There’s nothing like a pandemic to make you focus on what’s important in life. Is your job worth risking your health for? Does it actually compromise your values and stop you from being the person you know you can be? Do you feel like you are worth more than your salary?

If any of these questions sound familiar, maybe it’s time for a change. But before you give your boss the finger and walk out for good, can you actually afford to? 

Should you actually quit your job?

Although quitting your job takes only a few minutes, the preparation needs to start long before. An irrational response to workplace stress is just to walk out. These kinds of decisions rarely benefit you long term and without a proper exit plan you could end up begging for your old job back. 

Think long and hard about whether your job is compatible with your values. These goals are different for everyone but usually they centre around finding fulfilment, intellectual stimulation and fair payment for the work you do. If you aren’t getting any of this from your work, it’s time to make a risk assessment for leaving. 

Make two columns: one for problems and another for solutions. Make sure you plan every negative consequence and pair it with a solution to get by. 

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Build your independence fund: 

The decision to quit your job is free but very expensive. Leaving will give you absolute freedom, but it also means paying for your monthly expenses, including insurance, retirement and investments without regular income. Quitting with no action plan would just mean taking on debt. That’s why you should think about building up an independence fund. 

An independence fund is a sum of money that empowers you to walk away from any situation in life, without compromising your stability. If you don’t like your boss? Resign on the spot. Want to travel the world for a year? Go ahead and book the tickets. With an independence fund you gain the power and freedom to do exactly what you want. 

The size of your independence fund depends on your lifestyle. If you’re prepared to learn to live with less, or are only looking for a short break between jobs, then you can get away with only three to six month’s worth of monthly expenses. But if you’re looking for a real opportunity to reset, retrain or travel then 12 months’ expenses is where you should aim.  

If you change your mind last minute:

You might decide you don’t want to quit after all. But that’s not a bad thing. Having an independence fund gives you fantastic negotiating power at work, knowing that the second you don’t like what you’re doing, or feel undervalued, you can leave without any consequences whatsoever. Your fund will give you more confidence knowing that you have the financial backing to follow your dreams and that you did it all yourself. 

Nuri is the account to invest, save and grow your money. We believe that everyone has the power to build a better financial future, so we’re making it easier than ever before to grow your wealth. Whether you want to sustainably quit your terrible job, create a monthly savings plan or invest your way to financial freedom, Nuri has got your back. Welcome to new reality banking. Your future awaits.