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10 Tips To Save For An Emergency Like Layoff

10 Tips To Save For An Emergency Like Layoff

Submitted by • December 17, 2018 www.moneygrowthguru.com

Layoff has become a part of present day reality. Automation is taking away many jobs. Mergers and acquisitions are also another reason for layoffs. In the coming years, Artificial Intelligence is going to make more people unemployed. One must be ready for such a situation and must save for an emergency. Grieving and blaming oneself is not going to do any good. So, in this article, I am going to give you some tips on how to be ready for such an unforeseen thing.

1. Keep 3 to 6 Months salary in a separate bank account
If you can keep 3 to 6 months salary aside in a place where you will not spend it, you will be able to survive the time after your layoff without any worries. Also, you will be able to peacefully search for a new job. If you are a family man or woman, this must be done as a priority as you cannot afford to let the bad times affect your children.

2. Set savings Goals
If you could set apart a certain amount each month to save for an emergency, you can accumulate a good tot

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