Getting laid off can be devastating. When you suddenly have no income, what do you do? If you are facing this scary reality, you are likely feeling anxious and confused. Unemployment can take a toll on your finances and emotions.
There are things you can do to bounce back after a job loss. Follow these tips for recovering and getting back into the workforce.
1. Reduce your bills
You may not be able to afford all your monthly payments right now. Contact your internet, cable and phone providers and find out if there are any cheaper specials to reduce your bill. Consider eliminating certain features, such as extra channels or unlimited data. You might even consider getting rid of your cable altogether and relying on online streaming services. For your cell phone, you may be able to switch to a different provider with a cheaper monthly plan.
2. Look for part-time work
If you simply need to make ends meet, your best bet may be bringing in minimal income temporarily. Finding a full-time job could take a long time. Consider part-time positions and working odd jobs just to get some funds flowing into your wallet.
3. Network as much as possible
Tapping into your network is one of the best ways to recover from a job loss, according to a Forbes piece written by bestselling author Margie Warrell. Talk to people you already know and get their support. A lot of jobs are not even advertised, so you could find something suitable just by word-of-mouth. Use professional social sites to network online, too.
As you go through this difficult time, remember that recovery is possible. It may be hard now, but if you follow the right advice and take important steps, you can regain your financial footing. If you are swimming in debt from your job loss and have nowhere to turn, you may also consider filing for bankruptcy.