When it comes to finding the right fit for your life, there is a lot to say about the kind of job you want to have. Whether you enjoy working long hours, or simply need to work part time, everyone is always looking for something different.
But what if that something different turns out to be the stuff of nightmares? How do you know how to find the best moment to quit your job?
Why is it So Hard to Quit?
Quitting your job can be a scary idea! But you shouldn’t have to work for years at a job that makes you miserable. There are a few right ways to quit, more than a few things to take into account before you do, as well as working out what your next move will be.
Things to Help You Know When You Can Quit Your Job!
In order to make things a little easier for you, as well as give you adequate tools for making a smoother transition professionally, here are a few tips on finding just the right moment to quit your job!
1) Do you have an Emergency Fund?
There’s no great time to lose a job. However, it does make it easier to move onto the next big thing for you if you know you have a little bit of a cushion as far as money goes. This means you need at least a few months’ worth of expenses saved up. Download one of those monthly budget spreadsheet templates and use it to help you save.
Emergency Fund Must Haves
Rent, food, utilities, phone, as well as other essentials should all be covered for at least three to six months by what is in your savings account. Maybe the new job doesn’t work out. The emergency fund allows you to get back out there and look for something different!
2) Do you have another job lined up?
One of the most important things to have set up before you quit your job is to KNOW, for CERTAIN, that you have another job already lined up. All in all, this might be the most telling moment where you can know that 100% you will be ok to quit the job you’re working at now.
Whether you take a week off in between, or you even start the next day, you should ALWAYS have another form of income ready for you if you are going to quit.
3) Are You Not Being Promoted?
One way to know you should definitely leave the company is if you’ve been passed over for a promotion. That other person totally deserved it, we’re sure!
However, if you’ve been with a company for a number of years, and you’re being looked over for promotions on multiple occasions, it’s time to say goodbye!
Not to mention if there is nowhere for you to be promoted to from where you are! Without the ability to earn more, or even have more challenging opportunities, then it’s time to hit the road.
4) Do You Know About Your Pensions, Vacations, and Insurance Plans?
There are a lot of bonuses that come with working for a company for a long time. This could mean vacation days saved up, this could be a great insurance plan, or even a 401(k) or pension plan that leads the way to your retirement. Once you have those things sorted out, then you can find a time to leave that company behind.
Quitting Your Job: A Check List for Insurance, Pensions, and Vacations
Make a list, check it twice
- Insurance: Have insurance coverage ready for when you leave your job before you quit. Also, get to know your company’s policy for after you quit. Because some policies last up to six months after you leave your position.
- Pensions/401(k): If you are able to transfer funds to a private pension fund, or a private 401(k) without having to withdraw the money then you are certainly set! Not only will you avoid those messy taxes, but you’ll be on your way out of that terrible old job!
- Vacations: Be certain to get the most out of all of your saved vacation days before you quit your current position! If you’ve got two weeks, then take those two weeks!
Your life isn’t a business movie. You’ve got to take care of these important things now, before you find the time to quit!
The Best Moment to Quit Your Job May Be NOW!
There may never be a GOOD moment to quit your job. However, if you’ve got everything in order then you’re probably at the BEST moment to quit.
You have enough saved up in your emergency fund, you have all of your vacations, pensions, insurance, etc. settled, and you even have another (better) job lined up. You’re all set! Starting on a new path won’t be that hard now that you have everything settled to quit your job!