Have you ever experienced a job loss?
Losing your job is a traumatic experience.
You lose your income and benefits, sense of security and identity in employment at a time. You can have friends at work that you've seen every day for years. The next morning you are laid off, everything is changed
It is important to take steps to help ensure your financial survival -. As soon as possible
Here's how to start your -Step 5. Plan to survive a job loss:
Step 1. Find out what you have to work with
go to the website of your employment agency of the state, and to estimate your unemployment benefits (or go to the office of employment status).
Add your assets, such as checks and brokerage accounts. Make another list with your other income, such as salary from your spouse and your expenses.
Step 2. Estimate your taxes for the year.
When working only part of a year, but you had tax withheld as if you work all year, you may have been too successful.
you might even be smart to have your spouse change her refusal to work so your spouse becomes more take -home pay.
If you need to have more successful, request that the income tax withheld on your unemployment check.
Step 3. make a basic budget.
This is a budget that shows the absolute minimum that must be for you to stay financially afloat.
you can not have to live on this basic budget, which will be no provisions for lattes, movies, or maybe even the cable, but it is liberating to know how little you can live if you must.
If it looks like you can get by on unemployment for a while, consider drastic measures.
Sell the car payment, switch to a lower portion of the cost of living or with relatives and cancel the subscription or magazine and online membership gym. (Often, they'll let you out of a contract or suspend it if you are unemployed.)
Contact your mortgage lender and ask about the austerity measures if necessary.
Step 4. Find the job.
The work may not always work, though it may be. Do not limit yourself to a narrow field or geographical location, to work as an employee or a job that looks like the one you just left.
Consider using your talents, at least while you look for something in your primary domain. (If you do not have other talents, now is a great time to develop some. Everyone should have at least two ways in which they could earn a living if they had to.)
Do not neglect temporary or part-time work. It can put you in the door to a "real" job.
Step 5. Stay busy.
Get up every morning and get dressed. Instead of dwelling on bitterness, try to see unemployment as an opportunity for change.
to volunteer work on your resume, take classes. The more people you meet and stay in touch with, and the more current you keep your skills, the better your chances of getting back to work soon.
If you had the choice, would you like to work for a large company, a small business, or for yourself
photo credit: Leandro Pérez photopin via cc
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