I'm thinking of quitting my job
I'm curious as to why you'd want to quit your job, did something happen?
It no longer is providing enough money for the cost benefit of it.
If your job no longer provides you with a livable wage it is appropriate to search for a new one. You have the right to quit any job you do not want to do.
I don't think I need a job anymore. I'm going to apply for welfare so I can do what I want all day.
That's fine, you can apply for welfare while you look for something else to do. Eventually you will get bored and need a new job, because everyone needs something to occupy their time with!