How to Quit Without Having Another Job Lined Up

By JovieBaclayon

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Most people would never even consider quitting without having another job lined up, and even fewer would recommend it. A lot of people are just able to figure out their path in life while employed fulltime. But I quit, and two of my closest friends did, too. It’s definitely NOT a solution for everyone, and it requires a lot of strength, resolve and preparation from a financial, emotional and mental standpoint. When I went through it 3+ years ago, a lot of friends told me “I’m happy for you, but I think it’s the stupidest decision you’ve ever made.” Thanks. Love ya too. And last Friday on my friend’s last day of work, his coworkers still hadn’t accepted the fact that he had nothing lined up. Some insisted he was moving or taking time off to travel but nope, neither is true. He has nothing planned except to focus on figuring out his next step. To so many people, it makes absolutely no sense. What a lot of people don’t understand and are unable to recognize is that it’s not an easy decision for someone to make. It takes reaching a very deep, almost dark, level of dissatisfaction, fear and misery. It’s downright scary and the minute the words leave your mouth, you wish you could take them back. But inside, you know it’s the right thing to do. You know there is something more that you were meant to do with your life. And inside, you’re more afraid that if you don’t quit, you will never discover what it is. Three things you must have before becoming willfully unemployed:

Instructions

Difficulty: Moderate

Step1
Make Sure You Have a Solid Support System.
Surround yourself with people who will encourage you and validate your decision even if they don’t agree with it 100 percent. It’s important that they’re honest with you but not in a trying-to-scare-you kind of way. You’re already scared enough. It’s also important to know who not to tell. Not everyone needs to know every detail about your life, especially if you know you’ll be on the receiving end of a boatload of negativity.
Step2
Check Your Financial Situation.
This is when your emergency fund comes in handy. You need enough money to live off of for at least 2-3 months and/or a way to earn money on a part-time, contract or freelance basis. Also, be prepared to scale back your lifestyle for a while. That might mean postponing/canceling vacations, buying generic brands, cooking at home, taking public transportation, etc.
Step3
Feel Absolutely Certain That You're Doing the Right Thing.
You need to know – and I mean, really, really believe – that you’re going to come out on top. Chances are, you will experience emotional ups and downs once you’re willfully unemployed. Doubts will sink in. Anxiety. Fear. Temptation to run back to something unsatisfying. Trust and constantly remind yourself that you did the right thing and that you will be okay and happier than ever. The risk is worth the reward – and, man, did you take a BIG risk!

Tips & Warnings

  • It's critical that you have an idea about what industry or jobs you want to pursue. Quitting a fulltime job without having any direction at all will get you no where.
  • If you don't have direction: before you quit your fulltime gig, spend your weekends and evenings taking classes, volunteering, interning (yes, you CAN intern as an adult -- I did), researching or any other activities that might develop your career interests, expand your network or point you to a new industry and/or opportunities.
  • These tips were written with the single person in mind. If you have a significant other and/or financial dependents, you will likely require their approval before making this big of a move.
  • It is not recommended that you take out a loan to cover the costs of being unemployed. However, if you decide to go back to school, you may want to look into educational loans.

Comments

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chava812 said

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on 3/17/2008 Also be aware that if you go back to school for a graduate degree and come out making more than a certain amount of money(I believe it is currently at $65k) per year, the interest from your student loans is not tax-deductible. I'm still trying to fight that after 4 years, so if anyone knows better, now - as I'm working on my taxes yet again - is a good time to tell me!

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on 3/13/2008 Thanks for pointing out the contradiction.

Let me clarify that: It's my belief that educational loans are okay -- it's good debt at relatively lower interest rates. So if you quit your job to go back to school to enhance or change your career, take out an educational loan.

However, if you're just quitting your job and not going to school, taking a personal loan or using credit cards to cover your living expenses while unemployed is not recommended. Personal loans and credit cards have higher interest rates and will make your life more difficult since you'll be fighting to get out of debt. You need to save enough money or have an alternate source of income before you quit your job without having another job lined up.

diegodog said

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on 3/12/2008 The advice seemed to contract itself in the tips and warnings, by advising someone not to go into debt if they are quiting, but in the same breath, says it's OK to go into debt if you're going to school.

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eHow Article:  How to Quit Without Having Another Job Lined Up

eHow Member: JovieBaclayon

JovieBaclayon

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