Regardless of your Job position , skills or your Street smartness the most smart thing to do after a layoff is to manage your Cash flow. Since you still have a job this is the best time to review your cash flow.
- 1> Review the outgoing Cash – Important to identify where money is going and how much.
- 2> Review the incoming cash- You are not the US government to spend as you wish with out money coming in. Review your incoming cash where you will get money from and how much.
- 3> Plan 2 budgets for 8 months- Create 2 budgets one takes into account you have a job and other takes into account your worst case scenario.
- 4> Raise Cash – “cash is King” Raise as much cash as possible so as to survive for 8 months
- 5> Identify Cash resources – it is important to know some cash resources which you can tap in case of an emergency example May be a credit card or Friend or loan centers
- 6> Avoid Temptation to be greedy – You may see lots of good deals which appears to be a simple magic box to make money stay away or at least be extremely cautions .
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