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Top tips following a job loss or redundancy

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Top tips following a job loss or redundancy

Losing a job or facing a redundancy is undoubtedly one of the greatest stresses facing many people in the current global economic situation. Though every person’s situation is unique below is a list of some tips on how to manage the situation and allowing you take the necessary steps to securing your future.

Firstly and very importantly stay calm and composed. Don’t over react and do not blame yourself as it will not help the situation. This will definitely help in allowing you to focus on getting a new job. Try to concentrate getting a new job than wasting time and energy on worrying about the cash side. So focus on the right things.

Start planning ahead by contacting recruitment agencies and checking the web for job opportunities. But make sure you allow yourself some time to recover and come to terms with the situation. It also gives you some free time to collect and recharge yourself.

With the job market being slow if the right job doesn’t come up consider taking up a temporary role. It makes no difference what the job is as long as there is remuneration at the end of the day. Try to reserve some time during the day to continue searching for the right job.

Take control of your finances. Whether one has already lost a job or facing the prospect of losing a job it is very important in these uncertain times to gain control of the finances. There are many ways in which one can take control of finances, the following few paragraphs focus on how to effectively manage your finances.

Add up all the essential bills, rent, utilities, food etc. Know exactly what you need to cover your basic costs. This will allow you to easily budget for the monthly essentials. However be very careful when using credit and credit cards. Make sure you are aware of the APR and that you will be able to make the repayment. Having a bad credit history may hurt may affect your ability to obtain finances for something else in future.

Prioritise your bills. Some bills are paid monthly, other have a longer line of credit. Use this to your advantage.

Cut out all unnecessary expenditure. Some examples of ways to do this are:

·         Walk rather than take the bus/car

·         Use Skype to Skype rather than your mobile phone

·         Re-visit where you are doing your grocery shopping and see if you can get the same at a cheaper store.

·         Substitute your shopping items to for the generic brand as it is the same product but in different packaging.

·         Inviting friends to your house rather than meet them in a café, or bar

·         Be strict with your spending and watch out for those impulsive buys.

As much as losing a job is stressful and emotionally challenging it is very important not take it personally. The job is redundant the most importantly you are not. Who knows it may also turn out as an opportunity for positive change and a chance to develop a challenging and rewarding career for the future.

If you are one of the unfortunate ones to lose a job loss and you are having difficulty dealing with it please seek help. There is plenty available and you should never face a situation like this alone.


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