Being Financially Stable in Case You Become Jobless
Being Financially Stable in Case You Become Jobless
A couple of years ago, a good number of people became jobless, not just in the U.S. but in other parts of the world. This is because of a serious financial crisis that pulled the economy down and forced companies to close. You can never tell that you are secure in your present job today. So to be prepared, one must be smart in dealing with money.
Saving for the rainy day is not just for ants. It proves to be a life-saver for people as well. When you receive your pay check, make sure that you don't spend everything. Save up at least 2% or more and label it as "strictly for emergency use only". Lock it up in a bank and not in your sock drawer where it can tempt you. You'll be thankful you saved up money when the unexpected happens.
In case you resign or got fired from your job, make sure to get your last pay. Usually, the last paycheck you'll receive from your separated company is not just equal to 1 month pay. Expect a bigger amount especially if you didn't use any of your leave allocations. This could be the only money you'll get in an unknown period so don't go about spending it on clothes or partying. Add it to your savings or find a foolproof way to invest it.
Never think you're invincible just because you have a job. Always spend within your means and decide not to purchase something if it's going to require you to get into debt.
You must be mindful of using credit cards because it is one of the reasons why people lost their properties aside from their jobs. Don't make the same mistake if you don't want to carry a large burden of paying debts once you become jobless.
Hone your working skills so you'll gain confidence that you'll never be out of job for a long time. Make it a habit to do your work with excellence and you won't lose this trait even if you transfer to another company. Pick up good working habits and new skills as well. Be sure to keep training certificates so you can add this to your resume when it's time to find another job.
You may or may not lose your job. The most important thing is you are geared to win any battle that comes your way. Be wise in managing your money and you will be confident to face the future with or without a job.