By Rosie Cima, Nerdwallet

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Thinking about changing jobs? You’re in good company. According to data released by the Bureau of Labor Statistics, Americans are staying in the same job for shorter periods of time than in the past.

The length of time you’ve worked for your current employer is called your job tenure. In 2014, the median job tenure – across all age groups, occupations and industries – was 4.6 years. In 2024, it dropped to 3.9 years. In fact, job tenure is now the shortest it has been in over 20 years.

Economists care about tenure as a measure of employment security and health of the labor market. And personal job tenure is important to workers because job changes often raise questions about personal finances and planning for the future.

Tenure Trends

The median job tenure generally got longer from the 1980s through the 2010s. From 2014, it started to recede. Women tend to have shorter tenures than men – a gap that was starting to close in the 2010s, but has since opened back up. And tenure increases with age, as people have generally spent more time in the workforce.

Tenure also varies by industry and current occupation.

On average, people in “management occupations” have stuck around the longest: 5.7 years. This makes sense, as one common path to management is when a company promotes a long-tenured employee into a supervisory role.

If your job tenure is dramatically above average for your occupation, that could be a sign that your job is a really good fit. But no matter how long you’ve been at your job, if you’re feeling unsatisfied, or think your future at the company is uncertain, you may be considering a change.

Consider the benefits of having more tenure

Changing employers could help you get paid what you’re worth. Wage growth is generally higher among job switchers, according to data from the Federal Reserve Bank of Kansas City.

But many workplaces provide incentives to stay. Senior employees often get more PTO, access to development programs or more job security. Your time at a company can also translate into institutional knowledge and a level of respect among colleagues who haven’t been around as long.

Another benefit of seniority is the possibility of advancement. If you’re not fully satisfied in your current role, your employer might consider what they can do to keep you. Being prepared to walk away from a job is a very strong negotiating position, and may help you find a better role at the same company.

It’s unlikely that any single one of these things will make or break your decision to leave. But it’s a good idea to closely examine whether or not the potentially higher salary with a new employer is offset by fewer benefits or other tradeoffs.

Financial checklist when job switching

If you ultimately decide it’s time to move on, take steps to get your financial house in order before turning in your notice:

Do: Make a plan to support yourself financially

You might already have a new source of income lined up, or a job offer for a new position. If not, or if that new job doesn’t pay as much as the one you’re leaving, you’re probably going to want to budget for this transition.

This means taking a look at your spending, your savings and how much you expect to make in the coming months. Cutting back on your spending, even in modest ways, can buy you more time. When you’re job hunting, there’s a big difference between running out of money in six months versus running out in one.

Don’t: Forget about your retirement account

If you have a 401(k account, the most common kind of employer-sponsored retirement account, you can leave it where it is, roll it over to another account or cash it out early. Cashing it out is the least recommended option because it comes with hefty tax penalties.

If your employer contributes to your retirement account, you should nail down how much of your balance is yours for the taking. Your employer’s contributions might be yours to take with you (known as “vested”) only after a certain number of years with the company.

If you’re unsure of how much of your retirement account is your contributions versus your employers’ portion, or you’re unclear on your vesting schedule, talk with your human resources or finance department.

Do: Have a plan for health insurance

Figure out when your employer-paid insurance is going to end, and who will insure you after it does. Temporarily extending your coverage through COBRA is one of several options. Switching to a new insurer will reset your deductible, so if you’ve met or are close to your current deductible, now may be a good time to get any health care you’ve been putting off.

Do: Cash out your use-it-or-lose-it benefits

Some employers pay out unused PTO when you leave, but how much varies from job to job. If you have unused days that won’t pay out when you quit, now is the time to use them. If you have a flexible spending account (FSA), it won’t follow you to the next job. Find out when it’s going to expire, and then spend it before it does.

Don’t: Forget your HSA

Unlike an FSA, you can keep your employer-provided health savings account (HSA) after you quit. If you have a significant amount in the account – which you might, especially if you’ve opted to invest it – don’t lose track of that money. You can choose to leave your HSA where it is, or you can transfer the funds to a new HSA to consolidate.

Do: Get a good reference

When you give your notice, communicate clearly, cordially and professionally. Do your best to part ways on a positive note. Your last few weeks at a job are a good time to thank your coworkers and superiors for working with you, and to ask if they’d be willing to provide you with a reference in the future.

Rosie Cima writes for NerdWallet. Email: articles@nerdwallet.com.

