Image courtesy of Steven Depolo
Image courtesy of Steven Depolo

There are many people that would love to leave their jobs. The stress of the work or the fact that they have a long commute or do not have enough time to see friends, family or take part in hobbies could be getting too much. It may just be that the job is not fun. However, many people just cannot afford to give up work or even to work less hours than they do at the moment and so cannot see a way of leaving their job so that they can be happier.

It can feel like a dream imagining that you could leave your job and still manage financially so that you could have a less stress and more time to do the things that you want. It is wise to firstly make sure that the thing that you are replacing work with, perhaps a new business, self-employment or freelance work will pay enough income with less hours than what you were doing before. If it does not, then you could find that you will actually be more stressed and have less time than you did before.

It is therefore important to make sure that you have something to go to which will give you the life that you want. It could be that you want is impossible, you may not be able to have more free time, less stressful work and still get the same pay as it could be that the high pay is compensation for those things. You will need to decide whether you like that high income and whether it is worth it. Consider whether you are prepared to take a cut in income in order to improve your quality of life or whether you feel that you are not prepared to do this. It may be that you cannot afford to.

If you do want to leave your job and get the same income then you will need to put something else in place to earn that income. This could be something very simple such as finding a new job which pays better, has lower hours, is less stressful or whatever. However, you may not feel that this will be enough or perhaps that it will not be possible.

Another option is to independent contracting. This usually has a higher hourly rate but there is no sick or holiday pay and the work is not guaranteed. Many people prefer it and feel that it helps them to get better pay but more flexible work. They can work for less time by taking breaks between contracts and still get the same income. They may also feel more detached form the company they are working there, as they are not a permanent staff member which can help reduce the stress levels.

Another way is to run your own business. However, this can be risky, may not pay well, may have longer hours and may be even more stressful. If you turn a hobby in to a job, for example, you may think that it will be fun because it is fun when you do it as a hobby. However, once you need to start making a living from it then there is more pressure. You will need to get things completed so that you can sell them or make money from them or sell your services to other people.  This means that you will not just needs the skills you have for your hobby but you need a lot of additional knowledge and skills as well. You need to be able to know how to sell things, where to sell them, all about advertising and promotion as well. Then you will also need to consider whether you need insurance, employees, premises and all of the other things that could potentially come with running a business.