2016 saw job turnover rates hit 17.8% - which is the highest it has been since the Great Recession. Machines are automating many jobs, companies are using the independent contractor route to avoid liability and higher compensation. Which means employees are less and less satisfied with what the workplace has to offer. Are you ready for an upgrade? Finally going out on your own, taking a raise at another place, taking time for yourself, or whatever other reasoning you can have for leaving a job - there's a classy way to do it. Sure we'd all love to mimc Dave Chappelle's classic "I quit" sketch, kicking over trash cans, flipping off supervisors and co-workers, and leaving a big fart in the room right before we leave - but burning bridges never helped anyone, and you never know when you may need a reference, or just to not have being an asshole as a stain on your reputation.
Make Sure You're Sure + Have An Exit Strategy
Having one bad day, then telling everybody off and going out in a blaze of glory looks great on TV, but in real life, this probably isn't the best way to go about things. First things first is the make sure that you are absolutely ready to leave an organization that you have invested your time, energy and hours on and vice versa. If you're sure staying isn't a viable option, then it's time to plan your escape. Save up money, find other job options, know what you're going to be doing with your time. This will make your transition period way smoother. Having a plan will also make enduring those last few days that much more pleasant as you'll already know the bright future that lie ahead of you.
Give Notice, Do It Face to Face
Best practice is to deliver a letter of resignation two weeks in advance and deliver it hand to hand. This can be both a terrifying and exhilarating experience. If circumstances do not permit for a face to face, email is your next best option. This is a delicate phase, but as long as you express gratitude for your tenure with the company, and that you are simply moving on, usually everyone remains amicable and very positive. You're not obligated to say much here, and you shouldn't. Avoid gloating about your new endeavor and going on negative rants about the current company. You're moving on, so let's leave on a high note.
How to Handle the Flip Out, The Counteroffer, and the Request to Stay for Longer
At this point, you've mentally moved on, you've laid foundation for your new beginnings and you've given your notice. No matter how professional you are, you never know how your soon to be ex boss will handle this. Sometimes people take it very personally when an employee wants to leave. They may yell or attempt to belittle, stand your ground, remember why you're moving on. Sometimes however you may be hit with a counteroffer - more money, more perks, better treatment. You have to decide for yourself if any of these incentives are reason for you to stay somewhere you've just made up your mind to leave. Sometimes an employer may request that you stay longer to help with your transition. Remember that while you have no obligation to stay any longer than you've given notice for, it can be good practice to see any projects you're working on all the way through. This is a good indicator to your new employer that you are team player who is aware of the bigger picture.
Get a Reference While You're Still Hot
After a great conversation and presenting your well written letter, now is the ideal time to ask for a letter of recommendation and/or a reference. Don't give too much time for this to linger, but capitalize while the feelings are high and in good favor. This will go a long ways down the line and it's a really easy request at the end of your resignation meeting.
Claim What's Yours, Leave What's Theirs
Clear your desk, your computer, your hard drives, etc. Everything that is yours that you have built that you are not under contract to leave with your company, you take. Contacts, resources, info, all of it, you worked to earn it, so don't rush out the door empty handed. Conversely if you agreed that certain things remain property of the company than leave those things - no need for lawsuits and pursuits against you down the line. Also make sure you check for any paid sick days, vacation time, bonuses owed, 401K and retirement savings. Often times there's some extra money and perks waiting for you upon your exit, but if you don't ask, don't expect your former employer to go out of their way at all to get any of it to you.
What is Robinhood?
The Robinhood app debuted in 2013 as a first-of-its-kind revolutionizing free investment platform. Much like the 700-year-old story of the hero to the people, Robin Hood, FinTech entrepreneurs Vladimir Tenev and Baiju Bhatt created the platform in order to make stock trading easily accessible to the general public and not just the wealthy.
The National Financial Educators Council (NFEC) surveyed young adults in 2017 and asked them what high school level course would benefit their lives the most.
The majority responded that money management was the course that would be most beneficial.
With personal debt is at its highest record and COVID-19 threatening to have the hardest economic effects on youth, understanding money and finances is an important life lesson that should be taught to children at a young age.
The following is a list of the best financial literacy lessons and tips to teach children throughout different life stages.
I thought I had a pretty good handle on my finances out of school. I worked several jobs while attending university and had little to no problem managing my income. However, once I graduated, I realized how much more complicated personal accounting could really be.
There were so many variables I needed to keep track of. Biweekly bills, monthly charges, and general necessities amounted to a heap of confusing numbers that were often impossible to decipher. The funniest part was that I was actually trying to do this by hand (I don't know what I was trying to prove to myself, either).
After messing up for the 17th time, I decided to give Microsoft Excel a shot. I used Excel a bit in school and I knew all the big-wig finance people used it, so what could I possibly have to lose? The answer is about six hours of my precious time. Excel isn't much of an improvement over handwriting and it's still dependent on the user to manually input all of the information. It's like doing everything by hand with the slightest help, meaning that it still required a tremendous amount of time and concentration. Well that was all for nothing, I guess.
It's sort of funny. I was certain that I could manage my personal finances with ease, when it's practically a full-time job. I was already stressed out enough with my first job and I knew I didn't have enough time to give my finances the attention it deserved.
That's why I decided to try out a budgeting app. My best friend told me that he uses an app called Truebill to manage his finances. "What does it even mean to manage your finances?" I asked him. He told me that Truebill was the personal financial assistant I wished I could have. It could aggregate all of my account information into one place and give me specific insights and actions.
I loved the idea of having full control over my finances, especially during a time of financial uncertainty, and I realized that Truebill would be the easiest way to accomplish this. The user interface is incredibly simple and intuitive, so it doesn't even feel like a finance app! Truebill offers a multitude of features, with their most popular being the ability to cancel subscriptions with the press of a button.
Okay, I had no idea how many subscriptions I was still subscribed to. In fact, I wasn't even using a quarter of the subscription services I was signed up for. Subscription boxes, streaming services, my old gym, and even an old subscription to my favorite magazine--it was all there and I was livid. How could I let myself waste all of this money and how did I never catch this? Thank goodness for Truebill.
Truebill also offers bill negotiations. There is a 40% fee based on how much you save and Truebill even claims that there is an 85% chance that they'll be able to lower your bill once a negotiation is requested. Why wouldn't I take them up on this? There was zero risk and I would only have to pay once my bill was lowered (which means that I would be saving money regardless).
More standard features of Truebill include the ability to generate a credit report on-demand and even request a pay advance. I only used the pay advance feature once when I wanted to buy a gift for my mom, but didn't have enough cash in hand and Truebill automatically reimbursed itself when I got my next paycheck.
The credit report is another fantastic feature and practically taught me what good credit meant. Truebill's credit report basically shows you which financial decisions have the most significant impact on your credit score and ways that you can improve your credit month-over-month. I've never had such control over my credit and it feels good.
I'll be the first to admit that I was extremely naive coming out of school. I figured that as long as I was attentive, I could manage my finances with ease. We manage money to some extent throughout our entire lives, but once you're thrown out on your own, it's a completely different story. With Truebill, I've finally been able to take control over my finances and stay on top of all of my responsibilities.