DO I QUIT MY DAY JOB?

                                                   A GREAT CHRISTIAN FINANCE SITE                                           
                                      F

Finances are my weakness. I struggle with spending money and poor budgeting....I am learning daily in this area and I would love to share a great site about finances with you! Click on the site above and make it part of your Favorites!

    TODAY'S WORD OF WISDOM ON FINANCES...CAN I AFFORD TO QUIT MY DAY JOB?
                                             
You’ve had enough with your job and are two steps from walking out and never coming back! Besides, you always wanted to ‘be your own boss’ and this might be the step you needed to get those entrepreneurial juices flowing … right?
Ever felt like that before? I’ve had jobs in the past where I’ve felt like quitting was the best solution to the problem. When you’re frustrated with your day job, it’s easy to think that life would be better if you just had the freedom to do what you want. Who wouldn’t want to make money with their passion?
But quitting your job to pursue your passion isn’t a decision that should be made on a whim or even in a week. It takes careful thought and time to weigh the pros and cons. So before you hand in your two weeks’ notice, take note of these suggestions.

You’ve given careful thought and planning for the change.

Give an honest answer for these questions. If you’re able to put your reasons down on paper, it’ll help you to overcome irrational decisions (like quitting your job after one frustrating day at work).

• Why do you want to change jobs?
• What are the risks to quitting and starting a new job?
• Would you do your dream job for free?

So how much time should you spend thinking through the consequences of quitting your job to pursue your passion? It depends, but I would recommend taking a few months to a year before you quit. If you’re still passionate about the change after 6 months to a year, you’re on your way to making a well thought out decision.

Have you hustled your dream job?

How do you know that you’ll love your new venture if you’re not already working your passion every night and weekend that you can? You know that something is important to you when you can wake up early every weekday before your day job so that you can put a few hours into your passion. When you come home from work, does your dream of working your passion keep you energized to the point of working a few more hours every night? If not, then I’d suggest that you revisit the first set of questions and take some more time before quitting your day job.

You’ve talked to someone else already doing it.

I think that one of the best ways to learn is through others’ mistakes and successes. Sure, trial and error are inevitable parts of being an entrepreneur, but there’s wisdom in seeking council from someone who has already done what you’re trying to do.

Do you have support from your family and friends?

If your spouse is supportive of the change and your family backs your decision, your confidence level to make the change will inevitably be higher. The exciting prospects of starting a business should never cause you to neglect the responsibility you have to take care of your family. Make a strong effort to keep your family first during the change and to be sensitive to their concerns about the uncertainty of changing jobs.

Is your emergency fund healthy?

This point is crucial. I would hope that you have your dream job lined up or have a steady flow of income from your passion to replace your current income. But the reality is that even though you may have all these things lined up, emergencies can (and will) happen. I would be most comfortable in having an emergency fund to cover 6 months to a year’s worth of expenses before I commit to quitting my job to pursue a passion full time.
Sometimes the biggest risk is not taking one. If you’re looking to make that jump into a new line of work that you’re passionate about, I think that’s awesome! It’s just critical that you’re honest with yourself and really have worked through the points mentioned above.
Have you ever quit your job to pursue your passion full time? What advice would you give to someone considering it? For those with questions about quitting your job, what concerns do you have about it?