What should I do if I get laid off?
What happens if you lose your job? There is a good chance you could be facing unemployment in this slowing economy. Here are some tips if you do end up getting your pink slip.
- Don’t panic! Stay calm and don’t get too down on yourself. Most lay-offs occur when big executives decide that they want to spend less money. Don’t take it personally. Heck, you didn’t even like that job anyway!
- Be sure to keep your health insurance coverage. If I remember correctly, you are allowed to keep the same medical coverage after being laid off for a number of months. The only catch is that you have to now pay for it, but you are paying the group rates instead of the individual retail rates. The group rates tend to be a whole lot cheaper.
- Collect unemployment. You should absolutely take advantage of the opportunity to collect unemployment. After all, you were indirectly paying for it all these years! Unemployment usually lasts up to six months and doesn’t have to be paid back. Your unemployment paycheck is based off what you were making, but is usually far less. But, when you lose your job, every penny counts!
- Start looking for a new job as soon as possible. Don’t let your emotions prevent you from getting yourself back on track. Start searching for a new job the day you get laid off.
- Use this opportunity to change careers or go back to school. Since unemployment levels are so high, you may find it difficult to get another job. Now is your chance to get a degree and pursue that career you have always wanted. Education is easier and more affordable than you think. Check out some of the opportunities in our STUDENT section.
As long as you don’t have a major melt down, losing your job won’t be the end of the world. Just remain positive and things will start falling into place.