If you’re worried you could be laid off or if you’ve lost your job personal finance professionals and career advisers have recommendations for how to cope. They range from preparing an emergency fund to understanding your severance package.
START SAVING
It's crucial to start building an emergency fund even when you feel secure at your job, but especially if you think you might lose it.
You might not be able to save enough to cover the whole time you'll be out of work, but even a small amount can reduce your stress.
When you start thinking about saving, Jesse Mecham, founder of the money management app YNAB, recommends you ask yourself this question: What do I want my money to do? Maybe a year ago, you wanted to save for a trip abroad, while now you want to have money in case you are out of work for six months.
If you are aggressively paying off debt and it's affecting your ability to save, Mecham recommends slowing down payments. You should still make at least the minimum payment, but you might want to consider temporarily using any money you've been paying over that to build an extra cash cushion so you have money available should you need it. It's also crucial to avoid getting into further debt, Mecham said.
UPDATE YOUR RESUME
It's always a good idea to keep your resume up to date but, but you should also keep it customizable for several jobs, said Scott Dobroski, career trends expert for Indeed. You can do this by leaving space in your resume to include keywords that are specific to the job you are applying for.
Jobs might require slightly different skills if you are planning to stay in the same industry, or completely different skills if you move to another field. If you keep your resume updated and customizable, it could make things easier when you need to move on.
This story is from the February 03, 2024 edition of Techlife News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 03, 2024 edition of Techlife News.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
THE FIVE THINGS YOU NEED TO KNOW BEFORE BUYING YOUR FIRST USED TESLA
It's a good time to be in the market for a used Tesla. Tesla's significant price cuts over the past year on its new cars have caused the prices of used Teslas to drop significantly.
SENATORS URGE $32 BILLION IN EMERGENCY SPENDING ON AI AFTER FINISHING YEARLONG REVIEW
A bipartisan group of four senators led by Majority Leader Chuck Schumer is recommending that Congress spend at least $32 billion over the next three years to develop artificial intelligence and place safeguards around it, writing in a new report released Wednesday that the U.S. needs to “harness the opportunities and address the risks” of the quickly developing technology.
WAYMO IS LATEST COMPANY UNDER INVESTIGATION FOR AUTONOMOUS OR PARTIALLY AUTOMATED TECHNOLOGY
The U.S. government’s highway safety agency has opened another investigation of automated driving systems, this time into crashes involving Waymo’s self-driving vehicles.
GM'S CRUISE TO START TESTING ROBOTAXIS IN PHOENIX AREA WITH HUMAN SAFETY DRIVERS ON BOARD
General Motors’ troubled Cruise autonomous vehicle unit said it will start testing robotaxis in Arizona this week with human safety drivers on board. Read more at:https://www.magzter.com/stories/technology/AppleMagazine/GMS-CRUISE-TO-START-TESTING-ROBOTAXIS-IN-PHOENIX-AREA-WITH-HUMAN-SAFETY-DRIVERS-ON-BOARD
YOUNG SOUTH KOREANS ARE INCREASINGLY DRAWN TO BUDDHISM VIA SOCIAL MEDIA-SAVVY INFLUENCERS
A South Korean deejay dressed as a Buddhist monk bounced up and down on stage while playing electronic music and shouting: \"This too shall pass!\"
INTEL EXEC ON BRINGING ARTIFICIAL INTELLIGENCE INTO THE WORKPLACE
Artificial intelligence is just about everywhere you look these days — including the workplace.
OPENAI LAUNCHES GPTO, IMPROVING CHATGPT'S TEXT, VISUAL AND AUDIO CAPABILITIES
OpenAI’s latest update to its artificial intelligence model can mimic human cadences in its verbal responses and can even try to detect people’s moods.
VOICE-CLONING TECHNOLOGY BRINGING A KEY SUPREME COURT MOMENT TO 'LIFE'
Seventy years ago on Friday, no one outside of the U.S. Supreme Court building heard it when Chief Justice Earl Warren announced the historic Brown v. Board of Education decision on school desegregation.
ILLNESS TOOK AWAY HER VOICE.AI CREATED A REPLICA SHE CARRIES IN HER PHONE
The voice Alexis “Lexi” Bogan had before last summer was exuberant.
WILL AI REPLACE DOCTORS WHO READ X-RAYS.OR JUST MAKE THEM BETTER THAN EVER?
How good would an algorithm have to be to take over your job?
