{"id":845112,"date":"2026-03-23T14:46:15","date_gmt":"2026-03-23T14:46:15","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/845112\/"},"modified":"2026-03-23T14:46:15","modified_gmt":"2026-03-23T14:46:15","slug":"im-nervous-i-am-going-to-be-laid-off-how-can-i-protect-myself","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/845112\/","title":{"rendered":"I’m nervous I am going to be laid off. How can I protect myself?"},"content":{"rendered":"

Pay Dirt is Slate\u2019s money advice column. Have a question? <\/strong>Send it to Kristin and Ilyce here<\/strong><\/a>. (It\u2019s anonymous!)<\/strong><\/p>\n

Dear Pay Dirt,<\/strong><\/p>\n

I\u2019m the sole earner of my household. My salary covers all the expenses, and I max out my 401(k) and put $1,500 in a 529 each month for my one child, who is in college. I don\u2019t think it\u2019ll be enough to get them through all four years, but I can cover what the scholarship doesn\u2019t, for now. And there\u2019s just enough left over to keep an emergency fund topped off. No debt aside from the mortgage.<\/p>\n

If I lose my job\u2014increasingly possible\u2014I can keep things afloat for six months without dipping into retirement savings, which is only the bare minimum for my age. Of course, if I lose my job, all savings contributions stop. I need to future-proof more and it\u2019s stressing me to death. I feel like there\u2019s no way to cover all the needs AND get ahead a little, and it\u2019d be SO EASY to fall into a deep pit, even though I\u2019ve worked my whole life to avoid it and I\u2019m doing everything right. Right?<\/p>\n

What can I change about how I manage what I do have? I keep most of the emergency fund in a short-term CD, but the returns are laughable. The 529 generates enough interest for a nice lunch out once a semester. I apparently don\u2019t have enough money for it to make money. Is there anything I\u2019m overlooking?<\/p>\n

\u2014What\u2019s the Trick?<\/p>\n

Dear What\u2019s the Trick?<\/strong><\/p>\n

There is no real trick to generating great wealth, which is the question I think you\u2019re asking. The missing magic is time. Unless you win the lottery or earn a great deal more than you spend, you have to allow wealth to accumulate over the passing years. Let me assure you: You\u2019re already doing everything right.<\/p>\n

Let\u2019s review your personal finances: You have no debt except a mortgage. You also have a fully funded emergency fund, a maxed-out 401(k), and a college savings plan for your child, even if you don\u2019t have that much in it. Altogether, your finances are ahead of the vast majority of Americans. The anxiety you\u2019re feeling isn\u2019t a sign that something is wrong\u2014it\u2019s the natural weight of being the only person standing between your family and financial instability. That\u2019s a genuinely hard load to carry, and it\u2019s okay to name it.<\/p>\n

Now, to your actual question about what else you can do. Here are a few things worth looking at:<\/p>\n

Keeping your emergency fund in a short-term CD is actually leaving a little bit of money on the table. It also locks your money in place rather than keeping it liquid. Consider moving it to a high-yield savings account\u2014many are currently paying 4% or better with full liquidity, no penalties for early withdrawals and you can access funds immediately if you need them.<\/p>\n

You say you\u2019re covering the difference between your child\u2019s needs and their scholarship. Can your child take out a loan for that difference? Can they get a part-time job to help pay for some of these extra items? Allowing that extra cash to percolate for you can help pad both your emergency fund and then perhaps fund a Roth IRA for retirement.<\/p>\n

The 529 returns you\u2019re describing suggest that money may have been invested too conservatively. On the other hand, when your child is approaching college or already enrolled, which yours is, conservative is the right approach. As I write this, the stock market has lost between 8 to 10 percent this year, so if you had invested the cash you needed there, you\u2019d be watching it shrink rather than grow. If your child was still in middle school, or even in the first year of high school, the money could have been apportioned in some age-appropriate growth funds rather than something that generates so-called lunch money. (I recognize looking backward isn\u2019t helpful to you now, but I do hope it will guide other readers.)<\/p>\n

When it comes to losing your job, that\u2019s a fear shared by many. The goal, which you may have reached, should be a minimum six months of runway for your emergency fund. If you can redirect even a modest amount monthly into a taxable brokerage account after maxing out your 401(k), you\u2019re building flexibility that retirement accounts don\u2019t offer.<\/p>\n

At the end of the day, I don\u2019t think you have a money management problem. You have a margin problem, and the only real solutions are earning more or spending less. Can your spouse or partner pick up some part-time work? Can you take on a second job temporarily to help bolster your savings?<\/p>\n

The fear of falling into a pit of debt is real. In uncertain times, which these certainly are, many people worry that the financial house they\u2019ve built for themselves might give way. But unless a catastrophe happens, things generally have a way of working out over the longer term. If you stay focused on the future, and continue to make all the right moves, you\u2019ll get through this. Again, time is your friend.<\/p>\n

\n Please keep questions short (<150 words), and don\u2018t submit the same question to multiple columns. We are unable to edit or remove questions after publication. Use pseudonyms to maintain anonymity. Your submission may be used in other Slate advice columns and may be edited for publication.\n <\/p>\n

Dear Pay Dirt, <\/strong><\/p>\n

\u201cJack,\u201d a 36-year-old man, and I, a 29-year-old woman, have been dating for about six months and are very deeply in love. We\u2019re both weird, introverted nerds who never dreamed we\u2019d find someone we\u2019re so into who\u2019s so into us. He is actually my first-ever serious relationship, and I\u2019m his second.<\/p>\n

