Quitting your job isn’t easy with the ongoing health and economic crisis. Almost every second individual is worried about their future and source of income. But irrespective of the current crisis, there is no assurance of job security in today’s corporate world.
One needs to have an additional source of income as a back-up that should be consistent and sufficient to provide long term returns. And earning it from the comfort of your home would be a bonus.
So, let’s see how to quit your job and work from home and earn money that can satisfy your day-to-day needs and also allow you to achieve your financial dreams as well.
- Poor Management/Horrible bosses: There is an old saying that almost 90% of the employees want to leave their direct managers/employer and not employment.
- Low salary/Under-payment: With the rising AI (Artificial Intelligence) and automation being adopted by the organizations, most of us are overburdened with additional responsibilities but remain underpaid.
- Inconvenient traveling: Your non-productive traveling hours to the office and long snarls of everyday traffic adds to the agony of quitting the job.
- No work-life balance: You miss spending enough time with your family and sometimes have to work on weekends as well that leaves you and your loved ones frustrated.
The reasons that prompt employers to make you quit your job:
- Cost Reduction: Cost-cutting has become a part of every organization’s annual resolution and the first fatality under cost reduction comes through employee lay-offs.
- Automation: More and more organizations are adopting the innovative ways of automating their processes which will result in less manual work with fewer employees.
- Outsourcing: Outsourcing is another way of recruiting people through third parties and train them to develop the same skill sets that work at much lower rates compared to you.
The above scenarios are self-explanatory and I am sure most of us are aware and have witnessed themselves with their employers.
As an individual, we have no other choice but to continue with our jobs that are undesirable and remain the only option to suffice our standard of living indebted with bills, mortgages, fees, etcetera.
For organizations, this is the common trend that is being followed to survive the competition and be ready to face unforeseen challenges in the future.
Therefore, it is of the utmost importance to create a back-up in the event of quitting/losing your source of income. But you can’t quit the job upfront. You need proper planning and have to consider some important factors before making a big decision.
- Start saving: If you are serious about quitting your job in the near future, ensure to have savings that should be enough to cover your day-to-day expenses for at least 2 years.
- Pay Mortgages: If you have mortgaged your home, consider the number of installments that you will have bear post quitting your job. It is advisable to clear the mortgage or at least keep making partial prepayments that will save your interest.
- Cover School fees: If you have children, you don’t want their education to be disrupted due to the non-payment of fees. Calculate and spare the amount required to be paid for the next couple of years or if possible pay-off the fees for the whole academic year in advance.
- Be Insured: Make sure to have the necessary insurances in place for any unfortunate event. A health insurance, vehicle insurance, and property insurance are a must to cover the damages (if any) that may otherwise disturb your overall savings.
- Miscellaneous Expenses: Keep aside some amount of money as a backup that may come handy in un-calculated risks or personal vacationing/holidays.
Needless to say, you should not consider quitting your job unless you fulfill at least the first three criteria from the above list.
What to do when you plan to quit/have already quit your job?
- You can opt for early retirement plans from various financial institutions that guide you on investing money for a limited period and offer a good amount of returns for the next 20 years.
- You can invest in stocks provided you have sufficient knowledge and experience or do so under the guidance of professionals. But remember, the stock investment is subject to market risks which you should be ready to bear.
- You can earn interest on your savings or fixed deposits with the banks that have certain age of locking periods before you want to withdraw it.
As the best alternative to the above income options, you would love to quit your job and work from home if you get answers to the following questions:
- What if you get a chance to become an entrepreneur?
- What if you get an authority to dictate your terms online?
- What if you become your own boss and earn money?
- What if you get a platform that teaches and carry you through the path of a successful online journey?
- What if you can do all this along with your existing job?
Sounds interesting? Indeed, there is a way of earning money by working from home with minimum or no investment.
Amazon, Walmart, E bay, etcetera are willing to pay you money in hundreds and thousands of dollars every month for your hard work and dedication. Yes, you read it right. These E-commerce giants are dependent on people like us to give information and promote their products and earn consistent revenue in commissions.
What do you have to do? Just build a website and do Affiliate Marketing.
Seems too much of a task? Don’t worry, you just need to have a computer/laptop with an internet connection, a basic understanding of the internet, and an hour in a day to build an online business. Remember, its not easy money.
With continuous hard work, efforts, dedication, and patience you will start seeing monetary results in six months’ time that gradually grows into consistent income enough to replace your existing job.
There is a reputed and trustworthy platform that helps you in teaching every aspect of affiliate marketing and building a website within half-a-minute. You just have to follow the training and implement the steps.
Yes, absolutely right. You can join as a free starter member for 7 days to access the initial training and build 1 website of your choice absolutely free of cost to experience a new way of earning.
But why would someone do this free of cost?
Affiliate Marketing is a step-by-step path to success. Some initial steps are prominent to build your online presence which is offered free of cost by this platform of experts. It has a lucrative and proven method of earning money online and every increasing member enhances the reputation and trust of this website in the internet world.
An overview of Wealthy Affiliate: Your path to successful online business
Wealthy Affiliate is an online training platform with more than 15 years of knowledge and experience in making affiliate marketers build an online business. Apart from free starter membership it also has a premium membership program that offers a variety of training materials, multiple websites, industry expertise, technical and community support, and much more to establish you as an online entrepreneur.
There are millions of users like you and me who had no idea of affiliate marketing and are now part of this platform earning thousands of dollars in revenue consistently every month with their hard work and dedication.
There are no false promises of making easy money, getting rich overnight, but proper training, guidance, and support make it stand apart in terms of delivering your high-aimed goals of earning good money with minimum investment.
The Internet is growing rapidly with every passing day and presently has over 4 billion users across the globe. Experts believe, online business is the future of the digitization era and more and more people will adopt online ways of spending and earning money.
You need to be smart in understanding this and take action by being part of this changing era.
If you have any questions or need help, please feel free to leave your comments below and I would be more than happy to come back to you as soon as possible.