Be prepared to lose your job

Posted on January 21, 2007. Filed under: Advice, Jobs |

This may be obvious to most, but even though my jobs been on the line for a while, I must admit, Im not completely prepared yet, but if you’re going through the same boat, take a look at this..

“How okay would you be financially if you were to lose your job today?

Scary question, isn’t it? Since no job is absolutely fool-proof safe from being downsized, it’s wise to be prepared for the worst. Financial planner Deborah Fowles has written up a few points to ponder:

  • Assess your financial situation BEFORE the need arises.
  • If job lay-offs have already occurred where you work, you should have your resume updated and be looking around for possible opportunities that fit your skills.
  • Acquaint yourself with your employer’s severance policy now

Nobody really likes to think about this stuff, but it’s better to be safe than really, really sorry.”

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