In this video I go over the key things to consider before handing in your resignation notice, my personal tips on how to create a financial plan to quit your 9-5, a look into our finances, an explanation of how we prepared financially so I could quit my job without another job lined up, and lastly the MOST IMPORTANT thing to plan for before quitting your 9-5.
When I was deciding whether or not to quit my 9-5 job, I was paralyzed by the stress of how we would pay our bills.
I researched a ton and finally settled on a simple way to prepare financially to quit my 9-5 WITHOUT having another job lined up.
This “9-5 escape plan” isn’t full proof and depends on your personal financial situation and how willing you are to take financial risks.
But if you are miserable in your 9-5 and it’s taking it’s toll on your health, quitting without another job lined up may be your only option.
Let me know in the comments below how you've been doing ♡
xx Paige
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Timestamps:
0:00 Intro
0:54 Key things to consider before putting in your resignation notice
1:09 Health insurance costs
2:37 401K vesting period
3:43 Bonus payment posting dates
4:44 How to create your own financial plan to leave your 9-5 job
4:53 How many months of expenses to save
5:22 How will your expenses change naturally after quitting
5:49 What expenses can you purposefully cut out?
9:24 Save up for large expenses before quitting
9:48 Move somewhere with a lower cost of living
10:10 Things to consider before deciding to move after quitting
12:34 How to create a backup plan for if you can’t find a new job
15:03 Deep dive into our financial situation and budget
15:18 Intro to You Need a Budget (YNAB)
15:47 Income background
16:23 Our monthly average expenses
17:09 What categories we budget for
18:02 Which categories we included when deciding on our average monthly expenses post quitting
19:03 How many months of expenses we saved for and why
19:56 How much we planned financially before I put in my resignation
20:28 What our financial backup plan looks like
22:24 Ideas to increase your financial backup plan
23:09 How much I make doing gig work
24:09 The most important thing to plan for when quitting your job
24:56 Setting a timeline for your recovery
25:20 Give yourself a full week to do nothing
25:51 Create your recovery plan
26:51 Don’t push yourself too hard and fall back into old patterns
27:41 I’m here if you need me!
Music:
Music by CFEQ - House roast - thmatc.co/?l=F9B90D1D
Music by Naomi - The Coffee Shop - thmatc.co/?l=0109401D
Music by Naomi - Clouds - thmatc.co/?l=D3FDB42F
Music by ninjoi. - Where Do I Go - thmatc.co/?l=CAD3E0B6
Music by Juan Sánchez - Touch & Sound - thmatc.co/?l=0A6E3CF4
#quittingmyjob #burnout #financialplan