If you lost your job......

Well let's see what needs to be paid in a month; 1) mortgage - that's a huge chunk of my income 2) car payments - yeap! Another huge chunk of my income 3) credit card bills - oh mmyyyy. 4) utilities - not such a big figure, but still need to get paid. 5) student loans - mmmhhhmmm, not a huge amount but still need to pay. NOPE! Definitely not enough in my savings to last for a month. I do have investments and what-not that maybe I can touch if it comes to that. If I count my investments (though they're not liquid), I'd last for a good 5 months. 8 months worth of salary in a SAVINGS account? That's a huge chunk of money just sitting there (You'll make interest, for sure. But it'll work harder if you put that in bonds, stocks, etc). Shouldn't they want you to invest that to stocks, bonds, etc? Or at least half of it.

i didnt afraid of lose my job, i have tallent and most important one is experience so i will try my best in another company

I haven't been able to find a job since I returned from China over a year ago. At that time, I had some small savings, but that was gone by last September. I am now a student so I receive student loans, but all that money is gone and I have over a month before my next check comes in. I have a temporary job, but now work for another two weeks because the building we work in is rented out. There is no guarantee that there will be full time work when we go back. For the three weeks before the building was rented out, we were lucky to get a day and a half a week. So I guess you would say that I am sinking big time!!! I would be happy to have two weeks wages saved up!!! Thanks for bringing this up.

If I lost my job right now i would definitely sink. I just had my daughter and I am on maternity leave and that is only 60% of my normal pay which is not much to start with. There is no way an average family could save 8 months worth of salary. Money is just too tight and bills are just getting larger.

No, we have used up most of our savings to stretch my wages to cover our household bills and groceries. I rely on getting overtime and the enhancements I get from working weekends and unsocial hours. Having said that, if I wasn't working, I would save £77 a year on parking; about £10 a week on petrol: £5 a month in Union subscription and my works pension contributions. I'd get free prescriptions (which would save us £180 pa); help towards the cost of our spectacles and counciltax benefit - so, I wouldn't be that much worse off financially but I'd be climbing the walls!!

Hello. If i lose my job, my live still countinued.. In my bank accounts I have a lot of money. Because I work about ~20 years in "Mažeikiu Nafta" and salary is very high level. I have nice house, whife, two grown children. They now study at university. So, it will be not a problem for me :) Sorry for my English.

thanks God that i am able to do that... i try to live as frugal as i can and when i still have a job, i try to save as much as i can for rainy days... i know that it is not easy and i have to be as frugal as i can to be able to save every little bit of money that i have... also, my online earnings help me to boost my savings... take care and have a nice day...

I think i can survive 4 months without job. Thats how much i have in the bank. I guess im just lucky that i belong to a debt free company that losing my job is not an option...maybe not yet. The company has been open with the money issues so we know where we stand..so far. But if ever ill loose a job, i can only survive 4 months..not more than that. Good thing the family rans a business that i can rely while im getting another job.

I am a retired Marine and having been living off my retirement income alone for the last few years. It's a very limited amount and not easy to survive on, but I can't lose it, I will get that each month until I am no longer of this earth. I live as cheaply as possible and try to put away a few dollars each month while still seeing that the bills are paid. I don't ever have 6-8 months worth, but I try to at least keep enough to cover minor emergencies or unexpected expenses like car repairs, etc.

No, I can't survive because I only have this month's daily utilities. And I am in debt right now, so I can't lose my job. I think it's a good idea that keep 8 months storage in the bank account, I will try some days later when I have money.

No, I can't survive because I only have this month's daily utilities. And I am in debt right now, so I can't lose my job. I think it's a good idea that keep 8 months storage in the bank account, I will try some days later when I have money.

Hi OpinionatedLady, I once heard the question 'Are you only one pay day away from living in a cardboard box' and it really scared me. It made me really focus on savings and each month I would aim to save ten - twenty percent of my salary. One tip to do that is each time you have a pay rise is to put the extra straight away as if you were still on the old pay scale. Put it in a savings account and always keep track of best interest rates available and move it around to get better deals. If you have a mortgage always try to overpay it whenever you can to reduce further interest on it and take the mortgage for the smallest term you can realistically afford.

So far the is no way we can save anything with all the bills and everyday needs. I was or am employed my manager tells me that I am still employed but that at the moment he those not have enough work for me so I have not work for more than a month. I call him every other day to see if there is any change but nothing I have also applied in different plces but nothing at all wither they do not have an opening at the moment or they need some one with experience. My husband has not had a stable job for almost two years I was the one that was taking care of everything for about a year after he lost his job. So now he is applying eveywere and he is also looking for any temporal thing he can do to be able to keep up. But there is no way to keep up I got a letter from two of our bills that we have a week to pay part or all of the amount or they are goig to be disconected. Also all the other bills or due in two week. That is may mainreason to find for ways to earn money online but so far I have not had good luck in getting to a payout. But I will keep tring every day by being hear posting and also having my eyes opend for any oportunity to get a job.

i will try for better job . Until i use my father's money

If I lost my job could I survive for a while? Yes, I can. I have about 6 months of expenses saved. The amount I have saved is around four thousand USD. I don't pay all the bills as I live with someone. Here are some bills that I have: 1) credit cards (only owe on two of them), 2) educational loans, 3) medical insurance, 4) utility bills. I don't have a car so there's no car loan and no car insurance. The house is paid off so no rent or mortgage. I split utility costs so I'm not responsible for all of them. Yes, I can afford to save, my friend. I would suggest setting up a savings account. I save at least 10% of my paycheck to be put in my savings account. If you would like a referral I can refer you to my bank. They'll give the customer a bonus for opening a savings with at least three hundred USD (only for USA). Just send PM if interested. Pablo

I've been saving money for a rainy day, or two...

Well I have two job offers besides the one that I currently have, but it would be in bad taste to change jobs because I lost one. I am supported in part by my parents but the could afford to take full care of me. This probably isn't fair, but as a student I have a lot of opportunities coming my way.

i think i will really suffer if i lost my job today. Although i have a small business, i am just starting to let i grow and stable. I hope i wont reach that point. I still like to keep my job. Happy mylotting and smile always!

I actually have an emergency fund. I have 6 months worth of salary saved up in the bank. Other that, I try to make some extra money also. I have a small business and I am new at this whole making money online thing. I also have investments in a cooperative and the stock market so that even if i do lose my job, I have something to fallback on. My advice to you is to read as much about personal finance to survive in this recession. Yahoo Finance and Investopedia are good websites for that. :)