[Schneed10]

General notes though. This economic climate highlights the importance of saving for a rainy day and managing your finances efficiently and frugally.

While I feel safe in my job, there's always the chance (though slim) that senior management could wipe out our entire department. But by living like a cheapskate I've built up a good savings cushion to help me deal with the unknown. And even though I feel safe, having that cushion there makes me feel even safer. Having savings to fall back on is the best backup plan.

I also do the math on my monthly budget fairly regularly. I know that my savings could last 8 months to support my family's basic monthly expenses. It's important for everyone to know that number, their "days cash on hand".

Building savings is easier said than done sometimes, that is not lost on me. But it's incredibly important, if for no other reason than letting you sleep easier at night.