Losing your job can be a scary process, especially if you are responsible for supporting your family with your income. However, before you enter panic mode, it is essential to realize there are many ways you can recover your finances and support your loved ones.
If you have recently been made redundant, fired, or have been forced to leave work due to a medical complaint, read the following advice on what to do when you’ve lost your job.
File for Unemployment
If you have lost your job for a reason that wasn’t your fault, it might be a relief to learn you can file for unemployment – and you could still be eligible for unemployment benefits even if you were fired.
To receive your benefits sooner rather than later, it is often advisable to make an unemployment claim online. The insurance will provide a specific amount of monetary payments for a set period of time or until you secure a new job.
The chances are the unemployment amount will be lower than the paycheck you received from your job. To help your money go a little further, you should aim to make various financial cutbacks within the home. For example, you could:
- Downgrade your current cable package
- Cancel all memberships and subscriptions
- Browse the market for better rates and deals
- Use coupons or discount codes
Cold Email/Call Companies
In addition to applying to various job advertisements, you also shouldn’t be afraid to cold call or email companies near you. While a brand might not have plans to hire an extra employee, your resume could convince them that you could be a valuable, experienced member of the team, so they might invite you to an interview.
Make a Claim
Quitting your career due to a health issue is bound to be a daunting time in your life. Not only might you be struggling with various mental or physical challenges, but you also might be worried about your lack of income.
If you have developed a condition due to medical negligence, you must take action, as it could provide you with compensation to financially support both you and your family during this challenging period. However, it is crucial you do not delay, as there is a time limit for medical negligence claims.
To secure a new role at a faster rate, you should start networking online. For example, develop a presence on LinkedIn and reach out to people across your industry to establish a friendly, professional relationship, which could lead to you securing a new career.
It might also be helpful to reconnect with past colleagues or college friends, as they might be aware of a job opening in their industry that would suit your knowledge and experience.
Rather than grieving the loss of your job, proactively take steps to find a new position and increase your family’s financial security. The more action you take, the sooner you’ll be able to pay your bills without stress or worry.