Publisher's Note

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Page added on March 20, 2016

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Always save for a rainy day

by: C.K.

Just recently our economy in Alberta has been in a limbo where day after day, week after week, all we hear is that people are getting laid off left, right and center in the oil and gas industry. Everyone in Alberta has been greatly affected with the downside of the economy as the price per barrel of crude oil has gone down significantly that caused a lot of projects to be shelved. This continuous lay-offs are happening in mostly oil and gas companies, engineering companies and oil and gas servicing companies.

There is a saying what goes down must go up and just like in economics, there is the law of supply and demand. Having been in the oil and gas industry for over 15 years, this is the 3rd time as far as I can remember that our economy went on a dive. But I must say that this is the worst dive it has ever been. In the world we live in today, there is no more security of tenure. You’re only good at your job the day you go to work; you’ll never know what happens the next day.

That is why, we should always learn to save for a rainy day, because we never know what will happen tomorrow. It’s always good if you have saved at least 3 months of your salary for a rainy day. Maybe others are good in their financial standing but others are not. Nevertheless, we should never lose hope if we ever got let go from our job. It’s just one chapter of life story that closed and a new and exciting chapter of your life is about to begin. And always remember the change is the only constant thing in this world as we should be open to changes that comes in our life.

In this difficult situations, we have to re-think of how we can save for a rainy day so we do not get caught unaware when this kind of situation develops. Here are a few tips that will help you save a little each you go to work:

- cut down on buying coffee and instead if you company provides you with a coffee machine then make use of that; you can save between $ 2 – $ 5 a day

- drink more water than specialty juices that costs a lot so if bottled water is provided by the company drink more water, it’s healthier

- bring your own pack lunch and snacks to work instead of buying from the food court; once a week eating out at lunch should be ok especially if you with friends for lunch.for

- for smokers, cut down on the number of sticks you smoke in a day. It just doesn’t hurt your pocket but smoking is also bad for your health.

- carpooling will help you save instead of driving to work everyday and spending a lot of money on parking fees and gas.

- cut down on too much shopping especially if you don’t have the money, then you don’t need it.

As they saying goes, when one door closes, another one opens.

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