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There is never a good time to be retrenched. But what happens when it strikes at the worst possible time?
Luke Jau shares how he navigated a sudden job loss with a baby on the way on this episode.
Here's an excerpt from the conversation:
Gerald Tan, host:
When you got the (retrenchment) news, where were you at that stage of life? What were you expecting to do? Where were you at?
Luke Jau, father of newborn:
This company came along with pretty good benefits, better than most (jobs in Singapore), from what I know. And because of this, my wife and I, we were confident to have a new kid.
We were confident to invest in a car for the kid and we had our new house. We moved in September last year. So there were a lot of things that we were prepared to invest in, to pay for.
Gerald:
So when the news came and then you had all these things with a new car, kid coming along the way, a house. What were you most worried about?
Luke:
Gerald:
It's not easy having to go through all these changes at the same time.
Tiffany Ang, host:
What was the first thing that you and your wife decided to do?
Luke:
Cut down on lifestyle spending. Like we used to go to Sushiro. But we go to Sushi Express. Or sometimes, FairPrice sushi is good enough for us.
Gerald:
Sounds like a very big adjustment in terms of lifestyle, in terms of what you're used to having, what you're used to eating or doing as well.
Tiffany:
I mean yes and no, because he didn't exactly cut out sushi from his life, if we use that as an example. But he just found cheaper alternatives so they could still enjoy what they used to enjoy. It's just that maybe it's not the premium level that we would be used to, or we would be going for. But it doesn't mean that it's terrible.
Gerald:
It's a lot of financial considerations, mainly in terms of all the adjustments. So when this retrenchment happened, financially. how did you work around the figures? How did you know what to spend on?
Did you have life savings to tide you over this period?
Luke:
Yes, we did. My wife and I, we both had about three, four months of emergency savings. Right now, I have tapped into almost half of it already. But my wife still continues to build on her emergency savings, which is good.
Listen to more episodes here.
A new episode of Work It drops every Monday. Follow the podcast on Apple Podcasts or Spotify for the latest updates.
Have a great topic for us? Drop the team an email at
Source: CNA/ta
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FAST
There is never a good time to be retrenched. But what happens when it strikes at the worst possible time?
Luke Jau shares how he navigated a sudden job loss with a baby on the way on this episode.
Here's an excerpt from the conversation:
Gerald Tan, host:
When you got the (retrenchment) news, where were you at that stage of life? What were you expecting to do? Where were you at?
Luke Jau, father of newborn:
This company came along with pretty good benefits, better than most (jobs in Singapore), from what I know. And because of this, my wife and I, we were confident to have a new kid.
We were confident to invest in a car for the kid and we had our new house. We moved in September last year. So there were a lot of things that we were prepared to invest in, to pay for.
Gerald:
So when the news came and then you had all these things with a new car, kid coming along the way, a house. What were you most worried about?
Luke:
Gerald:
It's not easy having to go through all these changes at the same time.
Tiffany Ang, host:
What was the first thing that you and your wife decided to do?
Luke:
Cut down on lifestyle spending. Like we used to go to Sushiro. But we go to Sushi Express. Or sometimes, FairPrice sushi is good enough for us.
Gerald:
Sounds like a very big adjustment in terms of lifestyle, in terms of what you're used to having, what you're used to eating or doing as well.
Tiffany:
I mean yes and no, because he didn't exactly cut out sushi from his life, if we use that as an example. But he just found cheaper alternatives so they could still enjoy what they used to enjoy. It's just that maybe it's not the premium level that we would be used to, or we would be going for. But it doesn't mean that it's terrible.
Gerald:
It's a lot of financial considerations, mainly in terms of all the adjustments. So when this retrenchment happened, financially. how did you work around the figures? How did you know what to spend on?
Did you have life savings to tide you over this period?
Luke:
Yes, we did. My wife and I, we both had about three, four months of emergency savings. Right now, I have tapped into almost half of it already. But my wife still continues to build on her emergency savings, which is good.
Listen to more episodes here.
A new episode of Work It drops every Monday. Follow the podcast on Apple Podcasts or Spotify for the latest updates.
Have a great topic for us? Drop the team an email at
Source: CNA/ta
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