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So you lost your job too. Well, guess what? It's not the end of the world.
It might seem like it at first but it can often be a catalyst to help put you on the path toward something better. I am not saying it's not tough. Of course it is. So much of our self-esteem is tied to what we do for a living. So much of our daily life is spent working that it's hard to think about just what we'll do without that routine. And if you're like me, you're a little embarrassed that you don't have a job to talk about because part of how you've defined yourself has been through what you do. How many times have you met someone new and within the first five minutes they've asked what you do for a living? Well, it's going to keep happening. And unless you can come up with some good background to go with an answer like "I'm an astronaut and I am training for the next space shuttle mission", you might want to consider coming to terms with explaining that you lost your job and are looking for a new opportunity. It's tough at first, but remember—as my mother says, this too shall pass.
Keep your head up, smile, think good thoughts - you will get through this.
I thought I would jot down some of the things that helped me during the last few months of being unemployed. I wanted to share some simple things you can do to make things easier on yourself during this tough time.
First Priority - Budget/Spending Analysis
The first thing you need to do is get a solid understanding of where you are financially and how it will affect your finances in the near future. Taking a 60-75% pay cut and switching from your salary to unemployment benefits is a tough pill to swallow. But, it can be done. Just be prepared to make some changes. If you're like me and you keep track of all your spending on the computer in a program like Quicken, that's a great start. Start reviewing all your fixed expenses and all your discretionary spending and see how your monthly spending will be affected by a cut in salary. If you have a certain amount of money stashed for emergencies, you'll get a good idea of how long that will last you. In addition, you'll want to be disciplined about what you can cut out of your budget. For me that was dining out, other entertainment expenses, pedicures, expensive coffee (okay I cut back but I didn't eliminate it) and fun weekend trips with my friends. I also put my gym membership on hold for a few months. Most fitness clubs will let you do this short-term if your account is in good standing. The weather was getting nice enough for running, biking and rollerblading outdoors so I immediately opted to lose the $82/month expense from my budget.
Ways to save money or earn cash:
- You have time to search out deals so do it. Clip coupons, shop the sale racks, hit the discount stores.
- Ease up on the luxuries. Iron your own clothes instead of taking them to the cleaners. Cut back on the $4 coffees and lunches out. You're not working—people will understand if you opt out of lunches and dinners out. However, it's nice to network with people who offer to meet for coffee or lunch because sometimes—they buy.
- Clean your closets and head to a consignment shop with unneeded items or have a yard sale. Use your extra free time to get organized and in the process, you'll likely find there are some things you don't need. Or, there's always Ebay.
- Babysit! I know for some people this is easier than for others but let me tell you, some weeks it was my babysitting money that made it possible for me to still have a social life. I have lots of friends that have kids and sometimes the fact that I am not working has meant I can be available to help them when they've been in a bind.
- Pick up a fun part-time gig. Bartend, work in a restaurant or work in your favorite clothing or home decor store. You'll probably get a nice discount and you'll have the chance to interact with people a few hours a week. But remember, you'll need to claim your earnings and it will affect your unemployment amount.
Get health insurance
If you've been laid off, you've got the option to continue your health benefits through COBRA. If you haven't yet had time to research other health insurance options, keep the COBRA until you have. Yes it's expensive, but it's better than paying full price in an emergency room for things like CT Scans and MRIs.
While unemployed I've been hit in the head with a softball and had a concussion, got rear ended by a crazy driver on the highway and had a horrible allergic reaction to a bee sting. I ended up being fine but it was nice to know I had medical coverage to assure that I was fine and could get the care I needed. There are many ways to get short-term major medical coverage or full-coverage for you or your family. Don't risk not having it. Your luck is down as it is and take it from me, bad things happen to good people.
Don't ditch your time management and organizational skills
Searching for a job is going to require you to be as efficient, task-focused and goal-oriented as your old job did so don't think it's time to take a break. When you aren't working it's too easy to form bad time-management habits such as sleeping late or staying up too late on weeknights because you don't have to get up early. But the best thing you can do is to keep a solid routine. Here are some ideas.
- Get up early. Even if it's not as early as if you were working, there's no reason you shouldn't be up and at 'em by the time the rest of the world is commuting.
- Every night, make a list of tasks you want to accomplish the next day. Even if it's just some networking phone calls or a list of emails to compose. It will help you keep on track if you have a daily plan.
- Do something for yourself to give yourself a break every day. Get outside—walk, run or bike. Relax at the library or a bookstore. Meditate outside or do yoga on the deck. Looking for a job is stressful, give yourself an hour to relax and regroup every day.
- Try to fill at least three days of the week with networking meetings and interviews, use one day for web research and phone calls and leave one day open in case things need to be rescheduled or in case you want to have some down time.
- If you have the space, set up an organized home office where everything you need is right at your fingertips. Or, transform a portion of your kitchen into a makeshift office. I'm sure you stole a few office supplies when you got canned so at least you've got Post-its and note pads. Keep a computer, Palm or hard copy calendar with you at all times for when people want to book time with you.
Network with everyone you've so much as blinked at
I'm serious. Make a list of friends, family, neighbors, former colleagues, former classmates and even friends of friends, family of friends and neighbors of friends. Don't underestimate the power of your network. Your grandpa's golf buddy's nephew just may be a VP at the company you're trying to secure an interview with and your mechanic just might be working on the car of the CEO of your dream company. Speak up. Meet people. Carry your resume with you when you go to places where you'll be interacting with a lot of people. You'd be surprised where job leads and referrals can come from—at cocktail parties or in line at the gas station. Don't be shy—you need a job.
Get other contacts from people who interview you
When you have interviews, ask the person interviewing you if they know anyone else in their network that it might make sense for you to meet. Usually people are great about this because they would want that good karma back if they were in your situation. Be gracious when people help you and always drop a note thanking them for the connection and letting them know that you met with their friend or contact.
Help others who are in your situation
While you are looking for a job you will more than likely come across opportunities and contacts for people in your network, friends and family. You'll have interviews for which you realize you're not a good fit, but you know someone who is. Share the info, spread the love. If you can help a friend get a job or make a new connection while you're out hunting for one, that's great. What goes around comes around.
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