Just curious, of those of you planning to switch jobs, what is your FU money like right now? I'm contemplating making a change in the next year or so, but my 'stache hasn't hit 6 figures yet. I've got a good gig where I am with tons of vacation time, matching and other great benefits, but I'm burned out and bored. I'd really like to do a completely different job, but just not sure what that is yet and don't feel secure making a change with such a low NW.
Disclaimer: I'm in Germany so I assume a different social welfare sitaution than you.
Short answer: I only had one month's worth of expenses saved when I finished work.
It's a year since I posted on this thread. I finished up work at the end of October, turns out the last few months were so busy and stressful that looking for a job more or less didn't happen. I wasn't even invited for an interview for the music college job (seems like it might have been one of those they have to advertise but they're giving it to someone internal anyway). Anyway, totally contrary to most advice I only had about one month's worth of expenses when I left my job. But I had stayed long enough that I was entitled to get the annual bonus, paid out at the end of November. Along with the holidays and overtime that was paid out at the same time, that gave me another month. So now I only had one month to cover before unemployment would kick in (three-month exclusion period because I quit rather than being fired).
I had thought finding temp work would be easy enough but it turns out the things I thought would make it easy (well qualified, loads of experience), were what made people turn my CV down - I didn't feel like the agency really did a good job of selling me in that respect. I did get several offers for interviews for permanent jobs but basically for the same type of situation I had just left and had no interest in returning to. I was able to get some translating work though, so it felt like my sideline was going to maybe go well. And then in December I landed a whopper contract that ran into January and basically gave me my last month's expenses before unemployment kicked in. I had worked on getting my expenses down as much as possible and the amount I was entitled to per month was just about what I'd figured on needing. I kept on translating on the side (some months only earning a couple of hundred), making sure not to fall foul of the regulations on how many hours I could work while still being officially unemployed but actually it was a big pain in the neck and definitely not financially advantageous for me. Basically anything I earned over 165 was deducted from my unemployment money so I was spending time working but not really gaining financially, especially if I reckon in the extra time I had to devote to filling out forms upon forms upon forms. Still, it was important for other reasons as I was building up contacts and gaining experience.
And that became much more important when I finally did get a new job as it's only a part-time (20 hours a week) job. And, as expected since I've moved into working for the state, paying less than half of what I used to earn as well. Now I really need the translation work to be able to buy anything that doesn't fall under the rent and monthly bills category. So far, it's working out. I got my first salary paid from my main job at the end of June and at just under 1,000 net it's enough to pay rent and monthly bills and actually leave me enough to buy basic foodstuffs, too. Might have a boring diet if I ever have a month with so side income but it's not so little that it'd be unhealthy. And even though it's only a two-year contract and I spent a fortune moving, I am bascially working in my dream job now and absolutely loving it! I do have a longer commute than before (essentially an hour door to door) but I'm also loving the little town I'm living in and am very happy I'm here rather than in Heidelberg city. One of the things that totally blows my mind is how reasonable my current employer is in comparison to the last one. I have to work 20 hours a week and, apart from any meetings that are scheduled, it is entirely up to me how I spread those hours over the week. A longer commute (which I try to think of as more time for reading :-) ) isn't as bad when you don't have to do it every day. And I can change my mind on the day whether or not I'm going in to work or not. For example, a couple of weeks ago I got an urgent translation in on a Wednesday evening but I was able to just email my boss and tell her I was staying home on Thursday and would work on Friday instead. Actually, I asked and she seemed surprised I'd even thought to tell her, never mind thought I'd need permission. It's just so great. I'm just still trying to get used to being treated like a grown-up.
So now the next job search is to try and get my position changed from temporary two-year to a permanent one. Or to find a different permanent position in a different department of the university. Only working a 50% job gives me lots more flexibility for that search, too. I may never FIRE but realistically I probably wasn't ever going to do that anyway. What I had thought I might get to was enough of a stash to be able to switch to only working half-time by age 50 or so and then maybe retiring three or four years earlier than statutory retirement age. I may be broke but I already feel like I'm nearly ten years ahead of that game! :-)
