How to lose the fear of losing your job

I was thinking the other day about the Debt Free Living Podcast interview I did with Scott Maderer last year. In talking about the benefits of being debt free, Scott said that it has helped his career because he is not afraid to get fired anymore.

The more and more I think about what Scott said, I really think he’s on to something. Think about it; if you have no monthly debt payments hanging around your neck and have 6 months’ worth of expenses saved, you would be able to survive a job loss wouldn’t you? Granted it would not be ideal, but the ramifications of not fearing losing your job can be a great thing for your career.

If you can afford to lose your job you don’t worry about speaking up and going against the boss’s opinion in a meeting. Or you don’t worry about suggesting a process change that has been very popular in the past. Instead you speak your mind, take risks, and become a very valuable resource to the company. Rather then playing it “safe” and not risking making anyone mad, instead you are more valuable and make more money! All by simply paying off your debt and not having to work just to pay your bills.

For those of you who are debt free, have you found that you are more confident in your job since you became debt free? Do you still have a fear of losing your job or has the fear been lessened?

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4 Responses to How to lose the fear of losing your job

  1. Great post!
    While we are not there I definitely feel the reigns of fear about losing my job loosen with each dollar of debt paid off. It has allowed me to free my thinking to start up my own business on the side where I will be eventually working full time in my passion – very cool to have this freedom.
    Live Beyond Awesome.
    Twitter: @TheJenMcDonough

    • Jon White says:

       Totally agree Jen. When you have no debt you have more options and take
      “risks” instead of having to stick with the “safe” job just so you can
      make your monthly payments. 

  2. Dan Black says:

    I think if we are so worried about losing our job all the time then we can lose being productive within our job.  I agree if you have an emergency fund, some of the pressure comes off you. I’m still working on my fund.

    • JWFinancialCoaching says:

      Bingo Dan! When you are worried about losing your job or income you can’t help but become less productive. In turn you actually give you job a reason to let you go if they have to. It’s kind of like self-fulfilling prophecy.

      Congrats on working on your emergency fund. When it’s fully funded you’ll love the peace it brings. Like I always say, it turns a crisis into an inconvenience.

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