Where to find spare cash for emergencies?

It is the season of Tech companies trimming employees world-wide to maintain biz competitiveness.   

Hiring and firing takes just an email of notification.  Where to find job security? Just forget about long term career prospect in the company or long term biz plan.

So hold two jobs and build up Passive Income?  


1. In short: say nimble, and be prepared in your mindset.  Tomorrow might be your last day of work.  We are never indispensable.

2. Reduce high leveraged on loan.

3. Keep six month or even one year of cash buffer for contingency like this. Cash buffer maybe in Insurance policies cash value, stock at hand.  If no choice, just have to tide over.

4. Always keep your network wide, upkeep your resume, sharpen your interview skills, keep your job experience relevant and not too narrowly scoped.

~~~~ 

But where can we find the save cash to buffer? 

1.  Your cash value in your insurance or policy surrender value.   (In one of the traded Insurances which I bought over, one housewife actually sold her policy to help her family expenses).

2.  Those shares that you bought; no choice if have to sell to raise cash for bread.

3.  Renting out your 'spare' room.  Particularly for this, you actually can build a second source of income.  Bear with the inconvenience.

4. Put money into your parents SA to earn 4% for you.  Maybe make arrangements with your siblings to make equal contributions; so no need to argue over it.

5.  Give tuition lessons, work parttime like Grab food delivery or Grab driver.

Any job within your ability can help tight over your entrenched and period of in-between jobs.  

Talk to your children, spouse and siblings to get their understanding and to manage their expectations.

6.  As I always said, we are our children's Plan B. Maybe your parents can help.  

7. Avoid borrowing from friends; you might lose them or scare them away.  If you can find one whom can help, keep and treasure him/her for true friendship.

8. Did anyone say downsize your home or sell your jewelry?  Oops.

9. I actually know someone who holds two jobs; not tuition nor grab.

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