7 steps you can take when leaving a job

1. If you don’t have a job lined up, adjust your budget.

If you don't have your next job lined up, take a hard look at your bank account and your budget and see how long you can go without income during your job hunt. Start making adjustments immediately so you aren't stressed into taking a job you don't want.
More about budgeting >

2. Make a plan for continuing your health and life insurance.

Come up with a plan for continuing your health insurance if you're currently insured through your job. Make sure you don't have any gaps in coverage, even if that means taking out a policy for a couple months between this job and your next one (or if you’re going back to school in a few months and getting a student policy).

Sometimes you can use COBRA coverage, which is a temporary extension of your health care after you leave an employer. Find out what it will cost to continue your COBRA coverage and work that into your budget. If you were relying on life insurance that was provided as a company benefit, talk with an insurance agent about options for replacing that coverage.
More about health insurance >

3. Know your retirement plan options and make any final adjustments.

If you have a retirement plan through your employer, figure out what you are going to do with it. That last thing you want is for your employer to pay the balance out to you, because you’ll have to pay taxes and penalties. You should be able to rollover your savings to an IRA or to a retirement plan at your new employer.

Gather any rollover forms before you leave your employer. If you're leaving a job where you haven't contributed the maximum to your 401(k) or other retirement plan, see if you have the budget and the ability to make higher contributions for your last few paychecks. This is especially good to consider if your next job doesn't offer a retirement plan — it may be your only option for tax-deductible retirement savings for the rest of the year.
More about retirement >

4. Download e-mails and contacts and erase personal files.

Download any documents you may want to take with you for your portfolio, any e-mails you want to store or any contacts. Also download any personal documents you may have stored on your work computer. You can use a thumb drive, email or an online service for transferring large files, such as: www.dropbox.com and www.yousendit.com.

Make sure you have the right to take with you whatever you download. Some documents and client lists are confidential and belong exclusively to your employer. If you have any questions or doubts, talk with your employer or seek legal advice before downloading anything that might be restricted.

5. Submit any leftover expenses.

If you are reimbursed for any expenses as part of your job, get that last expense report in as soon as possible. Go back and make sure you haven't missed anything. Once you’re gone you probably can’t submit reimbursements.

6. Ask for a letter of recommendation and update your online professional networks.

If you want to use your employer for recommendations in the future, it can be a good idea to ask for one in writing before you leave, so you can make copies and submit it during future job searches. You also might consider asking them to recommend your work on sites in your online professional network, for example on LinkedIn.com or on your personal website.

7. Don't burn any bridges. 

No matter what the circumstances are, you want to leave on a high note. If you’re not leaving on good terms, just remember that you may want to reach out to your employer in the future for recommendations or networking. Be friendly and positive in your exit interviews. If you need to express your frustrations, talk with a family member or friend.

Other things to think about

Here are a few more things you may want to think about:

1. If you were let go, understand the terms of your severance.
2. If you were let go, understand your unemployment benefits.
3. If you are moving, update human resources with your new address.
4. If you have special financial incentives, talk with a financial professional about how to handle them
5. If you have any bonuses or commissions, figure out exactly what you’ll be paid and when.
6. Take any employee discounts before you lose them.

If you were let go, understand the terms of your severance.

Talk with your human resources representative if you were let go. Make sure you understand the terms of your severance package, if there is one, and how you can expect payments to be made. As you start receiving severance benefits, set aside as much as you can in savings, to cover yourself if your job search takes longer than your package. You don’t want to get caught without income and without emergency savings you can draw from while you continue your search.