The 10 Things to do Before Leaving your Job
Are you thinking of stepping away from your career to stay home with your child? It's a big decision—emotionally, professionally, and financially. Whether you're planning a temporary pause or something longer-term, these 10 proactive steps can help make the transition smoother
1. Ask for Written References
Secure a written reference from your supervisor and a colleague before you leave. Years down the road, you may find yourself wanting to go back to work. It can be challenging to track down former coworkers—or for them to recall your accomplishments in detail. Obtain those endorsements while your work is still fresh in their minds.
2. Save your Annual Reviews.
Your reviews hold valuable documentation of your performance, achievements, and growth over time. Be sure to organize and save them in case you need to update your résumé.
3. Practice Living on One Salary
Before giving notice, try living on just one salary for a few months. This will show you where the pressure points are and whether a full exit is feasible—or if a part-time option might be a better fit for now.
4. Track Your Spending
Knowing where your money goes is crucial. Use tools like Monarch, YNAB, Tiller, or your own Excel spreadsheet. On average, people share that it takes them about 30 minutes a month to review and update their expenses. If you absolutely cannot bring yourself to commit to something, consider hiring a financial coach to organize your transactions for you. I do not offer this service, but I can recommend professionals that do.
5. Build (or Rebuild) Your Emergency Fund
Aim to set aside at least 6 months' worth of essential expenses in a high-yield savings account. It will provide peace of mind during the transition—and protection if unexpected costs pop up.
6. Think Twice About Upgrading Your Home
You may not need more space right away. Babies are small (and so are their things). Consider staying in your current home until you outgrow it.
7. Review Your Car Situation
If your vehicles are older or unreliable, consider handling a replacement or down payment before shifting to one income. It is easier to qualify for financing while you're still employed.
8. Meet with a Financial Planner
A fee-only, fiduciary financial advisor can help you run the numbers and identify blind spots.
9. Protect Your Credit
Confirm that your name is on shared accounts—credit cards, loans, and your mortgage. If you've been financially "invisible" for years, it can be harder to qualify for credit on your own in the future if needed.
10. Stay Connected Professionally
Even if you love being home, you might miss work—or want to return when your child is older. Stay in touch with former colleagues, stay active on LinkedIn, or consider writing a blog or newsletter to keep your skills sharp.
Final Thought:
Leaving your job to stay home with your child is deeply personal—and can be a rewarding choice. With the proper preparation, you can reduce financial stress, maintain flexibility, and preserve your long-term career options.
Originally posted 8/8/2012.
Linda Rogers, CFP®, EA, MSBA is the owner and founder of Planning Within Reach, LLC (PWR). Originally from New Jersey, Linda services clients throughout San Diego county and nationwide. She leads the design of PWR's investment portfolios which utilize broad, low-cost investments that integrate environmentally, socially, and governance (ESG) factors.
Planning Within Reach, LLC (PWR) is a fee-only and fiduciary wealth management firm offering one-time comprehensive financial planning andongoing impact-focused investment management in San Diego and nationwide. PWR is a woman-owned firm that specializes in busy professionals and impact investors. Planning Within Reach, LLC and their advisors do not receive commissions and do not hold any insurance licenses or brokerage relationships.