Jack is still close friends with his ex, \u201cRuby,\u201d whom he dated in college. (She actually calls him her best friend.) Let me be very clear: I am not jealous or afraid Jack will cheat with Ruby. Not just because I trust him, but because Ruby is not really able to have sex. Ruby developed multiple chronic conditions in her mid-20s that have left her severely disabled. She has very little mobility in any part of her body without terrible pain. She uses a walker for short distances, a wheelchair for long, and often needs help eating, using the restroom, and bathing. Thus, despite coming from a wealthy family, she rarely leaves her parents\u2019 house. The exceptions are her vacations with Jack, which are typically once or twice a year and consist of cruises and trips to various Disney parks. Ruby pays both of their ways in return for Jack caring for and assisting her throughout.<\/p>\n

If we were also independently wealthy, and didn\u2019t have to take vacation days from work, I would be OK with this. But their next trip together is coming up, and I\u2019m thinking about how I\u2019m going to feel in the future if Jack continues to use up most or all of his vacation time going on trips with Ruby instead of me. I don\u2019t want to push to go with them, for several reasons:<\/p>\n

    \n
  1. \n

    While I have compassion for Ruby, she\u2019s not someone I enjoy interacting with, and I\u2019m sure she feels the same about me. She is very blunt and critical, I\u2019m very sensitive, and we have zero common interests.<\/p>\n<\/li>\n

  2. \n

    I don\u2019t like cruises or theme parks, and the kind of vacations I would like, and Jack admits he would too\u2014remote island getaways or walking through old European cities\u2014would not be possible for Ruby.<\/p>\n<\/li>\n

  3. \n

    Having to accommodate Ruby\u2019s pace and schedule, and having so much of Jack\u2019s time taken up with her, would make the trip less fun for me, regardless of the destination.<\/p>\n<\/li>\n

  4. \n

    I can\u2019t afford to pay my way on so many lavish trips, I wouldn\u2019t want Ruby to, and I\u2019d prefer Jack save his money for other things.<\/p>\n<\/li>\n<\/ol>\n

    However, I feel horrible about wanting to ask him to dial these occasions back, because I know they are the highlight of Ruby\u2019s otherwise very depressing life. How and when can I begin to talk to Jack about this without sounding jealous, possessive, or like I\u2019m planning our whole life together too early in our relationship?<\/p>\n

    \u2014Only Jealous of His Vacation Days<\/p>\n

    Dear Only Jealous of His Vacation Days,<\/strong><\/p>\n

    It\u2019s evident you\u2019ve thought about this carefully and honestly. The fact that you can clearly articulate what bothers you\u2014and what doesn\u2019t\u2014is exactly the foundation you need for a conversation you need to have with Jack.<\/p>\n

    Here\u2019s the good news: You don\u2019t have to frame this as asking him to dial anything back. Not yet, anyway. You\u2019re six months into this relationship, and what you actually need right now is information. How much vacation time does Jack have? What kind of vacations does he envision for the two of you going forward? Does he want to spend some of that time with your friends? Those are reasonable questions for someone in a deepening relationship to ask, and they don\u2019t require you to issue any ultimatums or make any demands. In fact, I wouldn\u2019t even mention Ruby.<\/p>\n

      \n
    1. \n <\/p>\n

      Our Daughter Walked in on the Moment That Ended My Marriage. She Isn\u2019t the Same.
      \n <\/a>\n <\/li>\n<\/ol>\n

      So start there. Tell him that you\u2019ve been thinking about the future and that you\u2019d love to talk about what a vacation might look like for the two of you\u2014what you\u2019d both enjoy, what\u2019s realistic financially, how you\u2019d want to spend that time together. Let him tell you what he\u2019s thinking. You may find he\u2019s already been wondering how to balance things, or that he has more vacation time than you realize, or that the Ruby trips are more flexible than they appear.<\/p>\n

      If you take a few steps back, what you\u2019re really asking is this: Is there room for me in your life as a full and primary partner? That\u2019s a fair question at six months, and a necessary one before this goes much further. Again, you don\u2019t have to frame it around Ruby at all, who shouldn\u2019t be a third partner in your relationship.<\/p>\n

      Ruby\u2019s situation is genuinely hard and unfortunate, and your compassion for her is real and evident. Those are wonderful qualities. But you are also allowed to have needs. A partner worth keeping will want to know what they are and find a way to meet at least in the middle.<\/p>\n

      (How to Do It columnists Rich Juzwick and Jessica Stoya also received this letter; see how they answered it<\/a>. )<\/p>\n

      \u2014Ilyce<\/p>\n

      Classic Prudie<\/p>\n

      I\u2019ve made a terrible mistake. I flirted heavily with a co-worker at our holiday party, much more so than a married woman should flirt. Lots of touching, and there was a moment where we almost kissed but held back. Afterward we exchanged very suggestive texts for a day or two.\u00a0If I\u2019m totally honest I really enjoyed the tension and thrill of it, and I definitely did more than my part to start and keep the situation going.<\/a><\/p>\n

      Get the latest from Prudie and our columnists in your inbox each weekday, plus special bonus letters on Saturdays.\n <\/p>\n","protected":false},"excerpt":{"rendered":"Pay Dirt is Slate\u2019s money advice column. Have a question? Send it to Kristin and Ilyce here. (It\u2019s…\n","protected":false},"author":2,"featured_media":845113,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3093],"tags":[4376,51,474,2499,16,15],"class_list":{"0":"post-845112","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-advice","9":"tag-business","10":"tag-finance","11":"tag-personal-finance","12":"tag-uk","13":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/116279036140678119","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/845112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=845112"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/845112\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/845113"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=845112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=845112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=845112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}