There are numerous reasons to quit your job, but nothing beats leaving a job because a much better opportunity has presented itself. Many employees are resigning from their positions for financial reasons since they necessitate a higher salary to provide for and satisfy their needs.
But just because you’re quitting for the best plausible reason doesn’t mean the process will be easy. Whatever the reason for your decision to resign, you should always follow the standard procedures before leaving the company. You should give proper notice, write a resignation letter, and quit with gratitude.
In this article, we will go over a resignation letter for financial reasons, as well as writing tips, its contents, and samples and templates to help you draft your own.
What is a Resignation letter for Financial Reasons?
A resignation letter for financial reasons is a formal letter written by an employee informing their employer of their decision to leave work to attend to personal and family matters for financial needs.
Employees should give their employer notice before handing in this resignation letter and deciding to leave their job. This way, an employee can keep their employer as a strong connection, a great reference, and maintain an impressive image of the employee.
There are various reasons why an employee should write a resignation letter due to financial reasons.
Some of These Reasons Include:
- Informing the employer formally and briefly of the main reason for resigning from the position.
- Keep a positive relationship with the employer even after resigning from work.
- Only if the employee desires to come back to work after financial issues have been resolved should the job position be secured for future purposes.
What to Include in This Letter
When an employee writes a resignation letter, certain details must be included. They are as follows:
- Employee’s Personal Information
Employees must include their full name, contact information, and complete address when writing their resignation details. The employer can immediately understand their employee and yet is aware of the person having to resign with this data.
- Employer’s Personal Information
Following the employee’s information, the next crucial piece of information belongs to the employer, who is being notified of the resignation. The information provided by the employer includes the employer’s name and title.
- Company details
Employees who are resigning for financial reasons should include company information in their letter. The letter must include information about the company such as the company’s name and full address.
- Greeting
After actually writing the company’s information, the employee should include greetings. Even though the employee is resigning from their position, including a greeting shows respect and courtesy for the employer.
- Employee’s last day of work
The employee must include in the letter the last day they will be working at the company. With these details, the employee gives their employer plenty of time to find a replacement before officially leaving the company.
- Reason for departure
The employee should assert their reasons for departing in the main body of the letter. Unless they are directly related to the job, the reasons should be brief. An employee should not elaborate on their reasons for resigning.
- Apology for the inconvenience
Because the employee is resigning and leaving the company, it is also in the employee’s best interest to apologize profusely for any inconveniences they may have caused their employer.
- An offer to help with the transition
It is also advisable to maintain a positive relationship with the employer by offering to assist the new employee who will fill their position.
- Thank you note
It is also essential to include a thank you note for the employer. The resigning employee should express gratitude to the employer for their time at the company. They should also be appreciative to their employers for being understanding of their condition.
- Signature
Following the inclusion of all appropriate data, the employee should sign off with their signature and typed name.
Tips for Writing This Resignation Letter
Aside from including all necessary information in the resignation letter, there are some tips that a resigning employee can follow to ensure a more efficient and appropriate letter. These are:
- Address the employer first
Before composing and submitting the letter, the resigning employee should discuss their intentions with their boss. This ensures that the employer is not caught off guard by the resignation decision.
- Keep being positive
It is important to have good reviews and remarks when discussing the company’s experience. The employee should bear in mind that they may require a letter of recommendation from the employer in the future or seek work from them.
That means their reason for departing should be pleasant, such as trying to deal with a financial matter, rather than negative, such as dissatisfaction.
- Keep your reasons for resigning brief
To avoid exceeding the purpose of the letter and providing too much information, the employee must always keep their reasons for departure as brief as possible.
- Follow business letter format
Because it is an official letter, the employee should follow the business letter format when writing the resignation letter. A header is required in this letter, and it should include both the employer’s and the employee’s information.
- Edit and proofread
It is best to proofread and edit the letter after it has been written. This will ensure that the letter is free of spelling and grammar errors.
- Ask some questions
In the letter, the employee can also inquire about their benefits and compensation to verify how their resignation will affect them.
Sample and Template
Here is a sample and template to help you in writing your own resignation letter for financial reasons.
