Unemployment brings an array of emotions for those who have been there and for those who are currently in that space. Let’s start with actionable items you can take now if you’re gainfully employed which will help if you find yourself in this situation. Contribute to an emergency fund. The Dave Ramsey model says to save $1,000 Your emergency fund should cover either one to six months of your gross pay or one to six months of all your bills. Yeah, that’s a lot, right? In the current job market, security isn’t guaranteed. This isn’t a meant to scare you into buying some type of insurance or product to prevent that because there isn’t any mechanism that prevents job loss but you can prepare. Be proactive. Save vigilantly.
Journal, keep track of jobs you’re applying to and feedback you’re getting form interviewers. Don’t blow their feedback off, especially if they take time to offer feedback.
Don’t feel bad using your emergency fund money if you’re fortunate enough to have some saved. That’s what it’s there for!
Tell people you are in the job market. Many of us have been there and are willing to help. When I opened up to my network they immediately started working to connect me with employers.
Research benefits for unemployment if you find yourself unemployed.
Spend time with friends and go out. It doesn’t mean you have to spend money but the social interaction is very important. Do not lock yourself in, that probably contributed to my depression.
Budget. Move to a fixed income and cut certain luxuries to save money. Instead of going to the movies, have some friends over. Made some homemade popcorn and snacks.
Volunteer at your local chamber of commerce. There is so much money flowing through those places. People hire people they like and trust. Get to know people from various industries. Show that you’re dependable, timely, focused, and can work well on a team. Heck, I would hire you or at least refer you to a friend.
Join industry related networks and be active. Perhaps you can find a sponsor who can cover your membership. You have to show up often and be consistent. This gives potential employers an opportunity to get to know you and first hand learn about your brand. Learn about your work ethic and if you’d be a good fit for their organization.
I have to thank Nicole my dearest. She introduced me to a the person that brought me out of what I call my early retirement. From that day I have never looked back. She said “anytime you’re looking down on someone it better be to help them up”. In the time I spent with National Sales Network of Atlanta Nicole got to know me and introduced me to people at CarMax, Cox Anaheim, and several financial advising firms. There is light at the end of the tunnel and this too shall come to pass.
For tips on how to navigate the financial hardships due to coronavirus check out: