नौकरी छूटने जैसे हालात की पहले से तैयारी जरूरी: सैलरी का 20% हिस्सा निवेश करें, बुरे वक्त के लिए 6 माह सैलरी जितना कैश रखें

Between January and June this year, 344 companies across the world have laid off 99,670 employees. These include Indian companies as well. Sudden job loss causes mental and financial problems. But if financial planning is done in advance, you can reduce the challenges between the time of losing the job and getting another job. You can also keep your family away from stress.

Golden Rule… Develop the habit of saving first and then spending

1. Create an emergency fund: Employed people should always keep an emergency fund. For this, deposit a fixed amount from your salary in a savings account every month. Once you have accumulated an amount equivalent to 6-12 months of expenses, you can invest it in a liquid fund or bank FD. Use it only in case of emergency.

2. Get personal health insurance: The company’s health insurance stops when you lose your job, but a medical emergency can occur at any time. Such a situation can increase your crisis further. It can swallow up your savings. That is why you should have a personal family floater health insurance policy.

3. Build a diversified portfolio: Maintain diversity in the investment portfolio. Add different assets like equity, gold, bonds, real estate in it. This will help you benefit from the rise in one asset class if there is a fall in the other. The price of gold usually rises when the market falls. You can redeem the investment in debt or gold if needed.

4. Save first, then spend: The golden rule is that as soon as you get your salary, first set aside money for savings or investment. Then spend the remaining amount. The strategy of spending first and investing the remaining money is not good. Make sure to invest 20% of your salary.

Do these things after leaving your job

You can stop SIP for cash
If you lose your job and your regular income stops, first stop your SIP investment. Invest the money collected through SIP in a fixed income plan. This will give you a regular monthly income. If you are not sure of getting a job for a long time, you can gradually convert the equity component of your portfolio into safe investments.

Make a list of essential and non-essential expenses
Make a list of essential expenses. This includes house rent, EMI, school fees, electricity, water, groceries. Spend only on these. Prepare a list of non-essential expenses. OTT, gym membership, dinner in a restaurant etc. are such expenses which can be stopped.