Sample Letter #1
Your Name
Your Address
Your City, State Zip Code
Your Phone Number
Your Email
Date
Name
Title
Organization
Address
City, State Zip Code
Dear (recipient’s name),
I’m writing to inform the management of (company) that I’m resigning from my position as (your position), which I’ve held for (number) years. I will have completed my two-week notice period, making (date) my last working day here. As of my last day, I am aware that I have several open tasks that must be completed as soon as possible.
My unexpected resignation from the company is heartbreaking, but it is necessary because I am relocating due to family financial issues. While my time at the company will be much shorter than expected, this move is necessary because my spouse and I are in difficulties.
I’d like to thank the management of (company) for the opportunities I’ve had over the years. I hope to see the company expand profitably and gracefully.
Best regards,
Signature (hard copy letter)
Your name
Sample Letter #2
Your Name
Your Address
Your City, State Zip Code
Your Phone Number
Your Email
Date
Name
Title
Organization
Address
City, State Zip Code
Dear (recipient’s name),
I am writing to formally announce my resignation from (company) as (your position) as of (date). I understand that my time at the company was brief, but my abrupt departure is due to financial reasons for which I am required at home. These issues have also hampered my ability to work effectively in the company because I am under a great deal of mental stress as a result of them.
Despite the fact that I have only been at [xyz company] for a short time, I have made many friends. I’d like to thank (Person 1) and (Person 2) in particular for making my few days at the company meaningful. I’d also like to thank (Person name) for initially recruiting me and seeing a great deal of potential in a young and ambitious interviewee.
I am grateful to the management of (company) for believing in me during the recruitment process, which makes my departure all the more heartbreaking. I also hope to work with the company again in the future if the opportunity arises.
Yours truly,
Signature (hard copy letter)
Your name
Sample Letter #3
Your Name
Your Address
Your City, State Zip Code
Your Phone Number
Your Email
Date
Name
Title
Organization
Address
City, State Zip Code
Dear (recipient’s name),
I’m writing to request that my official letter of resignation be submitted. I’ve been with this company for three years and have worked in various branches around the world. However, I have never visited a branch that was more disorganized than this one. My job requires me to travel from branch to branch and turn in my report, but my low salary has been a major source of frustration for my family and me over the last six months.
My salary is settled each month, and over the last six months, it has been steadily decreasing due to illogical tax deductions, and even the daily wages that I receive for my labor supply have been reduced. I have sent several letters of complaint and even met with my company’s head for discussions, but nothing has been done.
Suddenly, I am resigning. This has caused me a lot of stress because I also have bills to pay and a family that depends on me to provide for them. I hope you can resolve this for your future employees, and I wish you the best of luck in the future.
Sample Letter #4: Resignation Letter Due to Poor Salary
Your Name
Your Address
Your City, State Zip Code
Your Phone Number
Your Email
Date
Name
Title
Organization
Address
City, State Zip Code
Dear (recipient’s name),
I regret to inform you that I am experiencing difficulties at work. One of the most serious issues is low pay and unfair deductions. As a result, I am unable to afford my essentials and have discovered that other employers pay a higher wage for the specific job I am performing at your company.
As a result, I’ve decided to resign from my position. I can no longer remain in the current financial crisis. As a result, please accept my resignation and acknowledge this application as formal resignation. Furthermore, as per our contract, I will serve my notice period.
Yours Sincerely,
Signature (hard copy letter)
Your name
Final Thoughts
- It is an important and official way of informing an employer that an employee has to work leave to solve financial issues.
- Through this letter, it can retain an employer as their future reference and connection.
- Personal information, details about the employer, reasons for resigning, an offer to help, and a thank you note are all things that an employee should include in their resignation letter.
- Because this is an official letter, an employee should write it in a formal business format.
- Always keep it in a positive tone and professionally.
Resignation Letter For Different Scenarios
- Resignation Letter: Everything You Need To Know
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- Resignation Letter for Bad Work Environment
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- Resignation Letter for Pregnancy’ (maternity leave)
- Resignation Letter for Working Abroad
- Resignation Letter for Relocation
- Resignation Letter for Retirement
- Resignation Letter for Starting Your Own Business
- Resignation Letter Email