Anticipate the Worst Case Scenario and Have a Backup Plan

I just want to share this true story that happened to my ex co-employees in my previous employer.

Without a warning, they were out of work due to the company they worked for had lost clients. In order to prevent the company from being bankrupt, it had no other choice but to fire most of their workforce. And that’s where a sad part comes in. If you’re unprepared, you’ll automatically lose. Besides in today’s generation, it’s so hard to find a job that is similar to what you do. So if you badly need a replacement job, don’t be choosy. In the end, it pays off if you know a lot.

So what’s a better plan to something like this is first, anticipate the worst case scenario. Don’t be so relaxed the fact that you have a job. There’s no certainty in this world so you better have a backup or contingency plan. In this case, if you have a 9 to 5 job, look for other sources of income. Don’t depend only on your work. It is also advisable if you continuously improve yourself. Learn something new as we can’t deny that if you know a lot, the chances of getting a new job or being hired are high. So attend seminars and improve your craft.

Also, a thing something like this is serious esp. if you have no savings or what we called an emergency fund. Just like what I always say in this blog, the ideal emergency or rainy fund is equivalent to your 6-month expenses or salary (it depends on your preference). The purpose of this fund is to ensure that you have money for 6 months while you’re looking for a replacement job.

Also, be a lookout for other legal opportunities that will add up to your income. Just like what I do, aside from having a full-time job, I also have other small businesses. I have a loading business, sending and receiving of money and the newest addition is selling ice candy. I’m not satisfied with these yet as my goal is to earn money from all my sidelines that exceed my current income consistently. If I made it, then I have a peace of mind that no matter what happens, I’m 100% prepared. And who knows, someday I might be out of the corporate world and be the captain/ruler of my life.

My prayer to them is I hope they will find a new work as soonest as possible.

Comments

comments

2 thoughts on “Anticipate the Worst Case Scenario and Have a Backup Plan

  1. Wilfred Padilla - August 29, 2016

    I agree with this one Jet.

  2. Jethro Sas - August 29, 2016

    Thank you Wilfred for your comment. Keep coming back for more blog posts. 🙂

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