With the market being volatile every now and then with recessions happening and economic breakdowns in most of the places, many people tend to lose their jobs.
Every time economy goes down, there are millions of jobs that are being cut down wherein finding the job again becomes difficult these days.
Along with that, the high level of competition in the market included, it becomes a serious challenge of finding a job again.
Even as a fresher in the market, finding a job after college is a trouble if in case, there is a student loan on to it. Hence, the challenge of survival becomes tougher when you can’t find a job.
Despite all the odds, a person can still manage through various troubles while job hunting. With some planning and positive attitude, one can survive the time duration before getting a job.
Initially, the steps to survive might seem difficult but it is helpful in the long run. It is also an added advantage to learn about budgeting and managing money which will later turn out to be helpful in long run.
14 Best Tips to Survive a Job Loss:
1. Cut short your expenditure:
The first step of surviving through a job crisis is to cut short your expenditure. List out all the things in the paper which is the unimportant things the money is spent on.
For example, shopping, going out to movies or eating in restaurants and much more such expenditures which are not necessary.
This extra money saved from these things will help you survive in the long run. Also, try to figure out the smaller expenditures which might be spent unnecessarily.
2. Prioritize your spending:
This is another important point to be worked on, see which are the important bills that are to be paid first and which can be managed and paid later. With the tight money in hand, one can keep the track of the money spent against money left.
Calculate how much of the money can last for you with minimal spending and manage accordingly. Then figure out the exact list of the bills and payments which cannot be slipped or avoided like paying up for rent, water and electricity bills, insurance or any other loans including student loans. Since these are important money to be spent and delay in making the payment might land up the person in trouble.
3. Sell the stuff which you do not need:
If one observes around in a room then they can find the things which are not of any use or of major requirement. List out all the things which are not necessary and these can be sold online or at a garage sale.
It can be anything from extra clothes, shoes, furniture or look for some antique, old products and toys to sell for some bucks. This money will come in handy for future. It is good to sell the most unimportant things first.
Ensure to google and research the right price at which these things are sold. Because selling underprices will be an added loss in a condition when money is of utmost requirement. Another best way to survive is to use your artistic side and make handcrafted products be sold on a various online marketplace, like Etsy.
4. Look for temporary jobs:
Even in the process of finding the job, another best way is to look for various temporary or part-time opportunities. The requirement for small time opportunities is good, since, it pays you the money even if in smaller amount and secondly, keeps you busy. The advantage for the temporary jobs is that it will keep your learning process on as every job teaches you something and will be an added experience in your resume.
Also, there are immense opportunities as a freelance worker, from graphic design, content writing or as a programmer. Find the one which interests you and works for it. The freelance industry is growing every day and with regular work with experience, it will gradually pay you more and more.
5. Find the possibility to reduce the rent:
Paying rent is one of the major expenditure in everyday life. Sorting this out is helpful in saving a huge amount of money to survive for the longer period of time. One of the best advice is to move in with your parents temporarily.
Parental support is the best way to survive, not only in saving rent but it also helps in boosting moral support as they are the only people who will love you in your difficult times too.
Another possibility is to rent your apartment or find a roommate as this will reduce the rent of your place almost by half. But before renting the place ensure and think through the plan and do take some time to find a good roommate. Because an unfavorable roommate might land you in the trouble.
6. Apply for financial assistance:
For many applying for unemployment, financial assistance seems quite embarrassing. But it is for the best to go for this option as soon as you are out of the job. Taking advantage of government programs for unemployed is nothing to be ashamed of, due to various circumstances these things can happen, hence it better to apply soon since the approval process will take time.
These programs are for a set duration of the unemployment and it will be helpful in surviving through the difficult times. This aid can help you pay your essentials like groceries or rent which are an integral part of any living. This temporary support will keep helping you sustain and give you some time to find the job.
7. Cancel all the memberships and subscriptions:
The fancy subscriptions and memberships are the first one that should go off the list when out of the job. For example, gym membership, the cable connection or even paying up for additional plans for the mobile phone.
Find the alternatives of these expenditures, like instead of going to the gym one can try running or home exercises, these are equally efficient like regular gymming.
