This archive report was first published on 6 July 2020.
Surviving the Unexpected: Terryanne Chebet's Story ¶
On July 6, 2020, Terryanne Chebet, a veteran business journalist, was forced to adapt to a new reality after being let go from her position at Citizen TV due to a 'restructuring' process.
As the sole breadwinner for her children, Chebet's sudden job loss put immense pressure on her. However, she has since found a way to navigate this challenging situation and is now sharing her 10-point plan for financial stability with others who may be facing similar circumstances.
'The feelings can be very intense, and confusing. The shock, betrayal, anger and even denial very quickly toss us into a world that's constantly spiraling,' Chebet said, reflecting on her experience.
Lessons Learned ¶
- Take control of your budget: Chebet emphasizes the importance of accounting for every activity that requires financial outlay, from food and transport to rent and entertainment.
- Down-size: Chebet advises cutting back on non-essential expenses, such as dining out or moving to a cheaper living arrangement.
- Restructure your debt: Chebet recommends setting up a payment plan with banks and communicating with creditors to avoid defaulting on loans.
- Health insurance/Savings: Chebet stresses the need for health insurance and savings plans to ensure financial security.
- Re-write your own strategic plan: Chebet advises creating a 5-10 year plan, evaluating your career, and working on your skills to increase earning potential.
- Update and clean up your CV on online presence: Chebet suggests updating your LinkedIn profile and working on your CV to increase visibility.
- Network with industry peers: Chebet recommends attending webinars, online forums, and networking events to stay connected with industry professionals.
- Build your personal brand: Chebet advises working on your personal brand, including your online presence, to increase visibility and credibility.
- Get physically active: Chebet stresses the importance of physical activity for brain health and memory.
- Tell your story: Chebet encourages sharing your story, no matter how uncomfortable, to increase visibility and credibility.
