Protect yourself from job loss

It’s a tough economy so have some savings to fall back on

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Tough as it is, you should try to build up a cash cushion to live on should you find yourself out of work.

Three to six months’ worth of living expenses in a high-interest savings account or money market fund is ideal. Failing that, you may want to have an unused line of credit available for emergencies—it’s much easier to get approved while you’re still employed.

3 comments on “Protect yourself from job loss

  1. Now is the time with regards to planning your dollars and cents for 2012. Adhere to these personal finance ideas and you can't go too far wrong. You may end up needing payday loans at one point. Saving and investing your spare money can help you in emergency cases at the future.

    Reply

  2. "it’s much easier to get approved while you’re still unemployed"

    Dont you mean employed??

    Reply

    • Hi Anon,

      Thanks for catching that slip up. You are right it is supposed to be “employed” there.

      Sincerely,
      Josephine Lim

      Reply

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