Jobless Man With Rs 6 Lakh In Savings Asks Internet For Financial Guidance: 'It's Running Out'

A man who lost his job two months ago with only Rs 6 lakh in savings has sought the internet's help in navigating the difficult period amid financial stress. In a social media post, the man detailed that he was laid off in March with a 'decent severance' package, but finding a new job was proving to be a difficult task. With time running out, he wanted clarity on how to spend the remaining money without destroying his 'financial future'.

"Was laid off in March. Got a decent severance but it's running out. Total savings including severance is around Rs 6 lakh," the user wrote in a Reddit post, adding: "No EMIs. Rent is Rs 12k. Monthly expenses around Rs 22k total. So roughly 6-7 months of runway if I'm careful."

Though he was interviewing for jobs, the man said it could easily take three to six months or even longer to secure another source of employment.

"Actively interviewing but the market is rough right now. Could take 3 months, could take 6. Do I pause all SIPs? Liquidate anything? How do I protect what I have without making decisions I'll regret when I'm back on my feet?" the man said, adding: "Has anyone managed a job loss without completely derailing their finances?"

Check The Viral Post Here:

I got laid off 2 months ago, have ₹6L in savings, and no income. How do I make this money last while I figure out my next move without destroying my financial future?
by u/Wide_Sherbet2366 in FinancialPlanning_Ind

Social Media Reactions

As the post gained traction, social media users advised the individual to stop unnecessary expenses, pause investments and focus on upskilling for a new job.

"Cut down all unnecessary expenses, subscriptions. Food, roof and healthcare should be the priority. Pause investments, but don't liquidate unless you are in need of cash. Invest money in finding a new job. Upskilling," said one user, while another added: "I think use 10 per cent of that to upskill. Then think if anything else. That'll have the best return on your situation."

A third commented: "You should put your money in a liquid fund (very safe) that will fetch 6-7 per cent interest, and you can withdraw monthly from there. This way you can optimise your capital safe and earn interest."

A fourth said: "Yes pause investments, as someone suggested, put money in liquid funds or breakable FDs. Don't think about investments. I stopped all investments for 3-4 months I did not have job. The mental peace is worth much more than a mere 12-15 per cent in the market."