What to do if you suddenly lose your job?
Know the realistic things to do
There is uncertainty at every stage of life. Among them, a job is an important chapter, which serves as the financial foundation of many people’s lives. But what if that job suddenly disappears?
What should be done in such a situation, how to handle the situation mentally and financially — that is the main topic of this discussion.
First of all, you need to understand that losing a job does not mean failure. It is a reality of life. Currently, the job market around the world is changing, many qualified people are suddenly losing their jobs due to automation, recession, company restructuring, etc. So it is not just a personal failure, but should be seen as part of the change. This mindset will help you take the next step.
The first thing you should think about when you lose your job is your financial situation. It is important to analyze whether you have savings to cover emergency expenses. Make a list of your monthly expenses — rent, utility bills, food, medicine, children’s education, etc. Then calculate how many months your savings can cover these expenses. If you have already created an emergency fund, then you can be a little more comfortable. But if you haven’t, then you need to save money by reducing your expenses right now.
It must be remembered that you cannot make a panic decision at this time. Rather, you should slowly and carefully arrange a plan. First of all, start looking for a new job based on your current skills and experience. Update your CV and professionally decorate your LinkedIn profile. You can tell your former colleagues, seniors, or acquaintances that you are looking for a new opportunity. Many times, good job opportunities can be found through references.
You can use the time during the job search to develop your skills. Currently, new skills can be learned from many online platforms such as Coursera, Udemy, and edX. etc. If you are interested in technology, digital marketing, content creation, data analysis, or project management, then training in that field at this time will help you get a good job in the future.
At the same time, you can also think about freelance work. Fiverr, Upwork, Freelancer.com — there is a lot of demand for work on these platforms. If you know something about design, writing, web development, social media management, etc., then you can get work from home using these mediums. Although the income may be low at the beginning, over time, you can gain experience and good ratings, which can become permanent in the future.
If you live in a country where there is an opportunity to get government assistance or unemployment benefits, then take advantage of that opportunity. Many times, government projects provide training, allowances, or temporary job opportunities. Keep an eye on these things regularly.
Your mental health is also important during this time. Depression, anxiety, insecurity — all of these can work together, so talk to your family, share with friends. If necessary, consider taking help from a psychiatrist. It is easier to make the right decisions from a good mental position.
Sometimes, leaving a job opens new doors in life. You may have always wanted to start something new — your own business, a YouTube channel, a blog, or something else. This time can be an opportunity to work on those dreams. Yes, there are risks, but if you plan ahead, it is also possible to create an alternative income path to your job.
However, you must make decisions with reality in mind. It is not possible to do everything at once. So, first ensure financial security, then gradually walk on the path to fulfilling your dreams.
Finally, it must be said that losing a job can be a disaster, but how you view it is the most important thing. If you do not think of it as an “end”, but as an opportunity for a “new beginning”, then this time can become a great inspirational story for you.
The control of your life is in your hands. Either you will give in to despair, or you will turn around and prove your capabilities. Which path will you choose?