Quitting is a time, but quitting your job can be costly right now
This story is partan online community dedicated to financial empowerment and advice, led by CNET Editor at Large and So Money podcast host Farnoosh Torabi.
Welcome to So Money Hot Mic, a weekly column on my latest financial thoughts.
My first full-time job was the worst.
I was hired as an editorial assistant at a major magazine in New York. On paper, it was great. But in reality, the job lacked the training and mentorship I needed to learn and thrive. I was young, inexperienced, and too nervous to speak in a newsroom full of award-winning reporters.
But I tried. A few of my locations have been printed. Unfortunately, they had the occasional error. I’ve described dollar stores before as places where “everything costs a dollar”. But, my friends, not everything costs a dollar at the Dollar Tree, does it?
Good. This mistake put me on probation. If I screwed up again, I would have to return my badge.
I wanted so badly to quit. But I couldn’t. The job paid $18 an hour with a free dinner if I stayed typing at my desk after 7 p.m. I had student loans. I had rent. I couldn’t beg my parents for more help than they had already given me.
Read the headlines on theand the recent trend made me remember this story. Additionally, a new survey reveals that a majority of executives believe workers will quit because they feel disconnected from their colleagues and team culture.
Sometimes I wish I had the nerve to quit that job right away. But my fear of financial instability was far greater than my fear of staying in an unsatisfying job. My instincts were telling me to act but not to rush. I told myself to create a workable plan, be patient, and only control what I could control. And for that, I am grateful.
If you’re thinking about quitting because you’re overworked, burnt out, underpaid, unmotivated, or all of that, I know that feeling. But quitting smoking can be a costly and costly decision, especially in the middle.
I’ve had conversations with experts on my So Money podcast who share this sentiment and offer important advice. Before you unplug, here are some steps they think could save you money, time, and regret.
Need limits? express yourself
Quietly quitting, the notion of setting boundaries at work and not going overboard, wouldn’t have served me well at the time. Not for the young woman about to be fired.
If it’s essential to address your limits at work, why do it? calmly? Your employer and co-workers need to know if and when you’re being pushed (since they probably had something to do with it). Staying mum is not a way to hold employers accountable for their actions.
“One of my favorite things about well-defined boundaries is that you empower others to solve problems on their own, instead of being the savior,” said Cait Donovan, host of FRIED: The Burnout Podcast and guest on my So Money podcast.
Career coach and author of You Turn Ashley Stahl echoed Donovan’s advice when she stopped by on my podcast this week. She offered the following scenario for those who want to have a constructive conversation about their limits at work. “Sit down with your boss and say, ‘Hey, here’s what I have on deck. Here is my list of priorities. Here’s what I can do now… Can you help me refactor this if you want me to change my priorities?
Burned? Quitting may not be the solution
“Quitting your job just to get away from things isn’t always the answer,” Donovan said.
There are exceptions, of course. If your working conditions are toxic or you are being bullied or harassed, then quitting is sometimes the only solution. It’s more than okay – it’s crucial – to give yourself permission to leave without all your finances in line. In that case, you might consider a temp job, which will free you from your current employer, save you time, and provide you with income and benefits to ease your transition.
But the grass is not always greener. Keep in mind that a new job might have some of the same old issues. A 2022 Joblist survey found that a quarter of those who left their previous job regret their decision, and more than 40% say their new job does not meet their expectations.
If you’re not ready to quit, talking to your manager can be a good first step. “But if you’re just trying to cope and you don’t know how, get help,” Donovan said. Before you reach a breaking point, consider options that could improve your work situation, including adjusting your hours or scope of work, training for a new role in the company, or applying for a new job. ‘increase. You might also consider taking an extended leave.
If you think the cause of your burnout is because you feel pressured to give too much, overcompensate, or overthink, talking to a therapist may be the smartest way to address the root of the problem, said Donovan. Before making a transition, it is important to ask yourself why you are pushing so hard. Is it because you’ve been taught that’s the only way to succeed or get ahead? If so, she said, “You can change careers if you want, but it’s going to come with you.”
Don’t like work? Beware the trap of passion
If you’re itching to quit because you’re no longer passionate about your work and would like to explore a new area, that’s fine. But sometimes our passion isn’t meant to be a job. “Don’t do what you love, do what you are,” Stahl says. “I love shopping, but I’d be a horrible fashion designer.”
In other words, choose a career based on your skills, especially those that cannot be outsourced or replaced by robots. This may be the very job you have now.
To find more happiness in your life, you may need to look beyond your 9 to 5. “I don’t know if my job is completely aligned with my purpose,” Stahl says. “That’s where I contribute and use my skills and hone them and hone them, and it feels good.”
But our relationships and personal experiences outside of work are where we can pursue our passions. “This idea of putting pressure on yourself to like what you’re doing also deregulates a lot of people and forces them into these mental health spirals,” Stahl said. “Just take that pressure off.”
As for me, I stayed in this writer’s job for a few more months because, in addition to not having enough savings to be unemployed, I decided that it was better not go down in flames. As big as New York is, news travels fast. I wanted to be valued as a dedicated journalist who worked hard and learned from his mistakes. I wanted the job to be a stepping stone and provide me with a good reference for the next position. As difficult as it was, I insisted on getting better. I became a fact-checking ninja. I proactively sought out mentors to teach me the ropes. I arrived early to deliver more homework. I ended up regaining the confidence of my managers and I gained confidence in myself.
And while doing all of that, I started applying for new roles and managed to land my next job somewhere else before the end of the year. Your experience may not match mine, but taking the time to quit smoking gave me the financial stability I needed. It also didn’t hurt that I was able to leave on a high note with the dollar store debacle now just a fun memory.