Keeping Yourself Afloat After Losing Your Job

Losing a job is never a pleasant experience. Whether you are getting let go because of company budget cuts, phased out to make room for new talent, or getting the ax because of incompetency, there is always a period of worry about your future source of income. According to a CNN report, the recent loss of middle-income jobs that have made it harder than ever to get back to a standard of living that you are used to. The best way to bounce back after losing a job is to keep calm and make sure your priorities are being met.

Have Enough Saved Up

After losing a job it is important to keep enough saved up to pay your bills, hopefully you’ve made an emergency fund part of your financial planning goals. If you accumulate too much debt it will be hard to get money loaned to you later on in life. While it may not seem like a problem in the short run, you might have to get a new vehicle after yours breaks down, or you might be forced into a new living situation after a failed relationship. It is also important to stay out of debt because it’s becoming commonplace for employers to check your credit rating before making a hiring decision – a real catch-22.

Live Frugally

If you are used to shopping at a specialty grocery store for necessities, you are going to need to find another place to purchase food. While these stores might provide the natural organic products you think your body needs, it is usually an elaborate marketing trick. According to Mercola.com, many multi-billion dollar corporations own the organic labels found in these stores and use packaging to deceive consumers into thinking their products come from small farms. Purchasing “normal” groceries at the local chain supermarket is usually just as healthy as the specialty store.

Another innovative method in saving money is to trade in your SUV or gas-guzzler for a more fuel efficient vehicle. Many people are looking towards scooters and motorcycles for navigating urban areas. This is a viable option because fuel costs are cheaper and motorcycle insurance costs less than car insurance and covers the vehicle not the driver.

Get Creative

While you are unemployed, use the extra free time to your advantage. Set up a schedule during the day to make yourself more productive. For example, take an hour when you wake up to eat a healthy breakfast and watch the news without feeling rushed. Spend a specified amount of time after that looking through classifieds and websites for new career opportunities and networking. After your career search, turn to something you’ve always been interested in like writing, art, or photography. Searching for jobs all day can stress you out and make you less likely to conduct a quality search. Think of your search as a part-time endeavor instead of something you are fully committed to.

The best advice after losing a job is to just not freak out. There are a lot of other people in the same boat as you and sending yourself into a panic over it is not productive.

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