People can have all kinds of reasons for wanting to change jobs or careers. Today, however, the most common reason is financial necessity. Over the past 12 months, more than 5.3 million Americans have lost their jobs, according to the Bureau of Labor Statistics. About half of these losses occurred within the past few months.

"Whether a job change is something they choose or it is forced upon them, we can help customers prepare for this transition," says Diane Arrasmith, a financial center manager at Fifth Third Bank. To make this process go smoothly, she encourages people to consider the following tips:

Do your homework. "If you're considering a new career, it is important to prepare ahead of time by researching the demand for jobs in your new field and taking any necessary classes," Arrasmith says. "If additional education is required, it helps to start taking classes while still employed to reduce the need for loans."

Save up ahead of time. A job hunt often creates additional expenses, such as new clothes and travel costs for interviews, or even a new computer. "If you're unemployed during a job hunt, you have the additional burden of juggling monthly bills and perhaps interim health insurance."

Arrasmith encourages people to prepare for the unexpected by saving a small portion of every paycheck until they have a fund equal to a few months' pay. "If you do lose your job unexpectedly, having an emergency fund allows you to focus your efforts on a job hunt while still managing your monthly bills," she says.

Evaluate job offers very carefully. "A salary is only part of the compensation package," Arrasmith continues. "It's also important to evaluate health and life insurance, vacation and sick time, retirement benefits and the potential for professional growth." She encourages people to ask when new health insurance takes effect so there is no lapse in coverage.

"Given today's economy, I encourage people to be aware of downsizing in certain industries - and potential growth in others," Arrasmith continues. "Choosing to change jobs or switch careers is a very personal decision. But, it helps to be fully aware of the risks and benefits involved."

To learn more about preparing for a career change, contact Fifth Third at (866) 475-4201 or visit 53.com.