Five Points To Ponder Before You Quit Your Job

Is your reason to leave your job stronger than your reason to continue in your job? If so, you have a valid reason to continue reading this. Before you take the big decision, you need to ponder over the bigger questions. Consider the following five points if you are nursing the thought of leaving your job.

Just don’t do it
If things are fine, just don’t quit. Yes, you have a concern, a question; ‘how about my passion?’ You can pursue it while you are still at your job. You may have many reasons to quit. But as long as you can look at the brighter side of holding a job, stay on. Things can take a nasty turn and all that rosy future you imagine can simply wither away. So, just don’t quit, if you can help it.

Take note of your monthly expenses
In the event of an irresistible urge to quit, keep this point in mind. List down your monthly expenses; remember, no amount is too paltry to be ignored. Consider everything ranging from your newspaper bill and daily grocery expenses to your weekly outing to swanky restaurants. This way, you can get to see how you spend your money and how, with a bit of planning, you can cut down on the expenses in a huge way.

Take your family’s consent
Quitting your job is not just about you. You have what you call it in corporate parlance – stakeholders – around you.  Your family as a whole will have to bear the brunt of decisions you take. Your children, your wife, your parents… all will be impacted by your decision. Bring them all around a table, discuss your plans, listen to their suggestions, and then, only then, take the call.

Cut down the cost of living
Practice minimalism and lean living at least a year before you quit your job. This way, you can save money which you need before you go all out on your dream project. You may be single or married, but cutting down on expenses is something you can always do.  Let’s take a look at how you can do it. How do you travel? If you constantly fly business class, it can leave a dent on your savings. If you get only the very best for you in terms of clothing, staying, dining or your idea of vacation is about spending time on foreign shores, your expenses will simply skyrocket. You always have less expensive alternatives that don’t compromise on quality. All you need is too look for it. As the saying goes, “seek, and ye shall find.”

Don’t borrow
Save as much money as you can, keep your expenses low and try to refrain from borrowing money.  Do you have existing debts? Pay them off. This way, you can have peace of mind having shrugged off a burden. Once you start generating cash you can borrow if a need arises, but till then, resist the urge. After all, do you like your business gobble up huge amounts of money even before you gain momentum?

Quitting a job is a major decision. As we have already stated, unless and until you feel that you’re absolutely ready to tread your own path, hold on to your job. Remember, quitting is easy, but its repercussions can be difficult and long-lasting.


SLA Financial Solutions is a Leading Advisory firm based out of Jaipur. We are amongst the top 5 Financial Advisory firm with a team of 20 + people. We have been awarded twice by CNBC as best Financial Advisor across North India.