Should I Quit my job and go for Higher Studies?

So you’re tired of work, it’s become mundane. You don’t really like your boss or the organization you’re working for?

Maybe you want to change careers?

And you feel the only way to fast track a career change is going straight back to study at college full time.

So what is stopping you ???

For most quitting their job is a big decision. Consideration is given over a period of time.

For others, it’s an easy decision. Or at least it seems to be.

So should you quit your job and go for higher studies?

The decision to quit your job and study higher education depends on your finances, family circumstances (if you have kids), and if you have family support. Or if you have a family to support.

So in this article, we will discuss if you should or shouldn’t go back for higher studies.

What are the things to consider?

Why are you wanting to quit?

So why do you want to quit your role?

If it is because you are bored in your current role? Are there additional activities you can do to make it more interesting?

Have you spoken to your boss asking for higher duties and more interesting work?

If you haven’t explored taking on additional activities which would be of interest maybe you should before you quit.

If you are working in a toxic work environment, it is probably best to start making plans to leave.
Working in terrible workplaces is never enjoyable and can wear you down. Impacting on your home life.

Sort out the finances

So before you submit your resignation letter you will need to sort out your finances.

Start to work out a budget. Understand your main expenses, the outgoings. Rent, mortgage, food, and utilities, etc

If necessary cut out any nonessential spending like Netflix, coffees, alcohol, takeaway food, etc.

This will help determine how much money you require to cover your main expenses over a week, month, and year.

Then compare this to how much money you have and how long it will last you.

If you do not have enough funds to cover your expenses then you will be restricted on how long you can study until the money runs out.

You could however get a casual or part-time job that will help supplement the funds you have.

This may support you through covering whilst you focus on studying.

Don’t forget for each subject you will need to buy a new set of books. An added expense that needs to budget.

If you are planning on studying on campus you will need to factor this into your costs. Keeping in mind costs do vary greatly between colleges.

Lastly, unless you receive a scholarship and do not have the funds to pay for the fees upfront, you may need to obtain a loan.

Finances are a challenge for all students, regardless of age.

One of the main reasons for mature-aged students dropping out of college and not completing their course is due to financial hardship.

Tuition fees are expensive 

Finding the right college, according to your financial requirements, will get you through the college without a massive fee.

Most Community colleges provide quality education at a very affordable cost.

For example, a 2-year course will cost $3-4k per year (depending on what you study). This cost is significantly less than a private university at $10k plus per annum.

If you cannot pay upfront or as you go, you can apply for a student loan. However, this can be crushing as you leave college with the burden of a loan.

Do you have family support? 

Before you quit your job do you have dependants to support?

The obvious question is do you have enough money to cover your expenses to support your family.

If you require childminding services, check out the services on offer. Spots can be scarce, so be sure to check out availability.

 It’s also good to check out the hours crèche or childminding services. Do they provide the hours to cover you whilst your studying?

Lastly, check out the childminding costs, factoring this into your budget.

Sort out your career plan

If you haven’t already, set out your career plan.

The benefit of having a career plan is it sets out a plan, goals to accomplish your career goal.

A career plan will help lay out the steps to achieve your career. It may help confirm what you what to study to achieve your career goals.

It may confirm that you actually don’t need to study.

Why don’t you get another job?

If you not enjoying the current workplace or your boss, have you considered moving to another job?

From my experience culture does vary between organizations. There will other organizations with healthy engaging cultures.

To find out about good organizations with healthy cultures, speak with coworkers, friends, family, and others with your network.

It’s important to do your homework at the next company. The last thing you want is to bounce to another unsuitable organization.

The ease of Moving organizations will be determined by current vacancies and how relevant your job skills are.

If you are desperate to get out of your current workplace, contract roles are generally easier to obtain than permanent roles

Look after yourself and keep fresh

If you are having trouble at work it can be taxing on your mental health and overall well-being.

During this difficult time, it’s important to take extra care in looking after your well being.

If you’re always thinking about work when you’re away from work, It’s always good to find activities that keep your mind distracted.

Taking long weekends or vacations can have a positive effect on your health.

Taking time breaks throughout the day can clear the mind. Practicing mindfulness will also assist.

Regular exercise will also help or spending extra time with family and kids will also help.

Final Thoughts

Before you submit your resignation letter you do need to consider your finances and family situation.

The sooner you put together a plan to help you move forward the better you will feel.

It is always important to remember that you always have options.

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