lose your job

5 Essential Things to Do When You Lose Your Job

Losing your job is never easy. But, if you do these 5 essential things as soon as you lose your job, you’ll be able to bounce back quickly and put this time to good use.

1. Avoid Bitterness by Taking Personal Responsibility:

Blaming other people won’t do anything to help you find another job. No matter how justified your reasons are for blaming other people when you lose your job, it doesn’t reflect well on you in future interviews or even conversations with friends and family. Instead of focusing on the negative things that other people or the company did that led to your job loss, you can reflect, take notes, and learn from the experience. Reflect honestly on the role you had in your job loss, which may be as simple as not working for a similarly disorganized or toxic company in the future, and you’ll avoid that edge of bitterness that can really prevent you from moving forward.

2. Create a Preservation Budget:

Depending on the size of your emergency fund or how much money you have set aside to get you through this period without a job, you’ll have to make some adjustments to your budget to get through this time with less or no income coming in. The best thing to do is create a preservation budget, cutting down on things that qualify as wants instead of needs. This includes subscription services, entertainment, and possibly reducing the amount you spend on essentials like food too. This will help make sure that you can wait to accept a job you really want rather than just accepting any old job simply because you’re about to run out of money.

3. Adjust Your Health Insurance:

If you had health insurance through work, you have to options for adjustment once you lose your job. You can pay for COBRA, which is pricy but extends your health insurance for a short time while you search for a new job. Or you could apply through the healthcare marketplace. Even if it isn’t an open enrollment period, losing your job is a qualifying event that will allow you to obtain health insurance through your state’s healthcare marketplace.

4. Refresh Your Resume:

Does your resume accurately reflect all of the skills you currently have? Is it up to date with your latest projects and work accomplishments? The answer is probably no because we rarely refresh our resume as often as we should. Make sure you take some time to refresh your resume right now so you’re putting your best foot forward in the job search.

5. Use the Time as an Opportunity to Improve:

While looking for a job can sometimes feel like a full-time job of its own, chances are you’ll have a lot more spare time during this period than you’re used to. If you’ve been meaning to work out more often or learn a new skill, this is the perfect time to seize the moment and improve your habits and skills! Use this time as an opportunity instead of wasting it by spending all of your time worrying when you aren’t applying for jobs.

If you’ve lost your job, doing these 5 essential things will help you get back on the right track and use your time wisely. Each of these 5 steps will put you in the right mindset and on the right path to accepting a great new job.

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