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'Severance is running out’: Laid-off employee with ₹6 lakh savings seeks financial advice on Reddit
The Redditor explained that he currently has no EMIs, pays ₹12,000 in rent and spends around ₹22,000 a month in total.
A Reddit post by a laid-off employee seeking advice on how to survive financially with ₹6 lakh in savings has caught the internet’s attention, with many users sharing practical tips on budgeting, investments and coping with unemployment stress.
In the post titled, “I got laid off 2 months ago, have ₹6L in savings, and no income. How do I make this money last while I figure out my next move without destroying my financial future?”, the user revealed that he was laid off in March and is currently surviving on severance pay and savings.
“Was laid off in March. Got a decent severance but it’s running out. Total savings including severance is around ₹6L,” the user wrote.
He explained that he currently has no EMIs, pays ₹12,000 in rent and spends around ₹22,000 a month in total. “So roughly 6-7 months of runway if I’m careful,” the post read.
The user added that while he is actively interviewing for jobs, the market remains difficult. “Could take 3 months, could take 6,” he wrote, before asking others whether he should pause SIPs, liquidate investments or make other financial changes to stretch their savings.
“How do I protect what I have without making decisions I’ll regret when I’m back on my feet? “Has anyone managed a job loss without completely derailing their finances?” the user asked.
Social media reactions
The post quickly drew responses from Reddit users, many of whom advised the employee to prioritise essential spending and avoid panic decisions.
“Cut down all unnecessary expenses, subscriptions, etc. Food, Roof and Healthcare should be the priority. Pause investments but don’t liquidate unless you are in need of cash. Invest money in finding new job. Upskilling, etc,” one user wrote.
Another suggested shifting savings into safer financial instruments while searching for work. “You should put your money in Liquid fund(Very safe) that will fetch 6-7% interest and you can withdraw monthly from there. this way you can optimize your capital safe and earning interest. Also opt for part time freelance/gig work as well,” the user wrote.
Several users said they had gone through similar experiences themselves and stressed the importance of preserving mental peace during unemployment.
“Yes pause investments, as someone suggested, put money in liquid funds or breakable FDs. Don’t think about investments. I stopped all investments during 3-4 months I did not have job. The mental peace is worth much more than a mere 12-15% in market. However, doesn’t mean you get comfortable. Keep searching aggressively,” one Reddit user wrote.
“Pause all SIPs Rent is non negotiable so its fine Other expenses you said 22k, I assume it included the commute to office so you can try and reduce that as well Focus on applying jobs, since you accurately said it will take 3 to 6 months Also, try taking small budget friendly trips or meeting friends during this time And playing any sport or going to gym helps a lot too You got this, all the best!” said another.
(Disclaimer: This report is based on user-generated content from social media. HT.com has not independently verified the claims and does not endorse them.)
