What To Do When You Unexpectedly Lose Your Job

What To Do When You Unexpectedly Lose Your Job

Nothing ruins your sense of security like losing your source of income. It is one of the biggest stressors that people face! It’s OK to be upset, but it’s even more essential that you channel that energy into finding another job. If you aren’t sure what you should do now, this is what to do when you unexpectedly lose your job.

Make Finding a Job Your Current “Job”

Your priority at this time should be on finding work. Start by asking friends if they know of any opportunities because a referral goes a long way in this economy. Applying for jobs is a numbers game. If you only apply for one per day, you only have that many opportunities for getting callbacks.

Keep seeking out other career openings, even if you have an interview with another company. If this interview doesn’t work out, then you’ve lost that time.

Create tailored applications and cover letters for companies that you want to work with. However, it’s still beneficial to set up a profile on multiple job board websites and mass apply. Your next job doesn’t have to be the last; it’s better to have some income than nothing at all.

Apply for Unemployment

Depending on various factors, you may be eligible for unemployment income. This varies state-to-state, so call or visit your local unemployment office with more questions. Since this process can take a while, it’s important to immediately get the ball rolling. Unfortunately, you may get denied benefits. If you need to appeal an unemployment denial, consider hiring a lawyer to figure out your options.

Limit Your Discretionary Spending

Another important thing you need to do when you unexpectedly lose your job is to temporarily reduce your expenses. For example, if you have a habit of getting takeout too much, stop! Cooking at home is so much cheaper, especially when you can make meals with mostly rice, beans, and veggies. Similarly, see if you can pause or cancel any subscriptions or memberships you have. Even though these aren’t that much individually, they add up over time. Then, once you have income again, you don’t have to financially limit yourself so much.

Losing a job is scary, but almost all of us have been there! So it’s important not to get too sucked into the negative emotions and make strides forward in a positive direction.