Budgeting
Five Things to Consider When You Lose Your Job
In this economy, companies occasionally have to downsize. Mass layoffs occur and people lose their jobs, thousands of people are let go unexpectedly. Many people are then unaware of what to do next. If you are experiencing this exact situation, there are several options available to help you through this period.
1. Understand Your Finances
If your main income source has been cut, you must learn how to budget your money carefully. Hopefully you have some resources you can draw from such as a savings account or unemployment checks. Know exactly how much you have and begin to calculate how long you can live from what is there. Your funds will determine how aggressively you have to pursue a new venture. If you were living paycheck-to-paycheck before, you have to seriously hustle to find a new job immediately. For others, you have more time to decide what you will do in the future. Your attitude towards saving when you are in employment is a large factor that can cushion you if you lose a long-term job.
2. Be Proactive
If you’ve been laid off, there is nothing you can do about it now. Even if you did nothing wrong to lose your job, you still can’t change what happened. You must continue to move forward with high hopes. Each day, you must plan out a course of action. Perhaps you can contact old employers to see if they have new positions available, or see if a friend has a job offer on the table. You can even head online to LinkedIn or other social media accounts to put yourself out there. You can decide which path you take; however, you must be doing something every day to better your future. One suggestion is to plan out your goals for the next day each night before you go to sleep so that you have a clear plan of attack.
3. Think Creatively
Most people who are looking for a new job immediately turn to the newspaper or Internet to find jobs available. While this isn’t necessarily a bad thing, it’s just a source of high competition. If you have some time before money runs out, it can be an excellent opportunity to explore all of your options. For example, building a business online is a new option for many. With little capital investment, you can acquire new customers almost instantly. Set aside some time to search for opportunities. There are many books available to help you sort through new options. You can also network yourself through social media. Get in contact with everyone ÛÒ even people you find online. This gives you the best support system to work with in the future.
4. Work Hard and Stay Positive
Finding another job is no easy task. As previously mentioned, you have to be doing something every single day. Hopefully you’ll get lucky early on and score a new job that you like. But for most people, this process could take weeks or even months. You can’t give up when your first attempts prove to be unsuccessful. Frustration, anger, and resentment are all common emotions after losing your job. You must not let these overwhelm you and stop you from persevering. Remain calm and optimistic the entire time and good things will come your way.
5. Decide What Job You Really Want
If you absolutely hated your job as a Sales Manager, or you resented taking phone calls all day, try to look for something you will enjoy in the future. Losing a job can place you in “panic” mode, causing you to take any job that comes your way. However, it is best to take some time to consider if this new job will be right for you. You don’t want to spend most of your time in a terrible environment. When applying for jobs, do a brief overview of the job description and decide if it’s right for you before you submit your application. This will save you from bitterness in the future.
In the end, it is important to consider all your options when you lose your job. Remaining calm and being proactive are just some of the ways to handle the situation. However, you must also be persistent and optimistic when it comes to looking for another job because it may take a while.
