Many of us dream about quitting your current job and taking the next step in your career. However, it’s important that you quit your job right, whether you are leaving to work for a different company, or whether you are quitting the rat race for good to start your own business.

As you prepare to move on, there are two main aspects of your life and career that you need to address: the financial and the social.

Financial Considerations

Whenever possible, it’s a good idea to have a a financial plan in place. Before you quit your current job, make sure you have another job lined up. If you are quitting in order to start your own business, or to stay at home, you should have a plan for supporting yourself. Have you built up your emergency fund? Do you have a source of passive income? Can you work part-time while you get things off the ground?

A financial cushion is important if you don’t want your big career move to turn into a money catastrophe. Have your next job lined up, or be ready to cut back on expenses and live off your emergency fund or a reduced income. Think about your financial situation, and shore it up before you quit your current job.

Social Considerations

Don’t just assume that you’re covered just because your finances are ready for a career switch. You also need to think about the way you are leaving your job in terms of the social situation. If at all possible, it’s important to make sure that you maintain relationships with people at your old workplace. If you are starting a new job, retaining old ties can be helpful when you need references for the job beyond the new job. Additionally, your old contacts can come in handy if you find yourself needing a job down the road.

On top of that, your former co-workers and bosses might become your customers or clients if you are starting your own business. A good relationship can open doors, and provide you with business and career opportunities. Don’t be so quick to discount that. Here are some things to consider before you quit your job:

  • Provide the appropriate amount of notice before you leave.
  • Do your work up until you leave. Make sure projects are wrapped up if possible.
  • Train your replacement so that he or she can step in and do a good job.
  • Avoid saying negative things about co-workers and your bosses before you leave.
  • Be a morale booster until the end.
  • Ask if you can keep in touch with co-workers and bosses in the future. You might even be able to connect with them on LinkedIn.

Moving on in your career is an exciting step to take. However, you need to make sure that you aren’t hurting yourself more by the manner in which you quit. From having your finances sorted out, to making sure you leave your old job on good terms, it’s important to properly prepare for your future.