Keeping some savings just in case is always a great approach. Undeniably, there is a number of situations that can go wrong with your job and then you will need some budget to solve these problems. Yet, it might happen you are so sure of your current job that you do see any possible scenarios of what can actually get wrong with it.
This article will help you to understand the possibilities better and protect yourself.
Losing a source of income
The most apparent scenario when you will need your reserve fund is losing a job. If you have ever looked for a job without any help of your acquaintances, you should be aware of the fact how difficult it might be and how much time the process can take. Certainly, even if you minimise your expenses during this time, you still will not be able to avoid the expenses at all.
This is even more important for people who cannot rely on anyone else.
Decrease in salary
Needless to say, your salary can always be decreased because of various situations. It can be especially unpleasant if the entire salary or its part is paid to you illegally. In such a situation, you will just have a choice of whether to stay at work or leave it.
In any case, you will be glad to have your savings.
A difficult situation at work
Again, one more scenario is connected to your work. Needless to say, various arguments and rather unpleasant practices are quite common in different companies and organisations and sometimes the amount of these issues is absolutely overwhelming.
If there is no reserve fund, it is rather unlikely you will be able to protect yourself when your boss is rather impolite with you, constantly giving you extra work or switching your tasks making your work life unbearable.
Losing the tool for your work
When it comes to various problems with your job, you certainly should remember about another possible scenario in which you might accidentally damage the tool you are actually using for your work.
This can be anything. You might be a copywriter whose computer died or a taxi driver who has got into an accident and has lost his car. In such a case you will have to purchase a new tool fast to start earning again and it is better to do it with your savings rather than to reach out for a loan.