Have you ever lost a job before? I’m not talking about a high school job where you hit a parked car and didn’t tell anyone (happened to my cousin). I’m talking about losing a job in your career, what you studied for.
Losing a job is pretty miserable, but try losing your job on your birthday. A day of celebration quickly turns into a “Well shit, what am I to do?” Simple answer: find another one.
No I did not lose my job on my birthday, so I cannot empathize with the person, but a friend of mine did.
If you do lose your job it is not the end of the world. There are things more important, your health, your relationships. A job simply provides you money so you can buy food and shelter. However, having a emergency savings is great when your job does disappear.
We live in a time where machines are quickly becoming smarter and more efficient then man. A world where companies, governments and everyone wants to cut or eliminate costs. Fortunately for my friend, an emergency fund is already stashed away. You can lose your job unexpectedly, you can have a medical emergency. Having 3-6 months of liquid cash stored away in an account can help you make it through those tough times when your income disappears.
Budget Smart, Invest Wise