The Worst Times to Quit Your Job
There often comes a point during your time with a company where the newness has worn off and you’re ready to move on. The job you once loved is now a place you dread to go each day. Just about everyone in your office is getting on your nerves, and you want out. You might be itching to quit your job, but it’s important to take timing into account. Leaving your job at the wrong time could have negative long-lasting consequences.
Here are eight of the worst times to quit your job.
1. You’re expecting a baby or about to adopt
Do you have a bundle of joy on the way? Congratulations, but now is probably not the best time to hand in your resignation letter. You’ll need the additional income, so you can save up for childcare, diapers, food, and much more. And depending on how long you’ve worked for your employer, you might be eligible to receive time off from work, so you can care for your child. Don’t pass up benefits you might need later.
2. You might be laid off
If layoff rumors have been flying around, your best option might be to stick around. That doesn’t mean you shouldn’t be looking for a job, but it does mean you should refrain from quitting suddenly. If you do get laid off, you might be eligible to receive a severance package and hold on to your company health benefits a little bit longer. If you leave too soon, you could end up leaving money and benefits on the table.
3. You’re getting divorced
Divorce can be very expensive. You’re going to need a financial cushion, so you can pay your lawyers, pay down some debt, and possibly find a new place to live. Many people go into significant debt during a divorce, so you’ll need to be financially prepared. Quitting during a divorce will also add a tremendous amount of emotional stress to an already stressful situation. Your best bet is to wait until the dust has settled, squirrel away some savings, and then decide what you want to do.
4. You’re about to get promoted
Are you about to get promoted? Use this to your advantage. If you’re up for a promotion, you might want to rethink your plan. Getting a better title could help you get a better job down the road. You’ll also be in a position to ask for more money when it comes time to negotiate salary at the next job. Gain additional experience, learn a few new things, save the extra cash, and then make your next career move once you’ve gotten what you need from your current job.
5. You’re angry
Sometimes your co-workers or your boss will get you angry. It happens. However, this isn’t the best reason to leave in a huff. Once you calm down and clear your head, you’ll likely realize you made a mistake. You’ll also become aware that you just quit without another gig lined up. Your best bet is to take a break, step away from your desk, and go for a walk. The worst decisions are usually made when emotions are running high.
6. The job market is bad
Starting a new job during a shaky job market can be risky. If you leave your current job during a bad job market, you could be in for a rough ride. You might not want to move on until the economy gets stronger. Chances are higher you’ll end up losing your next job because of a layoff. And if you haven’t been at the new job very long, you might not be eligible for much of a severance beyond unused vacation and sick days.
7. You don’t have another job lined up
Leaving your current job without another one lined up could wreck your finances. Unless you’re facing an extreme situation at work, like you’re becoming physically ill due to work stress or you’re facing harassment, it’s best to stay put until you have another place to go. A financial curve ball could hit you at any time, so make it a priority to secure employment before you jump ship. Also work on beefing up your emergency savings account if funds are low.
8. You’re applying for an apartment
Landlords tend to have strict guidelines when it comes to approving a renter. During the application process for a new apartment, you will be asked about your employment status, among a list of other things. If you quit before your apartment search, this could make it difficult to secure your new abode. The landlord will want a potential tenant to have steady income. If you’re currently in between jobs, the landlord might be concerned about your ability to pay the rent each month.
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