Planning a Sabbatical – 3 Tips to Keep in Mind

How to Plan Sabbatical

Taking time off from your hectic work schedule is a great way to rejuvenate, learn something new and regain your lost passion. That is why more and more people nowadays plan a sabbatical from their busy life. A sabbatical can last for few months to a year or two. The idea of deciding to take a sabbatical though exciting, is a bold step and requires proper planning. If you are also planning to take a sabbatical keep the following things in mind.

1) Decide why, when and how

You must be very clear about your goals to take a sabbatical and how it will help you. It can be for relaxing and improving your physical and mental health, travelling to new places, learning new skills & hobbies or considering a different career. You also need to decide the beginning and the end date of your sabbatical so that you are ready when the time comes. Another factor to consider is whether your current working condition will allow it. Planning in advance is very important for a successful sabbatical. Note down all the positives and negatives which will help you determine whether you really need one. Talk to someone who had taken a sabbatical.

2) Plan your finances

This is probably the most important factor that will enable you to decide whether or not it is the right time to take the sabbatical. Plan how you will fund your daily expenses as well as contingencies. Your savings will have to be enough to sail you through the entire sabbatical period. Determine how much money you can spend per month during your sabbatical, and begin to research any costs associated with your tentative plans. Try to clear your debt before you go on a sabbatical and make sure you do not take any new ones during that period. Determine how much can be covered under paid leaves if available from your employer. If your plan involves going to new places consider travelling in budget. Ideally, you should start financial planning for sabbatical at least a year in advance.

3) Talk to your boss and your spouse

Some companies have sabbatical policies for their employees depending on the number of years they have spent in the organization. Your employer might even cover some part of your time-off as paid leave. Taking time-off may also help your organization, as you will come back feeling rejuvenated and more passionate about your work. If your employer is not willing to provide sabbatical you might have to quit your job. Therefore, talk to your employer months in advance so that things go smoothly as per your plan. You should also talk to your spouse and other family members about your idea. Ask whether they will provide any support financially or otherwise. Their ideas may provide insights on how you can plan things. Besides, sharing your thoughts with people makes it more likely that you will actually move ahead with your plan.

Mushtaq Kazi
Mushtaq is the co-founder of Mushtaq has had corporate stints with Kotak Securities & IIFL group. He holds an MBA degree from Pune University.
His interests include cooking & gardening. When he is not cooking or gardening, he is writing.

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