This economy is really starting to hit people where it hurts: at work.
A few months ago, I knew many people who were cutting back on discretionary spending but most of them weren’t worried about their jobs. No one I knew had lost his or her job.
Unfortunately yesterday, two people I know were laid off. They worked in different states and at different companies. And that's hardly the end. The company I work for is planning to lay off 10 percent of its workforce. I read yesterday that Fidelity Investments in Boston is planning a major layoff. Those folks would join the hundreds of thousands already laid off this year
To be on the safe side, Single Ma, who writes the Fabulous Financials blog, says she's beefing up her emergency fund to cover her for a full year. Good idea if you can afford to do it.
Are you worried about your job right now? And if so, what kind of contingency plan do you have in place to make sure you're alright if you lose it?