If you are planning to quit your job, it's important for you to think about the financial (and emotional) impact it can have.

4 reasons to quit your job:

1. You have another job that will pay the same as the one you have now,  or more

Make sure that the new job is secured with a signed contract and that your new employer is financially stable.

2. You have serious and permanent health issues

If your company offers disability benefits and your health issues are serious enough to prove that you are permanently unable to work,  a claim against your benefits may provide an alternative income for you.  If you do not have such benefits or your health is not life threatening,  keeping your job will provide you with an income that will help you cover medical expenses.

3. Your safety is seriously being threatened

If you are being sexually or otherwise harassed at work and do not want to continue working for that person,  find another job and lodge a complaint with your current employer’s Human Resources Department before you leave. 

Also look for another job if you suspect your employer is involved in or guilty of fraud or criminal activities.

4. Your skills,  experience and education are not acknowledged or developed

If you can find another job where your talents and skills can be further developed,  it is worth looking into.  You will most likely be energized by a job where you enjoy what you do and do what you were trained for.

READ MORE: 5 struggles every graduate searching for a job can relate to

And here are 4 reasons not to quit your job (or at least not immediately):

1. You want to claim UIF or your pension fund benefits

The Unemployment Insurance Fund (UIF) payouts are limited to a certain period and the process to claim UIF is not pleasant.  

Your pension fund is for your retirement and should be transferred to another pension fund or a retirement annuity if you resign.

It is also dangerous to quit your job in order to receive an early retirement payout if you are perfectly healthy.  People live much longer these days and if the money is used up too early, it will be hard to find a job when you are older.

2. You will depend on others financially

If you want to resign to start a new family, first try and live only on your partner’s salary for at least six months.  If it’s possible and you have money left over in your budget for the new baby,  you can consider quitting your job.  Also remember that you may be able to survive on your partner’s income,  but you will be able to grow more financially with income from both of you.  

3.  You want to avoid bad relationships with your boss and colleagues at work

Unless it’s really unbearable,  do not quit your job over people. There will always be difficult people wherever you go!  Make sure that your side is clean in the relationship: remain humble, be ready to learn, keep a good and friendly attitude towards others,  be on time for work and be a hard worker.

4. You want to work from home

If you’re an extrovert and alone most of the day, you might become depressed and frustrated.  You will also need self-discipline to be able to get up every morning and work the whole day without having anyone check up on you! 

Also make sure that there is a need for whatever product or service you want to provide and that you have money to cover the office and marketing costs for the first few months when you don’t yet earn an income.

If you want to quit your job,  make sure you have another job that has more benefits,  better working hours and more opportunities than the one you have now. 

Otherwise, be strong, keep your current job and work there a little longer so you can build a solid work record on your CV.