Looking to Quit Your Job? 8 Steps to Get It Right
There’s nothing wrong with wanting to quit your job. In fact, it could even be healthy! Just make sure that you’re ready for the next step.
1. Save Money
The best way to make sure that you’re set up to quit your job is to save money. Save as much (or as little) as you think you’ll need until you decide your next steps.
Experts say that three to six months’ worth of living expenses in savings can suffice, but some people even save up to a year’s worth of expenses. For me personally, I saved for three months of expenses because I had plans to open my own business. And don’t forget to save money for any expenses that you’ll have to pay on your own, like health insurance and retirement.
2. Don’t Acquire Any (More) Debt
In addition to saving money, work on keeping yourself out of any new debt. If you don’t have debt, try to keep it that way.
The more debt you have, the more money you have to save so you can pay it after you quit your job.
Try to pay off your debt in full or in part before you quit. Even if you can’t pay off all your debt right away, paying off a small amount could add a little more flexibility in the months after you quit your job.
3. Lower Expenses
Keeping expenses low means less money going out the door. Some of the easiest expenses to lower are your groceries, gas, and spending money. You can also cut your cable to lower expenses further. However, finding a way to lower your fixed expenses can also make an impact on your month-to-month spending.
Want a few more ways to lower your fixed expenses? Try moving to a smaller place (if you can) and shopping around for lower insurance premiums.
4. Keep Your Resume Updated
If you plan on quitting your job to search for a better one, it’s important to keep your resume updated.
A well-written resume could open more doors for you, and even allow you to be picky when it comes to choosing what job you want.
If you haven’t updated your resume in a while, take some time to fill in any gaps that you see; update it with relevant work information; add extra training or school that you’ve had; and make sure that your contact information is current.
5. Side Hustle
Even if you don’t plan on looking for another job right away, a side hustle could be a great way to make sure that you’re set up to quit your job. If you want to travel or eventually start your own business, an online side hustle could give you the flexibility and income you need.
Not sure what hustles to consider? Try blogging, freelance writing, coding, or even selling products, just to name a few good options. There are so many different side hustles that you can do to earn money, and all you have to do is find the one that works with your talents and needs.
If you start side hustling while you’re still employed in your full-time job, take the money that you earn from your side hustle and save it. This can help you build your savings quickly and invest in your business if you choose to go that route.
6. Quit The Right Way
Even if you never plan on going back to your current employer, it’s still crucial to avoid burning bridges. They may be the ones to give you a stellar recommendation to a job you’ve been eyeing, or even to welcome you back should you need to return.
7. Have A Plan
Having a plan could save you a lot of headache as you prepare to quit your job. If you’re looking to start a business, have your business plan ready to go before you quit.
You don’t have to do any extensive planning – simply writing out your goals and plans on a piece of paper should suffice.
This could help keep you on-track before, during, and after you quit your job. And it can also save you time on figuring things out.
8. Wing It
If you’ve already quit your job – or if you plan to depart soon – you can always wing it. While not optimal, winging your situation can help you take risks and open doors that you never thought possible.
For me, I didn’t leave my full-time job by choice. While I had planned on quitting, by the end, I was given an ultimatum: job or family. So, of course, I chose family. Since I wasn’t fully prepared, I decided to wing it and just go with the flow in starting my business. Instead of mapping out a master plan, I took whatever work came my way; took some time to find myself and my passion; and took small steps every day. In the end, it worked out for me.