Nothing can be as scary as this! But there are thousands of people who go through this situation in life. The best part is that in spite of such a situation, it is possible to bounce back and start afresh. What To Do When You Lose Your Job and You Have No Money – we are here to explore all practical solutions!
First, Take a Breath and Acknowledge:
Accept that you have lost your job. Panic and grief is not going to help. Your paycheck has stopped, your hard work did not get recognition, your efforts went down the drain – but it can’t be changed now! That’s the fact. So, take and breath and acknowledge. Once you are able to acknowledge this, you can make your next move.
Plan Your Budget and Finances:
Check your savings and money. After working hard so many years, you definitely will have a contingency amount.
If not, you can think about small loans or even selling of some assets you don’t need.
No, don’t feel bad if you need to sell something. Remember it’s a temporary arrangement and whatever you are doing is to come out of the crisis.
So, it’s not the time to be emotional, but to be practical.
Must Read: How to save money for retirement in your 20s
Reduce Your Expenses:
- Cancel memberships/Subscriptions
- Reduce your food orders ( they tend to be expensive)
- Try to save on your bills if possible.
- Postpone your trips (Read: How to travel with a toddler)
- Postpone the parties or events that you might have planned.
Read: Tips to save money with low income
Tell Everyone:
Losing a job is distressing and many people feel embarrassed to even talk about it. No-you shouldn’t be. Instead, tell as many people as you can. Let people know you are looking for a job.
So, if anyone comes across any vacancy that might be suitable for you, they will inform you.
Update Your Resume:
- Prepare a fresh resume professionally.
- Update it well ( experience, skills, training, achievements)
- Post it on Job portals.
- Send it to HR ( You can search online for vacancies or find companies that might hire in the future and drop your forced application.
Update Your Social Media Profiles:
These days people are quite active on social media. Keeping your status updated on social media will help you find jobs. Mention that you are looking for a job and if anyone has any leads or information, you will be happy to know.
As you apply for jobs, why not try to earn money online or doing things that require little investment.
Read: How to add money as a social media influencer
Freelance Services:
If you have skills in writing, graphic design, web development, social media management, or any other area, you can offer your services as a freelancer.
There are many trustworthy platforms like Upwork, Fiverr, and Freelancer allow you to create a profile and offer your skills to potential clients. For this, you will need a computer, internet connection, and your expertise.
So, until you get your next job, you can make an effort to earn money online from home by offering freelance services.
Read: 6 Lucrative work from home jobs in India
Dropshipping:
This is a new concept through which several people are earning a lot of money.
With dropshipping, you can sell products to customers without holding any inventory.
You are actually like a middleman between the supplier and the customer.
As the customer places an order, the product is directly shipped from the supplier to the customer. Platforms like Shopify and WooCommerce make it easy to set up an online store without significant upfront costs.
Tutoring or Online Courses:
If you have knowledge in a particular subject or skill, you can offer tutoring services or create online courses.
You can conduct tutoring sessions online via video calls or use platforms like Teachable, Udemy, or Coursera to create and sell online courses.
You’ll need a computer, internet access, and possibly a camera and microphone for online communication.
So, you know there are several things you can do. But, it’s important to be positive and stay calm.
Now, is this even possible?
Yes, it is because staying positive and calm is going to help you.
Staying positive during unemployment can be challenging, but maintaining a positive mindset is crucial for your well-being and effective job searching. Here are some strategies to help you stay positive during this time:
Practice Self-Compassion:
Understand that losing a job is not a reflection of your worth as a person. Be kind to yourself and recognize that setbacks are a part of life.
Treat yourself with the same kindness you would offer to a friend in a similar situation. It tends to get overwhelming at times, but remember that there are many things you cannot control.
Focus on What You Can Control:
So, think about everything that you can control.
Concentrate on aspects of your job search that you can control, such as updating your resume, improving your skills, and networking. This sense of agency can help you feel more in control of your situation.
Set Realistic Goals:
We all set goals for ourselves. If you are unemployed, you have to set milestones and work towards achieving them, even though they might be small steps.
Establish achievable short-term and long-term goals for your job search. Celebrate small victories along the way, whether it’s sending out resumes, securing an informational interview, or acquiring a new skill.
Must Read: How to achieve your financial goals
Maintain a Routine:
You cannot afford to lose discipline from life.
Create a daily routine that includes job-search activities, self-care, and personal interests. Having structure in your day can provide a sense of normalcy and purpose.
Stay Connected with Others:
Don’t stay disconnected. You need to talk to people.
Losing a job these days has become quite common and everyone has faced it.
Share your thoughts and feelings with friends, family, or a support network. Social connections are essential during challenging times, and talking about your situation can provide emotional support and new perspectives.
Explore New Opportunities:
Consider the possibility of exploring new career paths or industries. This may open up unexpected opportunities and help you discover a different path that aligns with your skills and interests.
Celebrate Small Wins:
Acknowledge and celebrate any progress you make in your job search, even if it’s a small achievement. Recognizing your efforts can boost your confidence and motivation.
Focus on Personal Growth:
Use this time to invest in personal development. Whether it’s acquiring new skills, taking online courses, or pursuing hobbies, personal growth can contribute to a positive mindset and make you more marketable to employers.
Practice Gratitude:
Regularly reflect on the positive aspects of your life, such as your health, relationships, and skills. Cultivating a sense of gratitude can shift your focus from what you lack to what you have.
Seek Professional Help if Needed:
If feelings of anxiety or depression persist, consider seeking professional assistance. Therapists or counselors can provide support and coping strategies to navigate the challenges of unemployment.
Remember, staying positive during unemployment is a gradual process, and it’s okay to have moments of frustration. By adopting a proactive mindset and incorporating these strategies into your daily life, you can better cope with the challenges and move forward with optimism.
