Is quitting your job for you? Expert says to make sure you’re financially ready

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RALEIGH, N.C. (WNCN) – An estimated 15 million people resigned their jobs since April in what is being dubbed “The Great Resignation.”

The reasons vary, but finances and lifestyle are two of the primary reasons American workers are moving to perceived greener pastures.

Bobbi Rebell is a certified financial planner and personal finance expert with the debt-tracking app Tally.

Before you walk, or even think about walking, see what your current employer can do for you.

“Communicate with the company,” says Rebell. “People are more flexible and open these days. In a way, it is a really good time to be in the workforce.”

Rebell suggests talking to your employer about flexibility, working from home, a raise, even switching to a part-time or free-lance role. However, she cautions the last two often come with certain benefit concessions.

She also said that with so much change in the workforce you might discover your existing employer has plans for you in the works.

Also, do a self-audit before making a move. Look at your debt and your savings.

“Think about your responsibilities. Don’t be so quick to leap, and really think through what is your financial foundation.”

She also suggests a dry run.

“Try a few months living on one income, if you’re in a two-income household. See how that feels. Put the extra money in savings. Then you can think through, ‘is the right way to do it?'”

She also recommends doing your best to work your way out of debt, especially if you haven’t accumulated a large savings.

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