Categories: Cash Flow

Biggest financial Mistakes – Leaving Job

We are doing a series of articles about the biggest financial mistakes that people make. The first one that we wanted to cover was leaving a job before you have another job to go to.

This happens to a lot of people for various reasons. They leave a job because they are not happy with the company, the work or the boss and one day they cannot take it any longer and just quit on the spot with no job to go to. In addition they are not eligible for any benefits, separation pay, downsizing bonuses etc. Just quitting can mean they lose a lot of money from not being able to take advantage of these benefits.

Finding another Job

It is also much more difficult to find a job when you are out of work. Employers would rather hire someone who already has a job that they have to entice to come work for them. Once you are not working, potential employers wonder why you are not working and what might be wrong with you. Find a job, then quit if you must.

Many people get a sense of impending layoffs. They tend to wait until they get laid off to look for a job because they want to deal with one thing at a time and they want to take advantage of their benefits that they may be eligible for when they are laid off. While you do not want to lose benefits, it is a good idea to begin lining up another job before you get laid off. This is the best of all scenarios. You do not lose any pay, you get the benefits of the layoff and you start work at another job right away!

Biggest financial Mistakes – Leave at the Best Time For You

Before you quit take a few minutes and check on the status of any bonuses, raises, stock options and special plans that might be available. Often working up to or past the dates when these things become active can mean that you save yourself thousands of dollars.

Even just working past year end can mean you are eligible for the year end bonus. Not to mention the fact that it is tough to find a job around the holidays.

For more posts about financial mistakes that consumers can avoid, click here.

ernie

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ernie

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