What To Do if You Lose Your Job

by Shenron on October 8, 2009

We recently covered what you should do to prepare for a job loss. But what if that day has already come and you’re stuck in the dark without much more than a hope and a prayer that things will get better? Today I’m going to try and give you a fairly quick overview of what you should do if you lose or already have lost your job.

1. The first step in the entire process is to not give up. I know that sounds like one hell of a feat if you’re down and out with barely any income every month. Keep your head up high and know that things will get better soon enough no matter how bleak your job situation is at the moment.

Lose Job What To Do if You Lose Your Job

2. The next move is to figure out the essentials every month in your bill paying line. Depending on whether or not you filed to the state for unemployment money, your monthly income may vary. If you’re in a “good” situation you can manage to pay for most if not all of the critical monthly expenses such as rent, food, internet bills, car, etc. If you’re barely making enough to feed yourself and pay one or two other bills, it’s time to prioritize. Your first instinct would be to keep paying your mortgage so you have somewhere to live but in reality, your car should be the number 1 spot on your priority list. Without it, you can’t get another job. Obviously food takes priority over everything else, but apart from that, your car is first in line. As long as you have a car and some friends with a couch, you should be good for a while.

Note: Some people think they should keep paying other things like their mortgage and credit cards for fear of accruing bad credit and putting them in a bad position down the line. The fact of the matter is, if you’ve lost your job, drastic measures have to be taken. Focus on the important things now. You can build yourself back up at a later date.

Lose Job1 What To Do if You Lose Your Job

3. After you’ve got your life in order it’s time to start looking for a new job. Depending on how long you can hold out without cash, your decision here may vary. If you need cash ASAP, get something part time and easy. You may have been a top paid executive not too long ago, but now you’re just like everyone else and your skill sets aren’t important. Sometimes you just have to take what you can get until you can reestablish a name for yourself. Look for jobs in the paper if you’re looking for a quick fix or get in contact with people you know and see if they “know a guy who knows a guy” that has a job open. Exhaust all options before trying another route.

Losing your job isn’t something that can be turned around in a few short days. It may take weeks or months to find a suitable place of employment for yourself. When things are looking grim, just remember step 1 and if all goes well, you should be back on your feet, ready to work, in no time at all.

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