Financial Advice to Younger Folk
I have 18 yrs of experience in all.I joined TCS as a lateral after 12 years of experience and switching 4 companies .
Just wanted to say its very important for everyone to build an emergency fund which can give them at least 6 months of no income runway - in these uncertain times. Before you make any big ticket purchases like a fancy car or tie yourself up in long term home loan EMI commitments - build that emergency fund first. If not 6 months - a minimum of 4.
It will give you a great sense of security and peace of mind in the unfortunate event of a layoff. Will give you sometime to cope with the initial emotional distress and give you some leeway to upskill and take your chance in the job market once again.
I wanted to write this since i observed a large number of folk being oblivious of or indifferent towards this fundamental aspect of financial management.
Some goof replied and deleted some crap comment about job security - to whoever that was , i am not worried aboit me pal - i have secured my future and want most people to secure theirs too to live in peace. I am priviliged in the fact that i don't have to support my parents ( if required they can support me), have a lovely wife who is a well paid professional and we have chosen to live a child free life as well. Many others will have all these extra responsibilities to contend with so all the more reason for them to think about financial security seriously.
Thank You for sharing this
Thanks @cerebral_15
