anyone taken voluntary redundancy and...

Glaucus

Glaucus

Glaucus

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Joined
11 Mar 2004
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anyone taken voluntary redundancy and either gone travelling, done something crazy, or complete and utterly career change.
If so would be useful to know what your story is.
I had set a limit which i wouldn't take and the offer is 5k less, but now rethinking.
 
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I did chuck everything in and take 9 months travelling with my (now) fiancé and ended up settling back down in a different country.

Best thing I ever did. :)
 
mind me asking how much money you had, where you went, how long before you got another job and where you settled down?
 
How many month's worth of pay are you getting?

I'd be tempted to go travelling for up to that number of months -2. With a hard limit of 12 months.

Basically assuming you could line up interviews and get/start a new job within 2 months of getting back. The 12 month limit being rather arbitrary but basically so you don't leave the workforce for 'too long'.
 
after paying of some debts i would get just over 9k. There's also a good chance of getting another 2-3k in compensation. But its not a certainty.
Also have other savings, but don't want to touch them(did have a mortgage in principle and was looking, obliviously that's not happening now).
So can get my outgoings whilst travelling down to phone bill, then the travelling cost.
 
Yes to voluntary redundancy, but no to travel or crazy spending (I did enough of that in my 20s). I had secured another role though when I took it.
 
dowie said:
How many month's worth of pay are you getting?

I'd be tempted to go travelling for up to that number of months -2. With a hard limit of 12 months.

Basically assuming you could line up interviews and get/start a new job within 2 months of getting back. The 12 month limit being rather arbitrary but basically so you don't leave the workforce for 'too long'.
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The way you've structured that doesn't sit well with me as it sort of implies that one needs the full pay to live on and that one isn't prepared to eat into savings. I guess what I'm driving at is that depending on how much someone is getting paid and what they want to do while travelling, they could potentially go travelling for months one a single month's pay and still have enough to cover a few months outgoings when they return. Or conversely they could spend so much whilst travelling that they have nothing left to cover expenses whilst lining up a job upon return. However I guess you know your own situation well enough to determine it is workable for you.

My attitude is that if people have their heart set on travelling then they should probably do it if they can comfortably afford it regardless of any redundancy payout (why does it matter where the money comes from?). Particularly if they don't have any ties that might crop up later in life.
 
Maybe if you've just graduated or just about to go to uni or just fancy a career break having established yourself.

I don't mean to imply you *need* the equivalent in full time pay but OP seems to be considering traveling because of the redundancy and also mentions saving for a deposit, in that situation I'd simply be inclined to structure it so you'd be in a similar position financially than had you not had redundancy and were working for that period of time. Perhaps not worry too much about a strict budget either when travelling as you're not a poor student, but also have a buffer for when you get back and need to cover expenses until you're working again.
 
Glaucus said:
mind me asking how much money you had, where you went, how long before you got another job and where you settled down?
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Went with 15k, spent 7k in 8 months. Could have done it cheaper, could have been more expensive, it depends how you want to teavel and what you want out of it.

Here in Portugal I found a job within about 3 weeks (working in IT is always in demand) - the manager was a knob but then again, I was grateful for the job. I just started a new job on a much better wage though so its worked out overall in the end. I did the previous job for 6 months.
 
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