What to do if you Lose your Job

What to do if you Lose your Job Losing your job can create an unexpected financial burden, which can lead to even bigger problems and the accumulation of debt. Luckily, there are steps you can take to improve the situation more quickly. In this podcast, we will cover those tips and discuss how you can lessen the severity of the impacts a job loss can have on your financial stability.

What to do if you Lose your Job: Familiarizing you with basic mortgage terms and language.


Welcome to another edition of our CredAbility [now Clearpoint Credit Counseling Solutions] podcast. Along with your host, Mechel Glass, here is Steve Moore tackling a tough topic in today’s economy, “What to do if You Lose Your Job.”
Steve: Well, Mechel, losing your job is never a fun thing but it is something that’s going around these days. So what are your recommendations for those who may be dealing with this situation right now?
Mechel: Well for those people who are dealing with the loss of their job, they need to take a moment to settle themselves. If they’ve gotten severance pay, then there’s some time there where you can take a week to really evaluate your situation. Take this as an opportunity to think about if you’re going to go in a different career direction or if you’re going to change your lifestyle, meaning, downsize your lifestyle to something that’s more affordable for you and your family. You also want to network as much as possible and build new relationships and call those old relationships that maybe you haven’t talked to in a long time. Start networking with those people and let them know what’s going on. Let your family and friends know what’s going on in your situation. They may be able to provide some tips, provide you with a new direction, provide you with things that maybe you didn’t think about when you were working full-time. Maybe you thought, “I have to go out and find the same job that I had.” But that’s not true, that’s why you want to take some time to really settle yourself, get ideas from family and friends, network with others. They may see something in you that you didn’t even think about before.
Steve: You know, in the past, losing your job, there was a stigma attached to that, when the economy was flourishing and doing well. But there are so many people now who have been downsized who are in that situation it’s become almost common place and nothing to be embarrassed about.
Mechel: That’s exactly right. You can look at this as an opportunity. An opportunity to do something new. Something that you may not have had the time to do when you were working full-time. So don’t get discouraged. Surround yourself with your loved ones, surround yourself with people who can encourage you. Stay away from people who are negative, who are thinking “Oh, you’ll never find a job.” Don’t be around those types of people. But, be around people who can encourage you and show you new directions and new opportunities that you may not have thought about before.
Steve: If I’m pretty sure that I know what it is that I want to do, where do I start to find those types of jobs?
Mechel: Well the first place you want to start is at the local Department of Labor in your state. They have classes that you can take, from resume writing to interview skills. Their database has a listing of all the jobs that are available in your state with your particular skills, so that would be one place to go. Also going online to look at the various job sites, that’s another place that you should go, and bookmark those sites and go there every day to see what’s new and what’s been refreshed. And also, they can always come to our website at CredAbility [now Clearpoint Credit Counseling Solutions].org to find a large number of classes and resources that we have available to help people that have lost their jobs and also to help people who are trying to downsize their personal finances.
Steve: Thanks, Mechel.
Mechel: Thank you.