The article Job Tenure is Down: What to Do Before You Quit originally appeared on NerdWallet.

By Kimberly Palmer, NerdWallet

Forget about workbooks and flash cards. Financial-themed videos, grocery store games and even escape rooms can be a better way to teach kids about money, according to the latest thinking from financial literacy experts.

“A lot of traditional curriculums were about the numbers,” says Noel Wilkinson, a program coordinator for the Take Charge America Institute within the Norton School of Human Ecology at the University of Arizona.

That can be a turn-off for some students.

“That led me to involve more play and gamification into workshops,” he adds, which led to greater engagement and, as a result, more learning.

Here are a few ways to make learning about money fun — and more effective:

1. Let kids practice and make mistakes

“I’m a big believer in experiential learning,” says Jessie Jimenez, an accredited financial counselor in Oregon and founder of the website Cashtoons.com, where she makes engaging videos about financial topics.

In other words, learning by doing — such as practicing buying items on a budget at the grocery store or keeping money safe while you shop. While it might be nerve-wracking to watch your kids handle real money, those kinds of experiences can actually help them learn.

Jimenez says she grew up feeling like she was not a “money” person or a “numbers” person, and it was only after she became a mother that she started focusing more on financial literacy.

“I thought, ‘How did I get this far without being taught personal finance management? Where is the resource for those of us who don’t want to listen to podcasts about investments?’”

The answer, she discovered, was that she had to create those types of experiences that allow kids to experiment with financial management on their own.

2. Invent money games

With preschoolers, many everyday experiences, such as saving money on groceries, can be turned into a game, Wilkinson says.

“It’s all about encouraging parents to learn through play with kids,” he says.

You could play “price detective” where you each try to find the best deal to save money on a specific item, for example, or you could play “restaurant” at home where your child takes your order and sets prices.

“Play creates a safe environment where you can make decisions and choices that don’t affect us in real life,” Wilkinson says.

You can experiment with choices and outcomes without fear, he adds.

Teenagers can graduate to more advanced games. Wilkinson and his team developed an escape room for teenagers in Arizona where they finish a budget for a character in order to solve a puzzle and get a key, for example. Even something simple like tracking savings visually on a chart posted in the kitchen can make the process seem more fun.

“The concept of gamifying learning in general has become widespread,” Wilkinson adds.

Video games like Animal Crossing, Railroad Tycoon and Atlas:Earth can also help teach teens and young adults about personal finance.

Buying digital real estate parcels in Atlas:Earth, a virtual real estate game, gives you hands-on insight into value and scarcity, says CEO and co-founder Sami Khan. Players can also earn cash back for various actions.

“The time between 20 and 30 is an important decade for compounding, so it’s important for people to learn about money early,” Khan says.

3. Make it fun

Whether you’re trying to teach price comparison at the mall or explain how kids can use their allowance, Jimenez says one key is to avoid calling the process “learning.” Instead, it should just feel fun, whether it’s a casual conversation in the car or a shopping trip.

“Don’t announce, ‘It’s time to learn!’” Jimenez cautions. “That turns it into a chore.”

She also suggests giving yourself some extra time for the shopping trip if you’re going to let your kid help you hunt for bargains.

“It takes a little longer and you have to be open to that,” she says.

Part of financial literacy is simply learning to explore your own feelings and habits when it comes to money, and learning to be intentional instead of impulsive about decisions, Jimenez says. Kids can learn those skills from talking to you and watching you in your own life.

Try talking out loud when making purchase decisions or opening bills and discussing what they mean. Explaining big purchase decisions like cars and vacations can also help with comprehension.

4. Recognize different learning styles

Wilkinson says some kids may be more drawn to learning through books and storytelling while others prefer video games, practical exercises at the store or a budget-themed escape room. One key to learning, he says, is to embrace the method that works best for you and to acknowledge that everyone is coming from a different place.

“Some folks just don’t have experience with financial literacy. Maybe they didn’t grow up in a household where parents talked about investing or building wealth,” he says.

In those cases, adults can learn alongside their children through books, games and other experiences.

“Even as adults we benefit from involving play in learning,” he adds.

With these fun approaches to learning about money, kids might become “numbers” people without even realizing it.

Kimberly Palmer writes for NerdWallet. Email: kpalmer@nerdwallet.com. Twitter: @kimberlypalmer.

The article 4 Ways to Make Learning About Money a Blast originally appeared on NerdWallet.