10+ Important Things To Do When You Lose Your Job [+ 10-Step Plan For Your Day]
Did you just lose your job unexpectedly? It can be really tough, especially if your company is reorganizing or shutting down. It shakes up your life a lot. Suddenly, you’re not sure how you’ll manage without a steady income, and that can make you feel pretty stressed.
Even though it’s a hard situation, it’s important to deal with your feelings and move forward as soon as you can. Take a little time to feel sad about losing your job, and then start looking ahead. Don’t worry; we’re here to support you and guide you in the right direction. You’ve got what it takes!
Things To Do When You Lose Your Job and Have No Money
When you lose your job and money is tight, it might seem like a tough situation. But hey, it could also be a chance to explore a new career! Meanwhile, you need some cash to keep things going. Here’s what you can do to get the financial help you need and bounce back into work:
Apply For Unemployment
If you’re eligible, you can get unemployment benefits. Don’t hesitate; apply for them right away. Check out USA.gov to learn how to apply for benefits or temporary assistance. It’s your right, so don’t be shy or feel embarrassed.
Look Into Your Insurance
Your insurance might cover income protection, or you could use your old job’s health insurance for a bit after you’ve left. Talk to your manager or HR about it. Dig into the details because you might need a new policy to cover you while you’re job hunting.
Check Your Retirement And 401k
Find out what happens to your retirement savings and 401k. Talk to a financial advisor and your HR team to avoid getting hit with big taxes and penalties. You might think about moving your 401k to an individual retirement account (IRA). But before you do anything, do some serious research on it.
Get What’s Owed To You
After losing your job, see if you’re owed any leftover sick days, vacation days, or overtime pay. Check if you have stocks, shares, or any other money coming your way. Politely make sure you get every last dollar you’re owed before moving on.
Make a New Budget
Once those unemployment checks start coming in, you’ll have less money to work with. Since finding a new job might take a while, cut back on spending where you can.
Focus on essentials like food, shelter, and any medications. It’s going to be a challenge, but remember it’s temporary. If your partner is still working, you might even think about refinancing your mortgage if you own your home.
What To Do Next When You Lost Your Job
Face Your Feelings, Then Look Forward
Right after losing your job, a rollercoaster of emotions might hit you—panic about the missing paycheck, excitement for a life without a fixed routine, anger over the long hours invested in your old job, and more.
It’s important to know that feeling this way is totally okay. But here’s the honest truth you need to hear: acknowledge those emotions and then shift your focus to what’s ahead.
In my own experiences with job losses, I wasn’t alone. Many colleagues got let go at the same time, creating a sort of support group. We shared our struggles, kept each other motivated, and exchanged job leads.
If you’re facing this challenge solo, consider joining a group or talking to a professional. It can bring comfort and encouragement and help you tackle those negative feelings head-on. Remember, acknowledging your emotions is the first step, but moving forward is where your power lies.
Invest in Yourself
It might seem a bit strange to spend money when you’re not earning much, but think of it as the saying goes, “You’ve got to spend money to make money.”
If taking a class or two can make you more attractive to employers and fits your budget, go for it. I took a couple of writing workshops during my downtime, and they not only boosted my confidence but also gave me a positive way to spend my time. Plus, it gave me a reason to ditch the pajamas and look presentable again.
If your resume needs a polish or you could use the advice of a career coach, see it as an investment in your future success. Once you’ve secured an interview, treat yourself to a new outfit, and enjoy the confidence it brings. Remember, investing in yourself pays off in the long run.
Update Your Resume
Your resume might need a refresh, especially if it’s been a while.
This way, you’ll be all set to apply for jobs as soon as they pop up. Remember to customize your resume for each specific job you go for.
Craft Your Story
While you might wish to move on from your job loss, chances are it will be a topic in a future interview.
Create an honest yet professional story and practice it regularly.
Whenever I brought up my past employer’s restructuring in interviews, it was received with understanding. I then explained how my skills easily transition and how excited I am to be considered for this new role.
Check Your Social Media
Tidy up your personal pages, or better yet, adjust your privacy settings so future employers can’t snoop into your personal life (or see your complaints about old jobs!).
On the flip side, if a strong social media presence matters in your field, start sharing great content to make a positive impression. Being active on your updated LinkedIn account is a smart move, too, making it easy for employers to find you and for you to apply for jobs directly.
Start Your Stay-At-Home Jobs Now
There are a lot of freelance jobs out there with no actual experience. Whatever your previous job is, you can always look for suitable jobs for your skills and expertise.
Simple Plan For Your Day
Here’s a simple 10-step plan for your day to stay on track:
- Set a morning routine:
Wake up at the same time every day, get ready, and treat job hunting like it’s your job. - Connect with your network:
Reach out to friends, acquaintances, and old colleagues. Networking can open doors. - Use LinkedIn:
Connect with hiring managers, recruiters, and business owners through LinkedIn. - Check job listings:
Keep an eye on job sites like Indeed, Monster, and Glassdoor. Get their apps for job alerts. - Stay healthy:
Exercise and eat well to take care of your physical and mental health. - Watch your intake:
Cut back on alcohol, caffeine, and sugar. Avoid excessive TV and focus on getting good sleep. - Socialize regularly:
Schedule virtual or in-person meetups with a friend. Don’t isolate yourself. - Stay motivated:
Listen to motivational podcasts or read articles related to your industry. - Celebrate small wins:
Focus on what you accomplish daily rather than dwelling on unanswered job applications. - Check job leads:
Regularly look at the list of Companies Now Hiring.
Stay Positive
Keep your spirits up and stay focused on your goals during this challenging time. Remember, you’re not alone, and it might be helpful to join or create a support group with others facing the same situation. Together, you can encourage each other, share tips, practice interview skills, and share job leads.
Be prepared for the job search to take time, and it might be a bit slow. Use this period to your advantage by taking free online training to learn new skills. Watch YouTube videos on creating the perfect elevator pitch and plan out a couple of interview outfits.
If you start feeling down, don’t hesitate to ask for help. It’s okay to let your friends and family know you’re struggling and share what would make things better. Whether it’s someone to watch the kids, drop off a meal, give you a ride to an interview, lend an outfit, read your cover letters, or provide a reference – let them know. Even having someone to talk to about the challenges of job hunting can make a big difference. They can only help if they know you need it. Now, get back out there into the career arena!
