In our adult life there are many fears we come across. First, midlife crisis, Second, Future of our children,Third,Our own health during the declining age Etc.
But, Current economic climate, recessions in various industry, Increasing number of younger people in workforce, constant technological development, outsources of work to cheaper market and many more factors like these have added one more fear in our life. The fear of losing a job.
Losing our job can be one of the most traumatic events we experience in our adult lives. It’s negative effects can be found in various aspects of our life. Like financial, mental, social and physical.
“The best way to appreciate your job is to imagine yourself without one.” -Oscar Wilde
A successful man continues to look for work after he has found a job – Unknown
FIRST OF ALL, FINANCIAL MOVES,
1. COLLECT ALL COMPENSATION DUE FROM EMPLOYER
Depending upon the terms & condition, nature of employer(Government or Private employer), Depending upon the nature of sector or industry you are eligible for various perks, benefits and compensation. So, after losing your job first of all collect all your compensation due from your employer. So, it will give you complete idea that how much money you have in your hand.
2.SECURE SOURCE OF INCOME
After losing a job, the first thing you need to do is, secure immediately any source of income. What I mean here is that, losing your job does not mean that you no longer have to pay your monthly bills. Whether you have job or not your rest of the life goes on, and maintaining that livelihood you need steady income. During this time do not expect to earn as much as you were earning during your job, but, whatever amount you earned gives you precious buffer time to find out suitable job.
3. TAKE OR MAKE FINANCIAL DECISIONS
Most practical way to minimize the impact of losing your job is to take positive financial steps to get the situation under control. Applying for unemployment benefits is one of the first things that you need to do, whether or not you will qualify for payments depends upon the rules and regulations or norms of your country.
4. MINIMIZE EXPENSES, MAXIMIZE INCOME
Now, you need to assess your financial condition properly. Evaluate your spending and keep close watch on your expenses, whenever, you found something which is waste of money immediately cut it, create a budget and stick to it. Contact all your creditors and explain your situation and ask for longer duration or easier payment condition.
5. MINIMIZE USAGE OF CREDIT CARDS
Credit card debt is somewhat more difficult to pay in compare of other debts, because it’s highest interest rates, service charges and late fees. So, unless and until you have steady source of income minimize the usage of it.
6. SEARCH FOR JOBS EVERYWHERE
Once you have supplement source of income, now be relaxed and start to search for job elsewhere or everywhere.
Use all the available tools for searching, first of all it is newspaper then magazines from your locality or other print medias, which publish advertisements regarding employment on regular basis.
Use placement or recruitment agencies wisely.
Use internet effectively, there are numerous Websites dedicated for this purpose only, post your resume on it.
In whichever industry or company you would like to work, go directly to company Websites and look for ‘employment’ or ‘Career’ button and apply directly.
7. BE CAREFUL ABOUT YOUR HEALTH
During this time be more careful about your health, because many people let them go when deals with negative emotions, so, be extra careful about your health, food and other health related matter.
8. USE THIS TIME IN MOST PRODUCTIVE MANNER
Use your free time in most productive manner and try to improve yourself which helps you to find new job. Instead of using your time in detrimental or time-consuming or time-wasting activities like gossiping or watching TV, Utilize it for your career enhancement like learn a new language, public speaking etc.which widen your job opportunities.
Volunteering in any chosen activities can boost up your self-esteem and mood. It helps you to maintain your sense of value and purpose.Apart from that it provides social support, career experience and lots of networking opportunities.
So, use your spare time as social time.
10. SPEND TIME WITH YOUR FAMILY & FRIENDS
Use this time to make your bonding strong with your family members, friends and other loved once to whom you intentionally or unintentionally ignored, avoided during the hectic days of jobs.
Consider it as a repaying debt which you had in past, so, now, you have surplus amount immediately start to repay it.
Remember that you are not the first or last person of the world who faced a job loss. Before you and after you there are many people have lost their jobs including some of the most successful people. Losing your job does not mean that as a person or as a individual you are worthless. Keep your self-esteem high, do not lose confidence on your skill and abilities, sooner or letter you will find the right opportunity as per your skill.
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