Like many workers, you may be tired of going to work every week and not benefitting from more than earning a paycheck. However, you may hesitate to quit your job without having another position lined up. Fortunately, quitting your job and working for yourself may be the best thing for you. So when should you quit your job without a job lined up? Read on to find out.
Can You Become a Freelancer/Independent Contractor?
If you aren’t already taking on side work in your field as a freelancer or independent contractor, now is the time to start. As demand for your products or services increases, so will your income.
When the majority of your time away from your job is being invested in your quickly expanding side business, you’re consistently raising your rates, and you can make more money by running your business full time, it may be best to quit your job and focus solely on your freelance work. You’ll enjoy the flexibility of adhering to your own schedule, choosing which projects you take on, and setting your income level to fit your lifestyle.
How Do You Handle Uncertainty?
If you’re able to handle the uncertainty of not having a full-time job, then you may want to become an independent contractor. Anxiety will always be present in your life. You simply have to embrace it and take action to eliminate it when anxiety shows up.
Anxiety comes from negative thoughts and images in your head. To combat that, focus on positive thoughts and images of what you want to achieve. Take daily steps toward reaching your goals. Use your feelings of anxiety for your greater good. Every time you take steps toward achieving what you want, you will feel less anxious and more in control over your income and your life.
Can You Cover Expenses Without an Income?
Before quitting your job and becoming a freelancer, make sure your finances are in order. Create a list of your monthly expenses, such as housing, utilities, food, and other obligations. Be sure you include health insurance and other benefits that may be ending once you quit your job. Determine which areas you can cut your spending in and start doing so immediately. Ensure that you have an emergency fund to cover all of your expenses for at least six months, if your work does not bring in enough income right away.
Follow these guidelines to make sure you’re ready to quit your job before actually doing so. For further assistance with your career path, get in touch with the financial compliance recruiters at CarterWill Search & Flex today!