After the outburst of Covid-19 pandemic, getting jobless in a blink of eyes has become very common and was visible in almost all sectors of work. Many people lost their jobs and are still losing them. Hope it never happens but it would not be a matter of wonder if you or any of your family members face the same.
What you can do is keeping yourself prepared and if you have already lost you job and in an immediate need of money then get into action as soon as possible.
For now, “how to keep yourself prepared” will be saved as a matter of discussion for later and we will get ourselves going with what to do if you are jobless for now.
Here are a few suggestions which you can take in note, so without further delay ,let’s get started with those .
- Review your finances –
Reviewing you finances implies that you need to give a check rather look to whatever money you have for now and make a list of all those .
Next, review your budget. i.e. know how much you need to pay or spend each month for the essentials .
This would in turn give you a rough idea about how long you will last without a paycheck. It may not be a very big step but it would surely be of help.
You would obviously have saved up some emergency funds till the time you were working so ,that fund will help you cover the rents, mortgages, food and other essentials.
- Create a new budget and eat at home as much as possible –
People spend a large portion of their earning on food .So,if you lost your job then cutting expenses from there will save you a lot.
Just stop going out with your friends or family for eating and try not to even order food from outside .
Cook at home and eat. This will not only cut off your expenses a lot but will also provide you with health and save your medical expenses to some extent.
- Ask for deferring payments-
Many organizations try to work with you because they prefer late payments than nothing. Banks and other loan services are sometimes willing to defer payments or give you other options to help .All you need to do is ask for it.
- Cancel monthly subscriptions –
Cancel all the monthly subscriptions you were paying for until you find your next job. As you need to save all the money you can until then ,this could be a great option. If you find it difficult to go without Netflix and other subscribed services then consider using your parents’ or friends’ accounts temporarily .They would surely help you.
- Start your job search –
Update your resumes on job offering websites with the latest information on you so that you can open yourself to a wider range of opportunities.
Improve your connections and let each and every one of your acquaintances that you are in search of a job. You never know when and where an opportunity will pop up for you.
File for unemployment. Though the rules vary but most of the states provide unemployment benefits to lessen the negative impact that unemployment has on the economy.
Losing your job is surely a difficult situation to tackle but is surely not impossible. There are a plenty of resources available online and also mentioned above. The only thing you need to know is that opportunities are everywhere, you only need to work hard and grab those.