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What You Should Do if You Lost Your Job Or Lost Your Income Temporarily (Guest Post)

What You Should Do if You Lost Your Job Or Lost Your Income Temporarily (Guest Post)

Which direction should you take, the urgency of how you should perform things, will depend on how great or how dire is your current situation. Here are some things that you need to evaluate…

This post was originally posted here. The writer, Kyith Ng is a veteran community member and blogger on InvestingNote, with username known as Kyith and has 967  followers.

How prepared is Washington for a recession? - Lens

I started work after we came out from SARS in 2004. So I have been through the mental aspect of not knowing if you have a job when you graduated from university.

2008 was different in that I was already working but in my old company, the email will announced new hires every week.

This COVID-19 thing is a bit different. Not sure if it is because as an almost 40 year old, there are more people being furlough or retrenched.

I have not been retrenched before. Friends have shared with me that my old place is an iron rice bowl.

In the current workplace, we are doing OK, at least for now.

I am not going to be that guy to tell you what you should do.

I have read a few stuff out there and while they point you to resources such as the Ministry of Manpower, what are your rights, where to get support aid, they do not show you money-wise how you should pivot.

I came across some of these stuff in podcasts in the past. I think they might prove useful for you at this time.

  1. A part of the content explores what you should do if you are laid off.
  2. There is also the part of the content where you are not laid off but you need to fortify your work position.
  3. Lastly, there is a little bit exploring about coming up with backup plans

Let’s minimize on flowery words and get straight to the content.

Take Stock of Your Current Situation

Which direction you should take, the urgency of how you should perform things, will depend on how great or how dire is your current situation.

Here are some things that you need to evaluate:

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