With the current situation with debt ceiling crisis & economy state in most countries, foreign investment is reducing, MNC are downsizing, office environment are not at a positive level and if you are in an MNC, you may have noticed that it is a "dog eat dog world" at the moment. The ex-pats are probably finding scape goats to save their jobs, the locals are back stabbing each other to save their jobs. Its like history of 1996 & 2001 all over again.
Recently, 3 of the people I liase with at work (my customers) was laid off. A few months back, my uncle was laid off. And earlier this year, my best friend and cousin was laid off. (Not the same companies here). We are talking about 5 different companies.
Have you thought of a back up plan?
Lets not talk about being laid off. Even with 2 incomes, is it really enough to support the cost of living which is going up exponentially lately?
Can you say that you have a comfortable amount of money, from your fix income, after deducting 1/3 towards savings, 1/3 towards emergency funds? Yes, savings, and emergency funds are two different things here.
An ideal situation is for a person to have 6 months of his/her salary untouched in emergency funds, and definitely untouched savings/retirement money.
So, on saying that, who am I being lead by?
2 of them are ex bankers, 1 is a manageging director of an International Advertising Firm, 1 is a leading hair colorist (who also happened to be the top 3 in the WORLD) and 1 is a financial analysist from Australia.
When you have a good leader, and you yourself crave for sucess, the hill is not so hard to climb.
Open your eyes, see the bigger picture. Live your life. Be prepared.
Want more, read what Forbes think...
Forbes Write Up
“Keep your mouth shut and your eyes open.”
— Samuel Palmer
You can contact any of us for more information on how to start your emergency funds.
Recently, 3 of the people I liase with at work (my customers) was laid off. A few months back, my uncle was laid off. And earlier this year, my best friend and cousin was laid off. (Not the same companies here). We are talking about 5 different companies.
Have you thought of a back up plan?
Lets not talk about being laid off. Even with 2 incomes, is it really enough to support the cost of living which is going up exponentially lately?
Can you say that you have a comfortable amount of money, from your fix income, after deducting 1/3 towards savings, 1/3 towards emergency funds? Yes, savings, and emergency funds are two different things here.
An ideal situation is for a person to have 6 months of his/her salary untouched in emergency funds, and definitely untouched savings/retirement money.
So, on saying that, who am I being lead by?
2 of them are ex bankers, 1 is a manageging director of an International Advertising Firm, 1 is a leading hair colorist (who also happened to be the top 3 in the WORLD) and 1 is a financial analysist from Australia.
When you have a good leader, and you yourself crave for sucess, the hill is not so hard to climb.
Open your eyes, see the bigger picture. Live your life. Be prepared.
Want more, read what Forbes think...
Forbes Write Up
Forbes Thought Of The Day
“Keep your mouth shut and your eyes open.”
— Samuel Palmer
You can contact any of us for more information on how to start your emergency funds.
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