How to Quit Your Job and Survive

In this article, I am going to tell you about how I quit my engineering job a little under one full year ago, and I have been able to not die of starvation or other results of poverty. There are many things that I planned for and got right, and there are many things from which I had to learn the hard way. Here are some pro tips for how to quit your job and survive:

The Things to Do

Save up for 6 months' worth of expenses. Then save some more.

If there's one thing that I want you to take away from this article it's this: quitting your job to pursue a passion, take some time off, or to do whatever it is you want to be unemployed for is hard. Really hard. Preparing for that can make it easier. A lot easier.

Typically, people recommend saving up about 6 months' worth of expenses. Personally, I'd advise to save more. I don't know what your living situation will be as far as your income and expenses after quitting your job, but you can never perfectly predict the future. I saved up about 8 months' worth of expenses, and I wished I had saved up a little more.

Invest in courses that are reputable, informative, and relevant.

There are no shortcuts to making money with your own company. You still have to put in a lot of work. You still have to put in a lot of time. There is only one "shortcut" that can help accelerate you and your business into exponential growth. Instead of gathering information by learning over the years, purchase it. Exchange information for money instead of for time. One course that helped me immensely provided the information to speed up the process to get a drone pilot license.

Consider driving for rideshare or food delivery apps for supplemental income.

The whole point of this article is quitting your job. Sometimes, though, you might be in a pinch without your primary source of income. In cases like this, rideshare, food delivery apps, or even a part-time job can help you stay out of financial trouble.

Enjoy whatever you're doing. Like, really enjoy it. And don't stop.

I assume that whatever you quit your job for is very special or important to you. Otherwise, you probably wouldn't have voluntarily given up your income source to pursue it. If you really want to increase the longevity of what you are spending your time doing, it has to be something that you exceedingly enjoy, or something that provides for you financially (hopefully both). At the bare minimum, you should find some type of pleasure from either your day-to-day routine or from your progress to your end goal. If this was displeasing to you, why would you pursue it?

It's important that this takes up some serious real estate in your heart because if you give up, it is entirely possible for you to just reset all of the progress you've made. You can't give into the temptations of laziness and procrastination after you quit your job. The grind is real.

The Things Not to Do

"Oh it's just a small purchase, I have enough saved up for this."

Now, this is objectively, generally ok for a few small purchases. The issue with it isn't necessarily the purchases, or the finances required for it. The issue arises in the mindset. Giving in to one unnecessary purchase typically gives way to a second, and then a third, a fourth, etc. It's almost as though it were a gateway drug. Feeling the safety and security of a large amount in your savings account can trick you into believing you can afford a lot more than you actually can. Remember, once you quit your job, your main source of income is completely gone.

Quitting before your new business has an income.

This was something that I did myself. I quit my job before I was earning anything stable. Sure, I had some money coming in and there, but it was nowhere near what I needed to sustain my lifestyle. If I had been a little more patient instead of quitting my job at the time I did, I would have more comfortably saved my money for longer.

Rely only on your current friends.

Having friends is great. Oftentimes, your coworkers are some of your closest friends. However, once you quit your job you will be seeing them much less often, if at all. It is important to make friends outside of work. It is also very important to network with other people in your area/industry. Building connections that can provide you with future opportunities is very important. Generally speaking, the people who you meet outside of your job will be very different from your coworkers. This means you will meet new types of people, be introduced to new social circles, and have new experiences that you may never have had before. Networking is always important.

Rely too heavily on credit cards.

I'd be lying if I said I didn't use credit cards to help keep myself afloat when money started to run thin. Here's the thing, though. I opened a business credit card that had an offer for 0% interest for 12 months. I also opened a personal credit card that had an offer for 0% interest for 15 months. These cards extended the amount of time I had to pay things off. There are a couple reasons as to why I am suggesting caution with credit cards when you are in this position. First of all, you may be tempted to spend more than you might actually need. Secondly, if you put a lot of your living costs on your credit cards, your credit score will likely take a hit.

Conclusion

Quitting your job is exciting. It is also scary. The biggest takeaways I have for you, if you feel so inclined to quit your job and pursue something, as as follows:

Save up more money than you think you will need
Invest in courses that can accelerate the success of your new endeavors and help you learn
Consider finding a supplemental form of income to replace your primary source of income
Make sure that what you are sacrificing your job for is worth it, and don't give up or give in to temptation
Exercise discipline to control your spending, and limit it to pure necessities
If you are hoping to start a business, making some income from the business before committing to it full-time is hugely beneficial
Make new friends and network
Control your discipline with your spending on credit cards