One can opt for a cheaper phone connection and offers to reduce the additional bill that is generated. On paying close attention to this, one can see that it reduces a lot of spending.
8. Manage your transportation system:
It is good to plan your travel accordingly even within the city. Avoid making multiple trips to the same place and plan accordingly in one go. Instead of using a car, try riding a cycle or opt for a public transport system for the longer route. Even walking to the shorter distance is also good and it is also an effective exercise.
If you own a vehicle ensure to keep it maintained by changing the oil regularly, as money spent on maintaining the vehicle is immense .But avoid using your car or bike too much or everywhere as this adds up the fuel expenditure.
9. Check your health insurance plan:
Ensure that you have a health insurance plan for self and family. Initially, it might seem to be an expenditure but in a long run, it will turn out to be money worth spent and saved.
Health concerns may rise for self or any family member at any given point of time and be paying up for the doctor’s fee and medical bills will be a higher amount of money spent.
Having a health insurance automatically reduces a major part of your expenditure since any health related concern is covered up by the insurance. Also, keep in mind to modify your health insurance plan as per the need, consult and find the correct information and see which plan will work best for you.
10. Keep looking for jobs:
Even in these harder times, the best thing is not to give up hope and keep applying for the jobs everyday. Take out your contact list and try connect with old friends, colleagues or bosses who can help you in finding the job.
Not landing up the job for a longer amount of time might be frustrating but applying for the work gives hope and creates a possibility to get the job.
Keep on sending emails, apply through various job portals online or offline. Connect to head hunters and ask them about the job as per the requirement, join job clubs and meet as many people as you can who can help you find the job.
11. Keep yourself busy:
While not having a job makes a person idle for a long time. It is good to shift all your energy to something or the other. Keep yourself busy, take a walk, read books, meet people or do some fun recreational activity. The sky is the limit which is to be explored. Try your hands to learn something new or pursue a hobby.
Finding a job can be stressful many times leading to anxiety and depression and the idle mind creates more and more space to think about it. Also, it is important to pay attention that during the process of job hunt the person requires being happy and relaxed. Hence, doing some small projects will keep the mind refreshed and the person will be learning something new.
12. Reach out to family and friends:
As already stated, finding the job sometimes turn out to be a time taking and a difficult process which can lead to anxiety and emotional depression. Therefore, the best way to keep yourself upbeat is to spend a good time with the family, bond with your parents, spouse, and children. Because family is the best support one can find in tough times and they are the one who will stand by the person in any situation.
Also, try to meet and reconnect with your friends and learn about them. In this busy and hectic world reconnecting with old friends is a refreshing and welcome change and one might never know what best possibilities it might lead to.
13. Work on your resume:
Sometimes the approach for the job search might need some change. For example, find out the possible reasons that are not leading successfully to a job. Work on your resume, update with newer and relevant information and remove the unwanted detail in the resume. Do some research on the resume and learn what are the best and effective changes that can be made.
Practice interviews and communication skills, sometimes a person lacks effective communication despite being talented which hampers in getting the job. Hence, it is good to do some practice before hand which will be helpful during the job interview. Learn to send the right email while applying for the job and see what will work the best.
14. Keep learning new things:
Another important thing is to keep learning and update yourself with the new developments happening in your industry. It is good to try your hands on few other different skills too, for example, digital marketing, blogging or social media marketing. As these will come handy to reach out to the best people in the industry and will also keep you engaged in the positive work.
Learn new relevant skill which can be an added advantage on your resume. There are various free tutorials available online, register on those and learn the best out of everything. Learning also keeps one engaged and provides immense knowledge. Enhance your skill each and every day and later these skills will work for the best.
The initial days to survive without the job might seem hard and difficult but with focused energy one can easily achieve the best. Rather than fretting over not having the job, it is good to take advantage and perceive it as the free time before landing in the job. This is the time when one can prepare themselves for the best and worst and learn newer things.
From money management, learning to handle stress and anxiety, managing time and benefitting from it. Various things can be learned during this time. Hence, use this time wisely and it will eventually land you up in the best of circumstances. Therefore, stay positive and do well.