How to Decrease the Chance of Getting Stuck Without Income
There's always a likelihood that you might lose your job, even if you've been working for 10 or 20 years. Unexpected things can happen, as we all learned over a year ago. You can't do anything to control such things, but you can take steps to protect yourself so that you're never stuck with no income. These are some tips on keeping yourself financially safe in case you lose your job suddenly.
Save Money Every Week
Putting money to the side every week is one of the wisest moves you can make if you want to prevent getting stuck without funds. Even if it's only $25 a week, it will grow as the week's pass. Eventually, you'll have enough money to keep yourself afloat for a month or two if you ever come across an unexpected job loss.
Work More Than One Job
You can also avoid getting stuck with no funds if you work more than one job. Try to sign up for a second part-time job and be reliable and hardworking on that job. That way, you will still have that job if you lose your main source of income for some reason. You might even convince your employer to switch you to full-time status on that job.
Have a Network of Good Friends
You should always keep a network of friends who want you to succeed in life. These people will most likely help you if something happens, and you find yourself down and out one day. Additionally, you should conduct some research to find emergency lenders you can use if you get hit with a loss. It's best to have the numbers to these providers on your cell phone or Rolodex to ensure that you can call them right away if you need help. You may want to do an inventory of the items in your home just in case you need to sell some items to make ends meet as well.
You can use the above method to ensure that you aren't completely messed up if you lose your job. Try them all and pray that an emergency never arises.