How Do I Quit My Job?

Want to quit your job the right way? Just imagine putting in your two-week notice then waving a swift peace sign to your co-workers and boss-who hasn’t daydreamed about this at least once in their lives? Lack of advancement opportunities, pay increases, company politics, or an overall lack of fulfillment are often cited as “good” reasons for leaving a job and contribute the most to why many people opt to ditch the 9 to 5.

However, calling it quits should not be something that one takes lightly or does with minimal planning (trust me on this). Assuring that you’ve set yourself up to a great head start into a new direction with your career will make your transition much easier.

Assessing Savings – How much money do you have set aside? Whether or not your planning on working as you make your career transition, doing an inventory of your current savings and asset values is always a good idea. It can be crucial for emergency situations as well as a go-to source if your new revenue expectations don’t go as planned.

Determining New Income Streams – If you’re quitting a job to become a full-time entrepreneur having a savings is absolutely crucial if you’re not already accruing business revenue. Depending on your savings and its ability to hold you over financially, scooping up a part-time (if time permits) may be a good way to keep the lights on.

Determining A Monthly Budget – Preparing for a significant decrease in monthly income comes down to one thing-smart budgeting. Tally up all of your “necessary” monthly expenditures and make sure that you allow yourself some padding for miscellaneous or emergencies expenditures. You don’t want to sabotage your transition into your new work-free simply because you hadn’t calculated how much money you need to survive on.

Consider Health Insurance Implications – With new healthcare laws in effect in the U.S., not having health insurance is no longer an option-even if you don’t have a job.

These are questions that one must ask before venturing into the scary waters of unemployment.

In the end, remember – quitting your job is not a bad thing. You never know what are the odds unless you play the game by yourself, right?

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