At the time of writing, Storm Ophelia and Storm Brian have just hit Ireland. It got me thinking about contingency plans. I imagine the hospital I used to work in was flat out rescheduling appointments and shops and businesses around the country are counting cost of the loss of the day’s sales. So, in keeping with that theme, I have come up with a few contingency plans of my own.
Contingency against job loss
Make sure you have an emergency fund of at least three months’ worth of outgoings to tide you over until you get a new job
Use MS Excel to add up your monthly direct debits, standing orders, bills and all essential outgoings i.e. mortgage, insurance, assurance, food, utilities, prescriptions etc and multiple by at least 3. I suggest you keep these savings separate to your other savings that might be for holidays, education, home improvement and the like.
Future-proof your skills
Make sure you always keep your skills current and up to date. You want to be completely employable to potential employers. If you haven’t trained in years it’s not too late to start being proactive about your training.
If you are not on already, set up Linkedin and possibly Twitter profiles too so that you have a network built up if you ever need it to help with job hunting.
Contingency for the PA
Most (I hope all!) companies and businesses will have taken risk assessments and have emergency back up plans in the case of electrical failures, IT failures, data loss and other scenarios depending on the business type and the goods and/or services they provide. Make sure you are completely familiar with them. I would suggest having some of your own too.