I wasn't able to start saving until recently. Now that my situation has improved somewhat, I'm wondering how many months worth of living expenses is considered good as a safeguard against being laid off? I'm thinking three months, since that would be more than enough time to find a new job?
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Corporate America is trying to reverse the independence and self-worth that low paid employees gained during Covid when it was realized how dependent the economy is on these workers. That led to increased wages and employees actually having some self respect for a change. Business hates that. Republicans love recessions because they can be used to drive wages back down. Here we see yet another example. To answer your question, squirrel away enough acorns to get you through the coming sh!t show, and if you are living paycheck to paycheck start researching acquiring a skill that is needed. Electrician, esthetician, HVAC tech, auto or aircraft mechanic, medical technician (ultrasound etc.). Skills that are not easily replaced by robots and AI. Those types of skills let you ultimately become self employed.
2 weeks
6 months to a year.
Depends. Someone doing entry-level work at $20 an hour is probably going to be able to find another entry-level position paying similar much quicker than someone working in a higher-level, specialized position making $150k+ trying to find something similar. I know people impacted by the layoffs in 2023 who still haven’t found work yet, and it’s not for lack of trying.
18 months
I would say 1 year of expenses.
with the way things are I will say 1 year to 18 months at the least
Yep. 6 to 12 months. Pay down all debt ASAP.
At least 6 months, anything is a great start! I pretend things like UI and severance aren’t guarantees. I’m eligible but this place is nutty.
3 months = more than enough time to find a new job...boy I wish we still lived in that world
6 to 12 months.
Its brutal out here