Prepare for job loss or a drop in income with this free tool
Losing your job, facing retrenchment or moving into a role with a much lower salary can be a major life change that affects far more than your finances.
A clear picture of your numbers helps you understand the options available to you and make informed decisions about what comes next. Your savings, monthly expenses, debt repayments and any income you may still receive all shape how much time and flexibility you have.
The Wealthbit Loss of Income tool brings these numbers together in one place.
Choose the situation that applies to you and use the tool to calculate your financial runway, understand the cost of an income change and identify the actions that matter most.
The tool gives you a clear view of:
- How long your savings could cover your current expenses
- How your runway changes when you reduce flexible spending
- The minimum amount you need each month to cover essential expenses and debt
- The UIF and severance pay you may receive after retrenchment
- How much a gap between jobs could cost you
- How a lower salary could affect your monthly finances
- The steps to take during the first few weeks of an income change
This tool forms part of Wealthbit’s Financial Freedom Programme®.
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