How to feel safe when your job isn't

"What do you do if your industry is shrinking, but your monthly bills aren't? You come up with a plan - and hope you don't need it." an article by Josh Hyatt, Money Magazine senior writer, suggested a few things we could do when our job is on the edge. First thing is to change our way of living; cutting back on unnecessary expenses and save more. Second thing is to have an emergency fund that equal to 6 months of our income. Getting additional training also helps us up to date on new skills and practices. The most important thing is networking; it’s best to get to know other people in different field and to hunt for another job while we are still having one.

I found this article pretty much useful because these days, the American’s average saving rate is like 1%, according to my finance professor, and if something happen to our job, what could we do to for the next few months while looking for another job? A back up plan should be undergoing while our current job is still secure. Also, cutting back on our lifestyle would help us from going into shock if something happen and we have to adapt to a sudden change.