Yes, you heard it right, you are free to go… go find your next job..

Gentleman.. start your job-searching engine..

It’s a very brief meeting.. very short, but it makes me cannot sleep throughout the night. Try to sleep on it.., but I keep re-awake..

Am i supposed to feel liberated? wouldn’t I? but how come I feel miserable? or suddenly feel insecure.. ?

The thought of not able to secure next job.. makes me shudder..suddenly, it dawned upon me..! activate my emergency fund mode..! I’m in crisis now..!

eh.. am I? not yet.. not until the months passed by.

Financial fire-drill..

have you ever had a financial fire drill? once? ever? in your life? ahaa., normally we go through fire drill in our office.. from simple fire drill to full evacuation mode right? this is to test our readiness if such situation occur..!

Everything in life also deserve a fire-drill to test how we would response if the real situation come. Have you tried emergency braking while driving hard your car.. to check if you are prepared for any untoward accident while driving? I’ve done that..  , that one of the must do in my car routine year-in, year-out.. (alone offcourse..)- how? Drive as fast as you think you can handle in a middle of empty road, deserted highway – > Mex highway, Lekas highway.. or simply my usual 4 lane highway to office.. (during off peak hour). think of some scenario.. suddenly hit the brake hard.. let the momentum take control.. and see if you can manage it..

Purpose of doing that? – to test myself in handling that situation (firstly), to test how the car performed during emergency.. how it would brake..  would it spin? so far.., i’m quite confident of my car, after the drill. Sometimes , i would drive fast in the rain then slammed on the brakes to see how the car behaves in wet. My recent car-drill was after changing the tyre.. to test the new tyre.. how it would perform in emergency.. er., this new tyre does not perform as well as previous Potenza tyre. But – that’s already calculated – when i’m purchasing this tyre.. the purpose is to max my fuel.. so this is the trade off.

ah.. enough car drill. Back to financial fire-drill. What is the scenario?

ahaa…, it’s for me to run it on paper 1st.. to see if I can succeed in surviving, if worst thing would happen.

it involves a lot of what-if.. and what if scenario..

In life, there are lots of thing you can’t predict – you cant predict when you would get illness, when you’re gonna be layoff, or suddenly being left out in a cold.

Have you prepared enough to face this hard time – if it’s really dawned upon you? How to get through this financial fire drill?

1. The need to established baseline expenses.. (did you know what your baseline expenses? it’s a basic expenses minus all the fat.. , and how your income cover it every months)

But doing finance fire drill is a bit different than doing your budget.., it’s akin to listing, but from the list – we need to slash on a lot of item in the list.. (what are the 1st item to go from your list.. – Astro? Internet? that expensive Gym club membership..(not that I have one.. :p), that expensive eating out affair.. andthe list can go on.. )

Established that minimum spending line..

Minimum means it’s cut down to the very basic. Maybe need a bit harsh on self.. but if life become harsh.., you need some discipline soldier!

  • Transport mode – this one would be the 1st one to be on slashing line.. do you still need that flashy new car? or just can survive on normal transport mode? or switch to two-wheeler?
  • Food. Maybe start an eat-in regime only? or start shopping in Giant instead of Carrefour or Cold storage? :p.. or even better – Balaji in Pasar borong.. would offer you better value..!? (as if I never go to Balaji lah.. )
  • House. Maybe it’s time to start consider to make some money out of the empty room? (I’ve always  had an idea of renting that empty room to people who are looking for a short night on their trip to Cyberjaya/Putrajaya/Serdang).
  • Bill . Ah.., this one, quite easy, I have tried many methods of reducing my bill to minimum..! and yes .. I have succeed in reducing the bill to less than 100 per month.. while still using my air-cond to sleep at night.. and other activities.. How? aha., this one I can share in a later post (if got people request.. how..)
  • Debt? Manage your dept now! stop making those extra purchase using your credit card.! Plan on how to defer your PTPTN loan (study loan that most malaysian take to further their studies). And if your credit card balance is still ballooning – plan how to pay. If you don’t know how to.. it’s time to go to AKPK. They’re the best at rescheduling all your debt. I owed them once.. for helping me with my previous debt issue..!
  • Visit AKPK! ( yest.. why not make this a bullet point of it’s own!) – if you don’t know or don’t have any idea of to re-strategies all your debt.. or financial, go visit this govt. agency. They are best person to seek advise pertaining to debt re-strategize)

Now – after doing all the minimum bare listing, add it all up..!.There you go.. 1 figure of how much you really need each month to go by..!

How much many in the banks? or elsewhere?

Nah.., after you know what’s your mimimum skeletal budget, now.. we talk about where’s the money to cover it?

Got saving? you’re lucky..! got Insurance? even better.. (i’m lucky on this part ..), what’s your epf monies level? time to relook all your Unit trust investment?

Maybe you can read this blogger accounts on how she gets through it ->

Reader Story: Saving the American Way…and the Bulgarian Way

Quite an interesting story eh?

After reading the girl stories., a thought of myself come into picture, aah.. i’ve come a long way too.. the same way long time ago.! Yes.. I have a failed business too that time.., have huge debt.. and was looking at future life with blank eye that time… and after that – gone through certain failure again and again.. and look a where I am now.. 1 word immediately sprang to mind – Alhamdulillah.. alhamdulillah… alhamdulillah, Syukur Ya Allah.. tuhan maha pemurah..

After go trough all these experience, all I can say , in life some we need to do short-term sacrifice for long-term security. Welcome to real life my friend! life is not a bed of roses ..

Intensify the search for alternative income streams

Now you know, the winter will be hard.. *(as if we ever got a chance to feel a winter in malaysia), set your mind.. embraced for it. It will be long, cold winter night..! you will be left cold outside.. how to survive.. (it felt cold here.. in this room.. as my aircond is on.., no wonder it feels like winter night in Barcelona)

What work can you do while waiting for the real job to come? a lot of odd job.. in nearby business or restaurant..

  • Do a Garage Sales! Maybe it’s time to list down all your gadget that you’ve been hoarding in the house.! you don’t need it anyway..! so.. let’s try to get some money at it.
  • Start a part-time job. Go out and check out that 7-eleven stores for some odd-job advert, buy saturday Star newspaper to look for possible new job..
  • Update you resume & CV –  Your resume already dated?? time to brush that dust off.. and polished back all the resume word.  t

ahh.. that’s all i can think off. Come to think of it.. after I lay it out bares.. it wasn’t so bad afterall..I’ve gone through a drastic salary paycut 1 or 2 years back..! which cut back my salary about 30-40% ! yes.. more than 30%.. ! pitam kejap..! (feels like wanna passed-out a bit), but I survived until now!.

Good luck to me..! good luck to you readers who’s reading this blog.. I hope you’ll got through it too!

Cheers.. morning..! (not gnite.. udah pagi laa beb!)