These Tips Will Help You Survive After A Job Loss

Nobody hopes to lose their job.

But sometimes, things happen and there is nothing you can do. To keep and succeed at your job, you must be doing many things right. And even at that, bad economy and mounting company debt may force your company to fire you. So, whether you’re slacking off or are fired for any reason, here are some tips to help you survive the period before you get another job:

1. Try to be optimistic and hopeful

The worst thing about losing your job is the pessimism and hopelessness that sets in. Worrying about what you’re gonna do isn’t going to help. A concrete plan will. So try to stay as hopeful as possible while making a good plan.

 

2. Revise your monthly budget

Your monthly spending is gonna change. You will have to cut down on unnecessary expenses as money isn’t coming in with the frequency it did before.

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3. Update your CV and start the job hunt

You can’t afford to let the feeling of inadequacy haunt and paralyse you from taking action. Your previous job provided a wealth of experience and skills that you can leverage in your next job. So, take the time to update your CV and start sending out those applications.

 

4. Spend your severance package carefully

Most times, you will get a severance package when you’re fired. You have to make sure this lasts as long as possible. Don’t start wasting money or spending unnecessarily.

 

5. Avoid borrowing as much as possible

Borrowing when you don’t have the means to pay back will be digging yourself into a deeper hole. The reason why most professionals are advised to have an emergency fund is so that should you lose your job, you would readily have another source of money while you get on your feet. So avoid debt because your debtors can only understand for so long.

6. Tap into your network

People get jobs via word of mouth and recommendations. While it may make you feel less than your mates and insecure to talk about your job loss, how will your friends and people in your network recommend you for jobs when they still think you are employed?

 

7. Consider part-time and jobs in other fields

It may seem beneath you but consider part time jobs that will bring in some money while you job hunt for something better. Also, consider jobs that are in other fields and make the switch when the opportunity comes.