For employees, resigning or changing jobs is a common occurrence, as every job comes with both work experience and life lessons. At some point, one may feel the need to expand their horizons. For those contemplating resignation due to reasons such as the job not aligning with their studies, long commute times, heavy workloads, or even to pursue further education, it's essential to think carefully before making a decision. If you're still unsure about what to do, today Moneyguru has some examples of preparations to consider before resigning. Let's take a look at the details.


Things to Prepare Before Resigning


1. Goals After Resignation
It’s certainly not advisable to resign based on emotions, as this could lead to unnecessary unemployment and financial strain. Therefore, before resigning, one should carefully consider their goals for after leaving the job. What will you do next to move your life forward? You might set goals such as securing a new job before resigning, leaving to pursue studies, or starting a personal business. The goals and reasons will vary for each individual, but it's crucial not to leave yourself idle, as this would waste valuable time. Even if you consider this resignation period as a break to recharge, you should have a timeline and goals for how long you will rest and when you should find a new job. Prolonged idleness can lead to a lack of income and a loss of motivation to work.


2. Savings for Daily Expenses
One of the immediate challenges after resigning is the loss of regular income. If you have additional income sources, you might not face daily expense issues. However, if you don’t, you can expect your savings to dwindle quickly if you don’t find a new job soon. So, how much should you save for daily expenses during this period without income? It is recommended to have at least 6 to 10 months' worth of savings based on your monthly expenses. For example:


Example
If your monthly expenses are around 10,000 Baht for food, phone bills, utilities, etc., then you should save at least (in the case of 6 months' worth) 10,000 x 6 = 60,000 Baht. This 60,000 Baht is the minimum amount you should have saved for the period after resigning to avoid financial difficulties. If you have this amount saved, you will not struggle with daily expenses for the first 6 months after leaving your job. Note that this savings should be separate from your emergency fund; otherwise, you might end up depleting your savings.


3. Check Your Social Security Benefits
There are two main points to understand about social security when resigning:


3.1 Unemployment Benefits
- As an employee, you must have contributed to the social security fund for at least 6 months within the 15 months prior to unemployment to qualify for assistance. The benefits include:

3.1.1 - If terminated, you will receive compensation at 50% of your wage for up to 180 days.
3.1.2 - If you resign, you will receive 30% of your wage for up to 90 days, depending on your contribution history. You must register for job-seeking at the government employment office within 30 days of unemployment (whether you resigned or were terminated) to receive these benefits.

3.2 Continued Coverage for 6 Months After Resignation
- After resigning, you will still be covered by social security for another 6 months from your resignation date. The coverage includes four cases: illness, childbirth, disability, and death, with details depending on your contribution conditions. If you wish to remain in the social security system, you can apply under Section 39, provided you have contributed for at least 12 months and apply within 6 months of resignation. The contribution amount is 432 Baht per month, covering six cases: illness, childbirth, disability, death, child support, and old age.

4. Additional Income
Having additional income besides your regular salary is beneficial as it enhances your financial stability. This is especially important during unemployment, as it can help cover daily expenses. Therefore, regardless of whether you have a regular job or not, you should always look for side jobs to increase your income.

5. New Job
Finally, the hero of the story is the “new job”, which you should start looking for immediately. Ideally, you should have been searching even before resigning, but sometimes emergencies arise that necessitate immediate resignation. Once you have time to think, consider whether your new job will be in the same field or a different one, and make a well-informed decision for your benefit. Don’t forget to act quickly, or you may face a loss of income.

I hope this information is helpful for everyone considering resignation. Moneyguru cares and wishes everyone success in their careers and personal lives.

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