Seeking Advise on leaving a employment with just over £15k savings

Everyday Islamic Finance Personal and Family Finance
#1

Assalamu alaikum wrwrb all

inshaAllah you all are well and may this coming Ramadan be your best yet. Ameen.

Looking for advise on whether to take voluntary redundancy (with possible another 10-15k) from my cyber security trainee job with no certification. I feel that studying new subjects is very difficult at age of around 35+.

The employees there are facing possible job or change of role cuts in the next 4-6 months due to merger of departments with overlaps.

If I take this voluntary redundancy and instead of taking the the other risk of staying, what would the brothers and sisters here say about the current UK economy and how much more worse would the cost of living get?

if i take this voluntary redundancy, i will probably train as a driving instructor or something like HGV delivery driver.

Also your thoughts on anything else that i should think about before making a decision or questions you feel i should be asking myself or people here to make better informed decision?

Your advise and guidance would be greatly appreciated.

Jazak Allah khairen

#2

Wa alaykum salaam

Sorry to hear that you are going through a redundancy process- from experience it’s a very unstable and unsure thing to go through.

Whether or not to take voluntary redundancy is dependent upon your circumstances- £10-£15k would more than likely cover quite a few months of expenses (assuming that these are not excessive), thereby allowing you some time to search for a new job or upskill as you have suggested. It also depends on whether you enjoy your current role- is there a realistic chance that you may be able to stay on if so? Or is the redundancy process quite rough with a large number of employees expected to be made redundant?

With regards to the current economic climate, this doesn’t seem to be improving in the short term:

May Allah make it easy for you- He is the best counsel in all affairs so I would recommend praying istikhaara to help with your important decision

JzkAllahkher
Nawaaz