Posted on Thursday 08 September 2016
You hate your job so much that you want to quit. You even hate it so much that you want to quit today. Of course, this can happen. However, are you prepared for this? Have you factored in your everyday expenses?
While it is your personal choice to decide when to quit a position, it is also important to realize this decision has to be owned. If quitting your job will put you in a bad financial situation, it may be best to hold on. You may have to sit and think twice about this.
Many Canadian families rely on both partners working. This means if one person decides to quit, there must be a strategy in place. Let's examine some thoughts.
If you're going to quit your job, you need to have a financial backup plan. Let's face it. No one can just up and quit work without dealing with some kind of financial distress.
So, to begin, you have to analyze your financial circumstances and determine if this is really the right year for you to quit. If you've been preparing for this for some time, then this is great. But if you have not, you need to make sure you have enough to sustain yourself for several months. This will alleviate a great deal of financial stress.
Right now, 47% of Canadians are committed to staying on track financially, which is great. This means that fewer people are making hasty work decisions, but of course, things still happen. So, if you intend to find a career that will help you gain a foothold over debt and assist you in meeting financial goals, right now may not be the best time.
The following 5 tips will prove helpful to Canadians who are unsure where to start, what they should be doing, and what needs should be in order when quitting.
Of course, it makes rational sense to cut back on your expenses when you quit your job. Even if you have a nest egg put aside, this can go fast with no income coming in. Once you've made that step into new territory, you have to itemize and make priorities.
You have to be willing to cut back on excessive items concerning food. You also have to be willing to go with generic brands on some items. But, of course, this is until you find that position you've been searching for. The below list will help you stay on task and keep the important things in order.