Chelsea: Hi, I'm Chelsea

Lauren: And I'm Lauren

Chelsea: And we are...

Together: The Financial Diet!

Chelsea: And today we're going to be talking about something that's actually the final step in our series about following your dreams without ruining your life and that's quitting your job because obviously whenever you're taking the leap. Starting something new, you're going to have to say goodbye to the old and leave, but we believe there's a smarter way to do it and a way that doesn't either put you into financial danger or make your old employer hate you. 

Lauren: And I'm going to be talking about my own experience with how I transitioned to one job to a new opportunity and how I quit the former in a responsible way. 

Chelsea: There are tons of valid reasons to quit a job. Maybe you got a new job offer, or you have life constraints, or you just want to go out on your own and they're all fine. It just matters that you know that it's the right thing for you. But there is a responsibility on your part to make it okay for the people who might not be so excited about that news, ie. your current employer. 

Lauren: Right, and if you've decided that leaving your current job is something that's in the cards for you there are ways to quit responsibly that will make you feel more comfortable and financially prepared. 

Chelsea: Now as someone who quit many teenage/college jobs in a spectacularly immature fashion, I know there's a right and wrong way to do it. The wrong way was probably when I quit my coffee shop job by calling the owner of the coffee shop at 5 o'clock in the morning when I was still out partying that night to be like "I'm not coming in today or ever" 

Lauren: *Laughing* I'm done

Chelsea: I'm done with this job and obviously that decision was terrible for a number of reasons. I was, you know, drinking, I was out with friends, it was not a clear decision. And it was also terrible for him. He was now- had to scramble to find someone to do the job. So, obviously that's not an ideal way to quit, but there are mature ways to go about it. 

Lauren: Right and I mean, for me it was so difficult when I walked into my boss's office to quit. It just feels like the most difficult thing in the world to just say "I'm leaving, I quit" like feels like a bad breakup. 

Chelsea: And breakups are terrible even if they're the right thing. Like, no one wants to dump someone or be dumped. 

Lauren: So for me I feel like I've personally left each job on a good note and to me there are 4 essential tips that everyone should keep in mind when they're quitting their job. So, my first 2 tips apply to individuals who are leaving full time positions for other full time positions. The 3rd tip is for people who are leaving full time positions for less secure positions and the last tip just applies to everyone and it can be beneficial for everyone. The first tip is, be as open and honest as you can with your boss for your reasons for leaving. 

Chelsea: No one wants to leave a job followed by a trail of lies that you have to keep track of, so be honest with people even if you think they might judge you or might not agree that it was the right decision. It's more important that you have an honest relationship with them then that you get their approval. 

Lauren: And be honest with your supervisor and you can be critical without being cruel. If you've noticed shortcomings amongst senior management or projects that were derailed unnecessarily, it's your chance to speak up and provide useful feedback and it will be greatly appreciated. 

Chelsea: It's your responsibility to make the job better for the person who is coming in the door after than it was for you. 

Lauren: The next tip is give your team, office, or company advance notice that your leaving. I gave my job nearly a months notice before I left to come work at TFD and it was really appreciated. And I realized that not everyone's in the same position to do this, but you should at least be the minimum that your company asks for. Most of the time it's 2 weeks. 

Chelsea: And remember that the choice you make here has a ripple effect on all of the people around you. It has to do with your current coworkers who are still staying behind as well as the people coming in after you. So you don't want to leave them to clean up a mess. 

Lauren: The next tip is to create a financial plan for yourself that your building up before you give your notice. If you're leaving a steady salary position for something less secure, like going full time freelance or starting your own business, know that the money that you've saved up goes very quickly. 

Chelsea: Remember that you should be realistically doubling your emergency fund, which is usually about 6 months if your planning on leaving your steady job without something steady to replace it. Now that probably means about 2 years of working a side job to help save and saving very diligently, but it definitely can be done. And if you're looking to leave one steady job for another one, you should still save up a cushion for that time period if only because you know you're going to be doing a lot of celebrating in that time. 

Lauren: The last over all tip is to always leave on a good note. I can't stress how important it is to leave a job on friendly terms. I've heard more horror stories about people leaving jobs on the worst sour note possible and it's really bad. It's really dangerous to have people in the world with this ill will towards you like you're some bad seed. It's just not a good look, it's not a good move. It's crucial to be nice to everyone you meet, to work hard, and to stay humble. You want your own co workers to remember you as a team player and leave with their respect. And it's really hard to do that when you spend the last 2 weeks at your job bragging about your new, really jacked up, high salary and the fact that you can't wait to leave the place in the dust. 

Chelsea: And make sure to go back every now and again and give like a little TLC to those old relationships because a) you never know when you might be able to go to an old employer for some extra work to help cover your bills, like some freelance stuff or whatever. And b) it's just never ever a good idea to say negative things about an old employer, to bad mouth them, to tell their secrets, anything like that because if you're capable of doing it to them, then who are you capable of doing it to? So just always make sure that you keep those relationships as positive as possible and that no matter how much you want to bad mouth and gossip, you don't do it. It's never in your interest to burn that bridge and remember that building your strategy for your next job it just as important as how you leave the last one.

Lauren: So thanks for watching and don't forget to hit the subscribe button and go to TheFinancialDiet.com to learn more...

Together: Bye!