If you recently lost your job, it could be an emotional shock. Financial concerns on the short- and long-term horizon may result from a job loss.
Being fired is even worse than being laid off as both are painful and emotionally draining experiences. Even if you pledge to stay in touch, you’re out of a job, without a paycheck, and you’ll lose your connection to your coworkers because things won’t ever be the same again. It’s agonizing.
Experts say that you can reduce disruption and improve your chances of a happy next chapter by taking specific actions sooner rather than later.
1. If necessary, apply for federal or state unemployment compensation
If you lose your job through no fault of your own, you should be able to get unemployment benefits. Even if you were fired, you might still be qualified, depending on what happened.
2. Consider your health insurance alternatives
With the help of your manager or the human resources department, explore your options for continuing health insurance coverage, or look into purchasing a new policy to protect you while you’re unemployed.
3. Create a personal budget
Consider strategies to save money because your unemployment payment will be less than your paycheck. Because many states have reduced the amount of weeks they provide for unemployment benefits, it will also be significantly shorter.
4. Invest in your personal growth
Spending money when there isn’t much coming in may seem counterintuitive, but keep in mind the proverbial saying “It takes money to make money.”
If you can afford it and attending a few classes will increase your employability, do it. I frequently attended writing seminars during my free time, which raised my self-esteem and gave me a productive outlet. These gave me an excuse to change out of my pajamas and practice dressing appropriately once more.
5. Update your resume
