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Old 03-09-2017, 01:10 PM
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Quote:
Originally Posted by Unregistered View Post
I have savings but I have not reached a point where passive income is enough for expenses, so what will be yr suggestion?
Is taking a paycut affecting future prospects?
Then you have 2 options:

1) If your passive income is enough to get by with reasonable cuts into your living standards, might as well make the cuts and continue holding on to current pay expectations.

2) If passive income too low to sustain then it is time to lower your pay demands, otherwise when things get desperate you run out of options even worse. I know of people who keep holding on until savings nearly run out, then they start panicking and no choice take up random jobs like security, uber driver, delivery etc.

Whether you take a paycut or extend unemployment period both options will damage your CV & affect your future pay prospects to some extent. The important thing is to choose the option that causes less damage to you.
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