EUNICE SIBIYA, INDEPENDENT FINANCIAL COACH
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Faced with the possibility of losing your job, it is easy for panic to set in as you consider your mounting monthly expenses and dwindling bank balance.
Debts such as medical aid, car and house payments and school fees do not stop, but there are ways to manage your financial affairs to navigate through this time. It is important to realise that retrenchment is not always a negative. Sometimes a voluntary retrenchment, accompanied by a package, can be a positive for someone, especially those who have been with a company for many years and stuck in a job or salary rut. So don’t let your emotions cloud the decisions you need to make. This might be a great opportunity to work for someone else in the same industry for a higher salary or to start a new career following your passion.
Debts such as medical aid, car and house payments and school fees do not stop, but there are ways to manage your financial affairs to navigate through this time. It is important to realise that retrenchment is not always a negative. Sometimes a voluntary retrenchment, accompanied by a package, can be a positive for someone, especially those who have been with a company for many years and stuck in a job or salary rut. So don’t let your emotions cloud the decisions you need to make. This might be a great opportunity to work for someone else in the same industry for a higher salary or to start a new career following your passion.
