A job loss can be a devasting blow, not only financially, but emotionally too. Many people slump into a deep depression after losing their jobs because the event has eroded their self-esteem.
Even when losing their position had nothing to do with them, they remain affected by it, wondering what they could or should have done better to have kept their job. Mass unemployment in the coronavirus pandemic’s wake has many people facing an uncertain future.
What can you do to sustain yourself after losing your job?
Get your house in order
First and foremost, you need a picture of what your financial future looks like now that you are unemployed. Apply for unemployment benefits to know what your potential income is while you look for new work. Manage your spending to make those benefits stretch as far as possible. This means sticking to a strict budget and curbing all unnecessary expenditures.
This is an ideal time to dip into an emergency fund if you are fortunate enough to have one. If not, do not fall into the trap of using credit cards to maintain your current standard of living or cashing out your retirement savings.
Look at your options
The job market is tight right now because of how many people became unemployed due to COVID-19. Therefore, your search might be a longer one that you would hope. It might be time to do some thinking outside the box and looking at other potential revenue streams.
With the right amount of planning, you could be better served by going into business as an entrepreneur. These days, you do not need to invest a fortune to start a venture, says Geoff Kulesa of Wunderdog.com. You might be able to offer your skills and expertise on a part-time freelance basis to several companies instead of getting one full-time job.
Losing your job might be the best thing that could ever have happened to you if your new enterprise succeeds. Do not sell yourself short, either. Who is to say that you cannot be the next overnight entrepreneurial sensation?
Do not pour from an empty jug
Instead of spending every waking moment looking for a job, prioritize self-care. To succeed in any job interview, you need to be well-rested, relaxed, and confident.
When you do not look after yourself, these characteristics tend to fall by the wayside, and you come across as exhausted, beaten down, and lacking in enthusiasm. This is hardly likely to endear you to a potential employer.
Eat a healthy diet, follow an exercise program, and do things you did not have time for when you were working, such as working in your garden or pursuing a hobby.
This could be the perfect time to expand your horizons and take an online course to upgrade your qualifications and learn something completely new. Remain intentional about caring for yourself in whatever you do.
Choose to remain positive
It is easy to descend into a pity party and wallow in your misery after losing your job. However, it serves no purpose and prolongs your unemployment. After the initial shock has worn off, concentrate on being mindfully optimistic about the future.
Surround yourself with people who are supportive and determined to see you succeed. Their energy rubs off on you. By keeping your spirits high, you provide comfort to others affected by your job loss, such as a partner or children, who may be feeling a little insecure. Show them through your actions that you believe in yourself and that this is only a temporary setback.