“Those who fail to plan…
Plan to fail…”
I’ve always believed that people should experience two things: a job loss, and owning an old Volkswagen Beetle. The former because it gives one a chance to examine career choices and change if desired. Why the Bug? Owning an old car with no air conditioning, no power anything, and able to use soup cans as oil filters provides a sense of the simple things in life.
Back to the layoff – though it can have certain positive aspects – it is a major disruption in life. How does one put food on the table, pay the bills, etc? Expenses must be managed and some income flow maintained. I’ve personally experienced this three times in 10 years, each time a little harder than the last. But below are some thoughts and tips for getting through the rough period:
– File for unemployment benefits. Assuming you weren’t fired for theft or some other felony, you are likely eligible.
– Let all your friends and business contacts know you are looking for a job.
– Cut extra – non-essential – expenses immediately. Stop the magazines, newspapers, health club memberships, and daily lattes.
– Make a lean budget and stick to it.
– Be on the lookout for any and all opportunities. Even temporary work can lead to a real job and proves to a potential employer that you are motivated.
– Work odd jobs to get some extra cash. This could be delivering pizzas, mowing lawns, temp work of any kind; all this helps your cash flow.
– Work on your entrepreneurial mindset talents and mindset.
– Consider COBRA health coverage offered by the previous employer or short-term health insurance. Nothing will drain savings faster than medical expenses.
Here are some links to other sites that may help you too:
By Dion Shaw
Dion Shaw is the founder and owner of Homepreneurs.
This blog excerpted in part from http://blog.simplyhired.com/2011/08/8-great-ways-to-stay-afloat-while-between-jobs.htm