Coping with Job Loss

If you’ve suffered the loss of your job, it’s heartening to discover there are specific actions you can take to cope and get back on your feet. Losing a job has the potential to bring you an exciting new beginning, and the right attitude can help you see yourself through this hardship.

Take action to minimize the damage:

  1. Openly discuss your job loss with members of your household. Since this affects all of you, make plans together and agree on implementing changes to lessen the impact.
  • Evaluate where you stand financially. Determine how much savings you can rely on and what bills are coming due around the corner.
  • Draw up a short-term financial plan to follow while you figure things out.
  • Your children should know that times are a little tougher and you need to cut back on spending. Reassure them that things will be okay, and use age-appropriate information to avoid stressing or scaring them.
  1. Check-in with your employer. Even though your job has ended, the final details are important to your financial future.
  • Be sure you understand your health insurance options, such as COBRA, so that you and your family can remain covered without any lapses during your search for a new job.
  • Ask if you can receive a severance package. If one is available, find out every detail, including beginning and ending dates for each of the benefits. Account for every dollar closely.
  1. Apply for unemployment benefits from your state. Most states offer online applications to help expedite the process and get you enrolled quickly. Keep in mind, unemployment benefits can bring in much-needed income while you are job hunting.
  2. Dust off your resume and add your most recent information. Consider posting your resume online – on LinkedIn, Craigslist, or other sites – and print plenty of copies to drop off or mail.
  3. Start your job search by looking at online job boards, forums, and classified ads. Many companies and organizations encourage applying for employment directly via their websites.
  4. Stay optimistic. Offer affirming thoughts to yourself and your family to keep spirits high. Your enthusiasm will impress prospective employers during interviews.
  5. See the opportunities. What initially appears to be negative can end up being a blessing in disguise. Losing your job is no exception. Perhaps you weren’t completely happy with your job but were hesitant to leave it. Now you have the chance to try something new.  Also, you can use a layoff as an opportunity to travel the world for a new job or work online.

You can find success in the face of adversity.  So, as long as you think positively and work hard, don’t be surprised if you come out of this entire experience better off than you were before!