Resign to Live Freely or Stay for Benefits? 5 Financial Checklists Before Submitting Your Resignation

Work burnout amid economic volatility, alongside trends like Digital Nomads, full-time freelancing, or starting personal businesses, has led many to question the security of regular employment.

Resigning has become a choice for many working-age people seeking freedom, flexibility, or new career paths.

But resigning is not just about changing jobs; it is a significant financial decision. Without careful preparation, the dream of freedom may turn into cash flow anxiety.

Before deciding to submit your resignation, consider checking these five important points.

1. Calculate your 'true income value,' not just your salary.

Many evaluate the value of regular employment based solely on salary figures. In reality, full-time employees receive significant 'hidden benefits,' such as:

• Health insurance and group insurance.
• Employer contributions to provident funds.
• Annual bonuses.
• Paid vacation days and other benefits.

When assessing your income after resignation, include these "opportunity costs." Otherwise, you may underestimate your financial capacity and underprice your freelance services.

2. Emergency funds should be increased to at least 12 months.

Full-time employees typically keep emergency savings covering 3–6 months of expenses.

For those resigning, income shifts from "certain" to "uncertain," so it's advisable to increase savings to 12 months to cushion income fluctuations during the early phase of a new life path.

This fund isn’t just for emergencies but also acts as "buying time" to experiment with new business models, build new income streams, and establish the right customer base without financial pressure forcing rushed decisions.

3. Manage high-interest debts before resigning.

Credit card debt, cash advance cards, or personal loans often carry high interest rates and create cash flow pressure for freelancers or entrepreneurs.

Before resigning, plan to pay off as much of this debt as possible, or at least have a clear repayment plan and ensure your savings or new income can cover these obligations to avoid debt pressure forcing hasty decisions.

4. Plan comprehensive personal benefits.

Without company support, you need to manage your own benefits to cover illness and reach long-term financial goals, such as:

• Registering for Social Security under Section 39.
• Purchasing personal health insurance—especially while healthy to avoid rejection or extra conditions later.
• Retirement planning through continuous investments in RMF or buying pension insurance.

5. Test side income before fully resigning.

Try earning side income alongside your full-time job for 3–6 months to evaluate the feasibility of your new path. Key questions include:

• Is the income steady and sufficient to cover expenses?
• Is there a clear customer base?
• Can the business grow sustainably or is it just a temporary trend?
• Once confident in sustainability, resign to avoid the transition becoming a source of hardship and worry.

Planning before resigning is managing financial risk.

Leaving a regular job changes your income structure from a supported system to one where you manage risks yourself, affecting your entire financial situation.

Thorough planning of these five aspects ensures your resignation decision is based on readiness.

Ultimately, sound finances after resigning will guarantee happiness in life after gaining freedom.

Read personal finance news and financial planning with Thairath Money to help you "Achieve good finance, good life."https://www.thairath.co.th/money/personal_finance

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