Steps to Take After You Lose Your Job

What to do if You Lose Your Job

By: Laurie Jerome-Pertilla

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Whether you’ve been fired or laid off, losing your job can create a crisis in your life. How you handle that crisis will determine how well and how quickly you get through it. Realize that you are still in control of your world, and that there are steps you can take to get back on your feet after you lose your job.
If you are unemployed, or about to lose your job, there are things you can do to help yourself and your family get through the temporary hardship you might be facing.

Avoid Panicking When You Lose Your Job

The prospect of dealing with unemployment and losing your means of livelihood can be frightening, especially if others depend on you. Try not to panic. Talk with someone you trust about your fears and negative thoughts. Choose a family member, friend, counselor or minister who will listen without condemning you or feeding your fears; then resolve to survive the situation. You may even come out of this in better shape than before. Change has a way of pushing us into something better, even though it might not seem like it at the time.

File for Unemployment Benefits

If you qualify for unemployment, waste no time in filing as soon as you lose your job. You may even be able to file online in some states.
During the application process, make sure you keep your appointments and supply all required documents so that your payments are not delayed. Needed documents vary, but generally you will need:

Your mailing address and phone number.
Driver’s license or other picture ID.
Social Security Number.
Employers’ Federal ID Number(s), address(es) and phone number (s). (usually for the last 2 years)
A pay stub.
Start and end dates of employment.

Our article "Unemployment Compensation: How to File and Collect." will tell you how to proceed in more detail.
If you will not be receiving unemployment benefits, and you have no cushion in the form of savings, you need to quickly assess your financial situation, create a temporary survival plan, and then take steps to get back to work. You may want to read “What to Do if You Can’t Pay Your Bills.”

Take a Realistic Look at Your Finances

Take a good look at your finances. If you have been living from pay check to pay check, you will need to figure out which bills you are going to be able to pay. Prioritize your expenses according to which bills you must pay, which bills you can hold off for a bit by speaking to creditors, and which bills you can possibly consolidate. If your spouse or partner is still working, you will need to jointly discuss and rework your budget. If you have savings, figure out how far they will go using your prioritized list of bills.

Should you simply not have the means to pay any bills after you lose your job, and you sense trouble on the horizon, i.e. no food, gas, heat or lights, then seek out help immediately. Depending on your resources, you may qualify for Medicaid, Food Stamps, TANF (Temporary Assistance for Needy Families) or HEAP (Home Energy Assistance). Your local Department of Social Services can direct you. Be proactive. Find out what is available and apply.

Indentify Ways to Converse

An important step to take if you have lost your job, is conservation. Think of ways you can conserve. You will find many ways to save money in our "Save Money" section. Here are some examples of how you can converse your funds after you lose your job:

Grocery shopping is one area that usually can be manipulated. Look for discount and bulk stores, and buy only those items that your family will eat. Focus on simple, nutritious meals. Avoid takeout and fast food drive-thrus.
See if you are able to transfer your high interest credit card accounts to one lower interest account.
If you have equity in your home and your credit is fairly good, you may be able to tap into that, but use this as a last resort.
If friends and family owe you money, this is a good time to call in a favor.

Take Care of Yourself

Losing your job is stressful and so it is important to take good care of yourself during this potentially difficult time.

Get plenty of exercise and rest.
Eat right and do something fun each day.
Use some of your newfound free time to give someone else a hand. You could volunteer to deliver meals to the elderly, help the homeless, or find another worthwhile cause.
Help your child with their homework.
Catch up on some of the things you’ve been too busy for.
If you feel like you could slip into depression, see your doctor. Unfortunately, depression is a sign post of recession. You’re not alone. Get help before it deepens and speak with a counselor if you need to.
Try to stay positive. Read “How to Maintain a Positive Attitude and Think Positively” and "Using the Power of Perspective."

Begin Your Search for a New Job If you are certain you will not be returning to your former employment, you can begin your search for work. This might be a good time to do a little soul-searching. Do you want to continue in the field you’re in, or is this a good time to seek additional training or even change careers completely?
Talk to your employment counselor to see how this will impact your unemployment payments. If you choose to look for work, put your best foot forward. Put together a great resume and cover letter and start sending it out. If you think of this as an adventure- as an opportunity for change- you may find yourself getting excited. You may even want to explore the idea of creating a home business.

Gracefully Accept Your Situation

Try as best you can to accept your job loss situation with some grace. If you approach unemployment as a temporary inconvenience that you can and will deal with, you’ll get through to the other side revitalized. Be willing to make some sacrifices and cut corners where you can. Use this time to reclaim some of the interests you’ve abandoned through the years, and draw close to your family. Stay physically, mentally and spiritually active. When it is time to go back to work, you will be ready and willing to be there, and it will almost be as though you had never lost your job in the first place.

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