7 Ways to Protect Your Savings after a Job Loss ...

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COMMENT

You worked hard to build your savings account, and fortunately, there are ways to protect your savings after a job loss. Although a savings account comes in handy during an emergency, you don't want a single emergency to drain your funds. There's no way to guarantee when you'll find new employment, but there are ways to protect your savings while you look for work.

1. Reduce Expenses

Reducing expenses is one of the best ways to protect your savings after a job loss. As soon as you get your pink slip, start making adjustments. For example, some people have cut cable and other non-essential monthly bills to drum up extra cash. Also, you need to adopt a frugal mindset. Only buy what you need, and only shop when you have a coupon.

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