Tuesday, May 28, 2013

Can You Afford to Quit Your Day Job?

Is your every day job not enough for you? Are you sure you are in the right occupation? If you answered no to either of these questions, maybe you should consider moving on from your current job. Before making a decision as serious as removing yourself from a position that puts food on your table, you should consider the following. If your day job is your only source of income, you should not resign until you have an offer for a different job or some other form of making money. Calculate your daily expenses and construct financial statements to lay out how much money you make at your job, how much money you have, and your different sources of money going in and out of your bank account. Do not downgrade to a position where you would make half as much as you would at the job you have now. In the long-run, the new occupation will not be worth leaving your old one if your income cannot pay for your weekly groceries.

To read more about what to do before quitting your job, click here.