How to Survive a Job Loss - Steps You Need to Take Now!

If you have recently joined the ranks of the unemployed there are things you need to do right now to get through this difficult period. Since the job market is not improving and, in fact, is getting worse, the reality is that you may not find a job as quickly as you expect. There are certain things you can do right now that will best enable you to ride out this difficult employment market and keep you from spiraling into insolvency.

Job Search
You need to apply the Law of Averages in searching for a job in your field. I've written about the Law of Averages in previous blogs but let me summarize it here. The Law of Averages is a process of employing statistical probability to getting anything you want. In the case of a job search, the Law of Averages requires that you systematically (daily) send out customized resumes and cover letters to your list of prospective employers (which should be at least 500). You need to dedicate part of each and every day to sending out at least twenty resumes/cover letters either by hard copy or email. The Law of Averages guarantees that at some point you will receive a job offer. but you need to keep at it and never cease in applying this process every day.Until your ideal job offer comes through take any part-time or full-time job that comes along immediately. This is no time to allow your ego to have any say in the matter. Recognize that you may not find your ideal job for at least two years or more. Lastly, tell everyone one you know that you have lost your job. Begin an all-out networking campaign. Join Linked-in, set up a face book, begin meeting with placement agencies(permanent and temporary) right away.

Finances
Many who found themselves unemployed in 2007, 2008 or 2009 made the mistake of not curbing their expenses. Now is the time to create a monthly budget and identify expenses that can be reduced. As a general rule, you will need to reduce your discretionary expenses by at least 80% to survive what could be a long job search. Discretionary expenses include restaurants, bars, nightclubs, clothing, Starbucks, paying for lunch, vacations, entertainment of any sort, gambling, lottery, buying books, cds, on line music, gifts, hobby expenses etc.. Do not wait to do this. It should be done the day after you received your pink slip. You must now alter your mindset and shift to survival mode or face insolvency down the road. The next category of expenses are your monthly fixed expenses. Switch to basic cable today, Move to a lower cell phone plan. Reduce your thermostat down to 64. Trade in you new vehicles for used, cheaper vehicles that get better gas mileage. Obsess over every disbursement. contact your child's private school and inform them that you just lost your job. They may have needs-based assistance programs to help get you through your unemployment period. You main goals should be to save your home, feed yourselves and survive.

Every day you delay in taking the above survival steps is another day you move closer to insolvency and dependence upon relatives.this is no time to be optimistic about finding employment. This economic environment is the closest we have come to a depression since the Great Depression. And its not getting better. Think survival. Act now to insure your family's survival.

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