I am writing this just wondering if anyone with more experience than me would be willing to share any tips on how much a person needs to have saved in case of layoff or having to leave due to the stress and all that. There's so much info out there.... I've heard 1-3 months of bills, and then I've heard 3-6 months. Everything is so confusing and I don't really have anyone around who really understands what we are going through. Any advice would be helpful. Thank you in advance.
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I would say 6 months as others have eluded in this job market. With that being said interviews are much harder to come by. I would also look at your current expenses and see what are your needs vs your wants e.g. Hulu, HBO, coffee dates, etc.
@hc Agreed. I had recruiters and offers beating down my door a year and even 6 months ago and suddenly it all dried up and salaries tanked . Not sure wtf has happened but I don’t know what I’m going to do yet. Be aware centene offers job placement assist tht does not start until After you signed the agreement
In this j9b market the old standards won't work. If you're paying attention to the statistics, jobs are infinitely harder to find today compared to two years ago, one year ago, 6 months ago, etc. It continues to take longer to find one unless you're willing to take something in the service industry.
I believe a year of expenses is necessary. You find something sooner, that's great. There are extremely qualified people who have been looking for well over a year.
@bt Good advice.
I am sure the CEOs of Centene and CEOs of all these for-profit health insurance corporations set aside at least 6 months salary emergency fund in case they are laid off.
/sarcasm off
I would recommend 6 months minimum for all your household expenses.
After two layoffs in 5 years, I no longer live like I used to. If you are going to work in this industry you must always save like any day could be your last day. I would say at least 3-6 months of savings. Try to get out from under having a car payment as well. This will allow your savings to last longer.
@OP These days, six months minimum.
@OP 3-6 months of expenses.