Thursday, April 06, 2006

Bump in the road

I quit my job! It feels liberating and terrifying at the same time. I tried to look for a replacement job while I was still working at my current job but it was just too difficult. I don't know how people do it, trying to sneak phone calls in during business hours and making excuses to go on interviews. Regardless, I gave my two weeks notice and will soon be joining the ranks of the unemployed.

I kind of viewed my job as an abusive relationship. I knew it was bad for me but I depended on it to give me security and even though most days I was so stressed out that I could vomit (sorry for that mental picture), I was comfortable there. I tried to stick it out until I was debt free but 4 months seemed so far away. Before you get all up in arms let me make a few points:

1) What is more important? Being happy or being debt free? Being debt free will come in time but living your life in misery will have long term consequences. Think about how stress can take years off of your life and cause all kinds of diseases like heart attacks and stroke. I had to make the choice to take back my sanity and slow down the debt reduction for just a little while.

2) When I transferred my credit card balance to a card with a 0% interest I stopped making payments directly to my credit card (except for the minimum payment) and started socking the additional money into a high yield savings account. As a result, I have a 3-4 month reserve of cash that will tide me over until I find another job.

3) I am not paying any interest on my debt. I have until January of next year to pay it back without paying any interest on it. Even if I can't pay it back by next January I can always find another 0% interest offer to take advantage of. I'm not saying that is what I am planning on doing or that I would like to do it but if worse comes to worst it is a possibility.

4) There is a good job prospect that kind of fell into my lap the day that I gave my notice. If it works out, I could be working again right away and it won't affect the debt repayment at all.

5) Heaven forbid if I don't find another job in 3-4 months I can always go back to school full time.

I vow not to increase my credit card debt while I am looking for another job and still feel that I can reach my original goal of being debt free in 2 years. This will just make the journey that much more interesting!

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11 comments:

Anonymous said...

I understand how you felt about the job. I had one I doggedly tolerated for two years. The last year on the job produced evenings spent nursing a daily migraine and eventually an ulcer. When one starts to have psychosomatic side effects, it's long past time to resign.

Hope you find something you can enjoy soon.

LeighAnn said...

I admire you. I will stay in a job for years and years even when I hate it.

Luckily I like my job now. But if I didn't, I would probably stay.

Good for you!

J. said...

Congrats on quitting your job!

Amdollar said...
This comment has been removed by a blog administrator.
Amdollar said...

Whether it was a good choice or not, I applaud you for taking the leap. Other doors will open for you, this is a certainty. How long were you at your job? Good luck with your jobhunt!

Anonymous said...

There is no doubt your courage will bring you good Karma! Congratulations on quitting your job! Life is full of surprises and health and peace of mind should always be a priority.

kmac said...

Sometimes, you have to do things just for you. At least you have some money put aside to live on! That's awesome!

Good luck -

Debt Hater said...

Well good for you having money saved up and knowing when to give up on a bad situation. I know you'll be fine! Keep us posted!

debt monster said...

Good for you for quiting. I have come to a point where I want to quit my job everyday. I have been there almost 8 years and get paid too good. It hard trying to find a new job when you are working but I am going to work on my resume and start trying to move on. I still have 25K in debt I need to get rid off then I can breathe a bit easier. I also make more than my husband so it would be a pretty big hit if I quit instead of him.

Good luck finding a new job. Keep us posted and let us know if you have any good tips.

Flexo said...

Congratulations for taking the leap. Looking for a job is in itself a full-time job. It's very hard to do when you still have 9-5 responsibilities. The break from work will allow you to focus and something will come quickly.

contrary1 said...

I was encouraged to read your post. I have given my notice too, will be done in July. I alternate between being VERY relieved (my job is beyond stressful, like walking on broken glass all the time) and being extremely anxious about what am I going to do after July???
I hope I'm as prepared as you are for my transition.......best of luck with yours, I'll be following along here!