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[quote=Anonymous]The answer is that as a nanny, you are responsible for providing your own safety net. What that looks like in practice is: 1) having a budget and staying inside of it. As someone who is probably living paycheck to paycheck, it is really important to know what money you have coming in and what goes out. 2) have an emergency fund. Ideally, you would have 3 to 6 months worth of basic bills covered. Keep that cash in the savings account where it can be readily withdrawn, and save it for emergencies like having someone bail on you. 3) multiple sources of income. I am a full-time nanny, but I also keep in touch with former employers and let it be known that I am available for babysitting on weekends, AND I do sode jobs as an in-home chef, AND I keep up with care.com/sittercity.com and look for date night/weekend jobs. If I lost my job, I would ramp up my babysitting and chef jobs to balance the hit to my income.[/quote]
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