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Plan for surviving a job loss: #3 Do not stop your Equity Mutual Fund

Saturday, May 20, 2017, 12:39 PM

You may be tempted to stop your Equity Mutual Fund SIP's in a layoff. Stopping SIP's of equity mutual funds in a layoff can affect your financial-goals. If you have enough money to manage household expenses for the next 3-6 months, you must keep your SIP's running. Take a look at your financial-situation. If your spouse is earning, you can easily continue your SIP's.
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Plan for surviving a job loss: #2 Make a household budget

Saturday, May 20, 2017, 12:31 PM

A budget will help you limit your expenses. Divide your expenses into discretionary and non-discretionary expenses to manage them better. A well planned budget not only helps you enjoy a reasonable standard of living, it also helps you achieve progress on getting to long term goals. Make sure your budget allows for a little spending in tough times like layoff.

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