With that aside, let's get into the crux of this post.
My Contract Was Not Renewed
Each September, The Motley Fool sets its budget for the next fiscal year. Due to the significant economic changes since I started in 2021, tough decisions and cutbacks had to be made. Thus, my contract was not renewed for the next fiscal year.
Going into it, I knew this would be a possibility. But I was fine with it because of the autonomy over my schedule the opportunity provided me. I was able to spend more time with my nephew and avoid commuting to work.
The First Takeaway: An Emergency Fund Provides Peace of Mind
Having a roughly three month emergency fund helped to cushion the blow a bit. Fortunately, I look to have a new opportunity in the works that I will elaborate on more as it unfolds.
For the rest of this year, I am going to be working on building my emergency fund further to six or seven months of expenses for good measure.
The Second Takeaway: Things Happen for a Reason
A couple of years back, an opportunity fell into my lap. But because I was settled into Motley Fool and progressing from writing five articles a week to ultimately 11 before I was laid off, I passed on said opportunity.
I had always wondered what might have been had I taken the opportunity and ran with it. Now, by God's grace, I have another chance.
As disappointing as news of my job loss initially was, I feel blessed to have wrote almost 900 articles for Motley Fool. And I'm looking forward to my next opportunity.
Have you ever lost a job?
Were you fortunate enough to have an emergency fund?
Thanks for reading and please feel free to comment below.