I have lost my Job! What to do?

Currently, the rate of job loses is high due to the economical recession which was accelerated by COVID-19. In fact, if you are one of the unlucky people who lost their jobs, you need to do the following to mitigate the damages:

  • You have to accept the fact that this is normal an not personal
  • You have to stop blaming yourself or others and accept it to move forward
  • You have lost your job due to recession not due to lack of qualifications or performance

Once you reduce the period of shock and denial, you need to think of the following:

  • Evaluate you financial situation in terms of loans, debits, savings, rent, monthly expenses
  • Evaluate the family health insurance, general insurance, schools fees, children’s special needs
  • Evaluate if you can continue in the country of residence, in case you need a sponsorship or working visa
  • Evaluate the job market for your field and the changes within it if you can adopt and go with it
  • Evaluate if you can start your own business with/without partners and how to kick-off the start
  • Evaluate your small investments (If any) what’s their short and long payback amount and time

After evaluating your position, you need to act realistically away from fantasy or dark-side as follows:

  • Update your CVs and market your skills professionally
  • Get your mind ready t do interviews and read about new interviews tips
  • Search for a potential job which at least pays the bills
  • Search for a decent business partner to start business with
  • Limit your expenses to essentials as you probably will spend from your savings
  • Use your investments that have good returns on short term to cover your essential expenses

The situation is difficult and painful, but you have to pursuit towards financial independence everyday either by investing or a business identity whatever your career is.  As a matter of fact, you will reach to point where you are going to be either too expensive to by employed or unfit for work!

Many sites and writers will list thousands of lessons learned from such painful experience, but here we will beg you to make a list of your own on what lessons you have learned based on your own situations and variables… but the major one you have to consider it every day is How to be financially independent¬†

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