Pay Bills In Advance When Quitting A Job With Nothing Lined Up

Pay Bills in Advance When Quitting a Job With Nothing Lined Up

There are a handful of reasons for leaving a full-time job with nothing lined up. Maybe you're switching careers. Maybe you're becoming a stay-at-home parent. Either way, to make the transition smoother for your finances, consider paying your bills in advance.

Photo by Alan Cleaver

Many people save a small cushion before they leave a job. This helps soften the financial blow of giving up your income stream, and it can make the process a lot less stressful. To make your move even more financially stable, MoneyNing suggests:

If you are able to pay your rent or mortgage, utilities, insurance, etc. in advance, you'll be in a solid position after you quit. The main thing people need to worry about when quitting is their cash flow. So give yourself enough cushion to pay bills late, or keep your cash flow solid, by paying your expenses in advance. Your bank account will thank you later.

It's almost like having a cushion for your cushion. It doesn't hurt to be a little extra prepared when you're giving up a full-time job. For more tips for financially transitioning from full-time, check out the full post at the link below.

Don't Quit Your Job Without Making These 5 Financial Moves [MoneyNing]


Comments

    Unless you're avoiding the temptation to spend cushion money on unnecessary things, I don't really see how $500 prepaid on bills and say $1500 saved is any different to $2000 saved. If anything, holding on to the money in your own account as long as possible gives you marginally better interest.

      That was my thought too. You've still got to have additional funds no matter what.

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