I left my job about two months ago, and I applied for unemployment immediately. I got a new job today, but I STILL haven’t gotten my unemployment decision. Additionally, my food stamp application was delayed due to personal circumstances. In short, had I not had money saved for an emergency, I would have been mega-screwed.

I know some people are not in a position where they have the luxury of storing away significant amounts of cash but, if you are, I beg of you to do so if you aren’t already. I can’t imagine what position I’d be in right now if not for my budgeting.

Thanks for coming to my TED Talk.

PS. I posted this here instead of in c/finance because the sidebar there specifies that it’s supposed to be for finance-related news.

  • GenEcon@lemm.eeEnglish
    2·
    1 year ago

    1–3 months is enough for other developed countries other than the US, due to unemployment benefits, social security and most importantly: at least 3 months prior to termination a required termination notification.

    Anyways: due to the current high interest rates it might be worth it to put more money into your savings account, since the opportunity costs compared to company shares are low.