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Facing an Uncertain Future - October 2001

As the old saying goes "the only thing certain in this life is death".

In today's world there are very few certainties. You can't even be certain of employment. A job for life is rare.

Most Australians will have four to six jobs throughout their working life. Some will change jobs voluntarily, others will be forced to change or into unemployment, facing a bleak and uncertain future.

How do you prepare for such eventualities? By planning for the future, whatever it may hold in store. If it is unemployment, you will be prepared when it hits. If it never hits, you have lost nothing, but gained peace of mind and security in knowing you would survive the crisis.
​"The reason why most people face the future with apprehension instead of anticipation is because they don't have it well designed."
Jim Rohn
The Emergency Survival Fund
The very first and most important thing you need to do is start an emergency survival fund. Do it now! Open a separate bank account just for this money. In the beginning, you may not have a large amount to allocate to this fund. But do it - even five or ten dollars a week adds up over time.

Have a portion of your pay deposited directly into this account every payday. That might be weekly, fortnightly, monthly or whenever you are paid. Over time, try to build this amount up until you are depositing 10% of your gross pay into this account every payday.

Plan to build the balance up until you have saved 3 months gross wages. With this amount of savings, you have the reassurance that when disaster strikes, you have a safety net to fall into.

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  • Home
  • Join the Club!
    • Twenty Reasons to Join the Cheapskates Club
    • Gift Memberships
  • About Us
    • Cath's Story
    • Ask Cath
    • Glossary of Cheapskating Terms
  • Forum
    • Current Forum Discussions
    • How to Use the Member Forum
  • Inspiration
    • Getting Started
    • Handmade Christmas Central >
      • Handmade Christmas 2025 is about to start
    • 31 Days of MOO Index
    • Articles
    • Back to Basics >
      • Back to Basics
      • Back to Basics Index
    • Housekeeping Routines
    • Budget Renovations
    • Saving Stories
  • SAVING REVOLUTION
    • 2025 Saving Revolution Index
    • Saving Revolution Resources
  • Recipes
    • Recipe File Index
    • Meal Plans
    • Add a Recipe
    • $300 a Month Food Challenge >
      • $300 a Month Food Challenge
      • The $300 a Month Food Challenge Forum
  • Newsletters
    • Newsletters 2025
  • Saving Money
    • Bill Paying System
    • Cheapskates Tip Store
    • Tip Sheets
    • Top Tip Competition
  • Contact
    • Changing Details
    • Help Files