The recent market outlook had shown indication that we are heading towards technical recession due to the oil price slump crisis and the slowdown of the China's economy. Some companies that I had heard of, is starting to retrench their staffs to cut down on labour costs to keep their business expenses down. If that happens to you, are you prepared to go without a job for at least 3 to 6 months? Do you have enough savings or emergency fund to tide over this dark period? Some of my colleagues and friends are not prepared for it. They always could not meet the month's end due to their family commitment and also they are not prudent to save when they received their bonus or increment. They will usually spend it on holidays or splurge on themselves or with their girlfriend/wife on a nice dining to relieve their stress on ......