Can you afford to quit your job? Here’s how to be financially prepared
Are you thinking of quitting your job so you can travel the world?
In the United States, there is no federal law regarding paid vacation minimums. For most Americans, it’s difficult to negotiate paid (or even unpaid) time off to travel long-term.
Even with remote work on the rise, some people are quitting their jobs so they can travel abroad.
And right now, you’re on Cloud 9 daydreaming about quitting your job.
You’re reading countless stories about others who managed to leave their careers to work for themselves or travel abroad, work abroad, — or even better, run a business whilst they travel the world.
You dream of working from home and on your own terms.
But you have a million questions running through your head:
- Can I do this?
- Am I financially prepared to do this?
- Can I travel the world whilst working?
- …and how soon can I do this?
Maybe you’ve read a horror story about someone who’s quit their job with no idea how to bring in income. They do something like move abroad and, with no idea how they’ll make money, they run their savings dry.
Speaking from experience, there is also a large community of people who support themselves whilst making a living online. These same people do not let the horror stories scare them away from their preferred lifestyle.
The world of working online from home surprised me when I first discovered it in 2017. Before then, I thought “freelance” or “self-employed” was a synonym for “unemployed.” Since then, I’ve started a freelance business of my own and have visited countries like Thailand, Vietnam, France, England, New Zealand, and Japan.
Related Reading: Living Abroad Gave Me the Space to Solve My Problems
Before I moved abroad, I prepared a safety net that would keep me going during the turbulent ride of freelancing. I honestly love talking about money, so…here are three simple steps you can take to financially prepare to quit your job.