Even if you’ve been working with a company for a long time, there’s always the chance that you can lose your job. It’s not always because you’ve done something wrong, sometimes companies just hit hard times and they have to let people go. Whatever the reason, trying to support your family without that income is going to be a struggle, but it’s not impossible.
The key to surviving in that situation is doing all the right things straight away. If you waste time panicking, you’re just going to make the situation worse for yourself. There’s nothing you can do about it, you just have to accept it and take these steps to secure your financial position and find more work as quickly as possible.
This is a step that you need to be taking before you’ve lost your job. If you don’t have any savings to fall back on, that’s when you’ll find yourself in a very sticky situation. When you’re working you should be putting some money aside each month as a backup for a disaster like this. It doesn’t need to be a huge amount but whatever you can spare should go into savings. This is what you’re going to rely on to live while you’re out of work so the more you have, the longer you’ll have to find a new job before you run out of cash.
Remember to be careful with your savings though. Don’t just break it open and start spending wildly, otherwise, it’ll soon run out. Anything you don’t use can be put into your retirement fund or into a college fund for the kids so even if you’ve got a sizeable amount in savings, you should still work out a very tight budget and stick to it.
It’s drastic but in a lot of situations, people are offered the option of either relocating and keeping their job or being made redundant. You might decide that you absolutely don’t want to move away for some reason but if you can’t think of anything in particular that’s keeping your family there, a move could be good for all of you. Find somebody like Chess Moving that specialize in interstate moving and pack your stuff up. Heading across the country gives your whole family the chance for a fresh start and you don’t have to deal with the difficulty of being unemployed.
Treat Your Job Search Like Work
The biggest danger when you’re out of work is losing motivation. It’s so easy to end up sitting on the sofa all day and not applying for any jobs. The longer you’re out of work for, the worse it’ll get, which makes it harder to find jobs. The whole thing becomes a vicious cycle and all because you didn’t have a proper routine to keep you motivated. The way to stop that happening is to treat your job search like work. Set yourself hours every day and sit down with the computer and search for work during that time. You can split those hours up into different sections so, perhaps dedicate the morning to finding new job openings, and then after lunch work on filling out the applications. Giving yourself this structure will make it far easier to stay motivated when you’re looking for jobs.
If you want to make things a lot easier for yourself, spend some of your day writing a few different versions of your CV, tailored to different roles. Do the same with cover letters and then you can tweak these templates instead of filling out the entire application with fresh information every time.
Losing your job is scary, but if you react in the right way, it’s only temporary.