S1E278: Loss of income, not identity: navigating the psychology of retrenchment

S1E278: Loss of income, not identity: navigating the psychology of retrenchment

From BT Money Hacks by The Business Times

July 19, 2026 · 21 min · Season 1 · Episode 278

About this episode

The episode discusses the psychological and financial impacts of retrenchment and offers strategies for navigating this challenging experience.

Retrenchment isn't just a career setback; it's a financial and psychological earthquake. Howie Lim speaks with financial psychologist Dr Annabelle Chow about navigating the initial shock. What is the single biggest financial mistake most make in the first 48 hours and how to stop panic from driving your decisions? From mastering the "3-bucket" survival strategy to separating your identity from your paycheck, and moving from fear to clarity. Don’t let uncertainty manage your future. Reclaim your financial agency—because while jobs go, your security shouldn't. Synopsis: Every Monday, The Business Times breaks down useful financial tips. Highlights: 01:06 The #1 financial mistake after job loss 05:01 Untouchable when money's tight 07:50 Separating identity from paycheck 11:19 Pivoting careers without panic-driven decisions 13:32 The 3-bucket approach to surviving a layoff 19:30 One small financial win to regain control --- Send us your questions, thoughts, story ideas, and feedback to btpodcasts@sph.com.sg. --- Written and hosted by: Howie Lim (howielim@sph.com.sg) With Dr Annabelle Chow, financial psychologist, Annabelle Psychology Edited by: Howie Lim & Claressa…

People in this episode

Host: Howie Lim

Guest: Dr Annabelle Chow

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Mentioned in this episode

Organizations: Annabelle Psychology

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