner.
Conclusion
Sydney is perfect for digital nomads. It offers both productivity and adventure. An Australia eSIM gives you reliable connectivity. You can then stay in touch with clients, navigate the city, and work from anywhere. Sydney has it all for digital nomads. There are cafés for work, co-working spaces, and scenic beaches. Also, there are vibrant cultural hotspots. Explore the city, soak in its energy, and make the most of your time in this urban paradise.
Money
How to address career gaps in your CV
Generations of workers have worried that employment gaps in their career may be perceived in a negative light — particularly women who have been out of the workplace while bringing up children.
Some employers may still take a dim view of career gaps. A 2022 LinkedIn survey found that a fifth would reject candidates who had taken one.
However, while job applicants may be tempted to stretch the dates on their CV to gloss over any gaps, the risk of being found out is probably not worth it.
How should new entrants to the financial advice sector address such gaps and how much detail should they share with prospective employers?
Personal growth and skills
In general, employers have become more accepting of career gaps, particularly since the pandemic. Post-Covid, more firms are taking on board issues such as staff wellbeing and work-life balance. They are more understanding of employees having their own life and personal circumstances that can impact their professional life.
That said, career breaks still need careful handling.
If you’ve taken a career break, you need to put a positive spin on what you did and how you did it
Recruitment experts say job applicants should highlight the skills they have developed during their time away from paid employment.
“Common ones include communication, teamwork, leadership, innovation, and planning and organising,” says Dr George Sik, director of assessment and chartered psychologist at Eras, a psychometric testing consultancy.
“Think about things you did that might demonstrate evidence of these, and also about how you will explain their relevance to working life. This should emphasise your suitability when you are interviewed, or on your CV.”
Career gaps can also be used “to add colour” to a job application, according to Katherine Jackson, senior partner at Page Executive.
“You may have been travelling, or taken extended time off for caring responsibilities. You may have felt burned out or just needed some headspace to help you change the direction of your career,” she says.
Mention how those experiences enhanced your problem-solving abilities and emotional intelligence
“All of these are valid reasons that, when explained in an honest and open way, can demonstrate values, behaviour and ambitions in a way that traditional career paths often can’t.”
Whatever a job applicant has been doing during a career gap, Sophie Bryan, founder at HR consultancy Ordinarily Different, suggests linking the skills learned during those experiences to the requirements of financial planning.
“Clients value advisers who understand diverse backgrounds,” she says.
TopCV careers expert Amanda Augustine points out that unpaid work completed during a career break, such as leading a committee, charity work or an internship, should be mentioned on a CV.
The last thing you want to do is get caught in a lie during the interviewer’s follow-up questions or a background check
“Remember, you don’t need to receive a pay cheque for your work in order to include it in your CV’s employment history section,” she says.
Honesty
There are certain career gaps new entrants to advice could feel uncomfortable discussing with prospective employers.
For example, they may be reluctant to speak about physical or mental health in case this puts them off. Or they may have clashed with a previous employer and finding a new job has taken longer than expected.
Professionals recommend being truthful — but within your own boundaries. In Augustine’s view, honesty with tact is the best policy.
Valid reasons, when explained honestly, can demonstrate values, behaviour and ambitions in a way that traditional career paths often can’t
“A TopCV study found lying during an interview was the surest way to get dismissed,” she says.
“The last thing you want to do is get caught in a lie during the interviewer’s follow-up questions or a background check.”
St James’s Place Financial Adviser Academy senior manager Gee Foottit points out that, if the circumstances that led to a career break — such as poor health — mean more support is required, employers will want to know.
“They need to know if there are any accessibility issues, what this entails day to day and whether any adjustments are required,” she says.
However, this does not mean going into lots of detail about your personal life.
Clients value advisers who understand diverse backgrounds
“Keep your answers brief, stick to the facts and avoid letting your emotions get the better of you,” says Augustine.
“Share any necessary information that communicates the essence of why you took time off and, if it is a personal matter, indicating this to the interviewer will move them off the topic.”
Resilience and solutions
If a career break is the result of personal challenges, such as health issues or caring responsibilities, Bryan suggests focusing on the resilience and perspective this has given you.
“You might mention how those experiences enhanced your problem-solving abilities and emotional intelligence — staying professional while avoiding too much detail,” she says.
You don’t need to receive a pay cheque for your work in order to include it in your CV’s employment history section
It can also help to present solutions if, for example, ongoing caring responsibilities or health issues mean you will need to take time off in the future.
“You can pledge to make up the time if you need to take time off for health appointments,” says Victoria Harris, chief financial officer at The Curve, a financial education platform for women.
She adds it may also help to talk to others who have returned to the workplace after a career break.
“If you’ve taken a career break, you need to put a positive spin on what you did and how you did it.”
This article featured in the October 2024 edition of Money Marketing.
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