Do you have a backup plan – If you lose your job?

Too comfortable with your desk job

A desk job in front of the computer from 9 to 5 is a very common thing in this day and age. With the rapid advancement of information technology Deskjob1and blinding internet speed, it is very easy for us to be comfortable in our own cosy little desk in the office.

However, how sure are you that you are going to be safe in your own desk job? What if something happened to you or your closest family members? What if an unforeseen mishap happens and you could not go to work in the office for weeks? Do you have any backup plan or emergency cash to fall into?

Emergency plan to fall into

Plan for disaster

If your answer is no, then you are only one pay check away from a financial disaster. You do not want that to happen. It is better if you have an emergency plan to fall into should this happens to you.

I personally do not feel safe with my current office job. I have been working there for more than 4 years. My salary has not risen significantly, but my job and responsibility keeps piling up.  I have been saving and investing what little extra that I have but I do not think they are sufficient enough should something happen to me and my family.

Steps that can be taken

So what are the things or steps that you can do to avoid falling into deep financial disaster?

Set-up an Emergency Fund – Try to save about 6 months’ worth of your salary into a saving account. The emergency fund is not meant for Emergency Fund1investing, but more for quick liquid cash should the need arise.

Spend Less Than You Earn – Some of you may say that you do not have extra cash to save. Well, try and learn to be frugal then. Do not spend more than you earn. The best way to do that is try to pay by cash whenever possible and only use credit card when necessary.

Learn Personal Finance – Learn to educate yourself on the basics of personal finance so that you can learn to manage your money responsibly. A good website on personal finance that I would recommend would be thesimpledollar.com. The book “Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!” by Robert Kiyosaki is one of my all time favorite because it inspires me to learn more about increasing our financial IQ. “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” is a must read if you want to learn to manage your personal finance the right way and retire wealthy.

Personal Finance

Aim for Multiple Income Stream (MSI) – Start a side business or part time gigs to supplement your income. If your job turns sour, at least you have something to fall back on. I wrote an article about MSI and you can read them here.MSI pic1

The above are just a few of the back-up plan that you can do to help get out of sticky financial situations. Even though I am busy with my day job during the daytime, I make sure that I spend some time outside of the working hours and weekends to educate myself and delve into other side business.

My favorite past time – Build Online Business

My favorite past time is learning to build my online business through my no.1 rated affiliate program here, make money and get extra income out of it. My goal is to eventually to earn enough so that I can resign from my job and escape from the rat race for good.

I hope you guys enjoy my post. If you have any questions or comments, you can contact me at my affiliate profile here or just leave a comment below!


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Do you have a backup plan – If you lose your job?
Sometimes we are too comfortable with our job. But have we ever thought of what to do if suddenly we are lose our job for whatever reason? Are we ready for that? Therefore, we should have a backup plan for any kind emergency. Read my backup recommendations in this post.


I decided to start my own online business so that I can escape the rat race that I am in. Things are really progressing well and it is just a matter of time before I can be finally free from my 9-5 job. With ratracebuster.com, I hope I can help other people to escape or avoid the rat race through learning the online business and other legitimate opportunity in the online world. I will be reviewing products, sharing discussions, and blog about my online business ventures as well.


  1. Hi Dominic,
    I really enjoyed this article. Finances are always on my mind and since I’ve had job issues and health issues over the last 7 years or so (I actually wonder if I have a curse on me!) where I’ve been left without income, I can’t tell you how truly important this information is. I hope everyone who reads this will take your advice to heart and follow through!
    Nice work!

    • Thank you very much for taking time to read my article Laurie. I am glad that you enjoyed my article. You can do it Laurie, we must believe in ourself, do all what we can and we will eventually succeeds in life.


  2. Awesome, nice article Dlansing. The spending less than you earn is a big one for me, because so many people make this mistake and don’t take account it is the reason they are broke or end up in bad situations…

    • Thank you Mr Komodo for taking to read my article. Spending less than you earn is really important to make sure we don’t mess our personal finance. Education on personal finance and money management is the way to go.


  3. Hello Dominic Good overview of key concepts here and explained very well and you recommend some good books and I like your images they are spot on.

    You are right about creating a backup plan and Wealthy Affiliate is a great way to do that. It won’t happen overnight but it will happen if you follow the training and implement the steps and the put them into practice.

    Good to know you are giving people good advice which is a refreshing change to much of the information on the internet these days. Good work 😉

    • Thanks Peter 🙂 I do hope my post can help those who may need a bit of perspective and have some kind of a back-up plan in case one lose his jobs

  4. Being without a job is one of the worse things to happen to a person. I have been there. It certainly is not a good thing when you have no money comeing in and worried about how you will support your family on it.

    You have to learn new skills. I like you article because it points out alot of the things I have learnt along the way. One of which is do not rely on just one source of income. You need more!

    • Could not agree with you more Andy. Being jobless and broke is one of the worst things that can happen to a person. That is why having more than one source of income or at least some kind of a back-up is really important to help us in case of we are having problem with our main source income.

  5. I think it’s a great idea to have a backup plan because no one is guaranteed from losing a job and we should be ready for it to happen anytime. I personally when joined WA did so for two reasons: one reason was because I wanted to have an extra income to support my family and the other reason was because I knew that I could lose my job anytime and someday it would definitely happen. It’s just a matter of time. And I’m really happy that I found WA and now working on my site and build my business gradually. Yes. it takes time before you start making money consistently but if you are consistent in what you do your backup plan will pay off later.

    • Thank you Rufat, you are basically saying the same way like I’m thinking! Having a backup plan will greatly help us in case anything happens in our job. And in today’s shaky economy, it is hard to find a proper stable job anymore. Wealthy Affiliate can provide us the necessary training and skills in online marketing, that we can apply to a successful online entrepreneur or at least making some income honestly online.

  6. I really like the idea of your favorite past time – building up an online business. There;s nothing more exciting than being in charge of your own destiny.
    The only problem is that I really don’t know where to start? I see lots of adverts for startups online but which ones are scam?

    • Hi Chris, yes I can’t blame you that scams seems to be everywhere nowadays. For me personally, I highly recommend you to try Wealthy Affiliate Free Starter Program. They are absolutely legitimate, and you can try them for free without any obligation. If you like the program, you join the program for a reasonable fee, but if you don’t, you can still access the free version and be given 2 websites for free for you to tinker and learn. I can tell you that even the free version has so much value and actually good enough for you to learn the basics of making money online. All the best Chris!

  7. Hi Dominic,
    My husband and I have always talked about having an emergency fund, but it wasn’t until 5-6 years ago that we started getting a little more serious about it. We now have an emergency fund that should last about 12 months. We also have money in a Roth IRA for our retirement and other money that is in the stock market. We are planning on diversifying even more. We have decided to buy a house (very small) or 2 that we can fix up and rent out. That will be coming out of my husband’s check. He just paid off his car, so he wanted to use part of that payment to invest and some to put into savings.
    I personally am learning to build websites. I plan on having some sites that receive recurring income. It’s a work in progress though. 😉
    ~ Melinda

    • Hi Melinda, wow you have certainly made a lot of great backup plans for your future. I have no doubt that you will be able to have a decent financial security with such a good backup plan. Having an emergency fund is always a great way to start. Retirement is a great way to help your financial needs during the old age. I can also see that you guys are using a combination of savings and investments, and now an online business? My hats off to you and your husband Melinda 🙂

  8. Hey! Great post you have created here.
    I can confirm this post totally, there’s no place online to start your business than Wealthy Affiliate!
    I’m sure many people will find this article useful and interesting as I did.
    Thanks for sharing this and have a great day!
    Cheers and good luck

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