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Lost Your Job? Here’s Your Plan of Attack

November 18th, 2008 · No Comments · Budgeting, Consumer Debt, Consumer Info

Cindy

by Cindy

Having been a corporate slave for a good portion of my life, I am all too aware of the complacent, comfortable feeling that traditionally comes with long-term employment. The daily routine is built in for most Americans, who, on average, spend 70% of their Monday-Friday waking hours on work-related activities. But it seems, with recent economic times and competition being what it is, that the warm fuzzy feeling of stability in our jobs is looong gone for most of us. So if the axe suddenly falls on you, what should you do?

  • Don’t panic: begin some basic expenditure cutting that you can live with temporarily, at least: for example, no eating out, put vacations on hold, cut back the cable service, do your own manicures…
  • File for unemployment if you qualify; your previous employer pays for it, after all. It’s a pretty easy process in most states; contact the U.S. Department of Labor to find out the procedure for your state.
  • Begin the process of gathering contact information for all your previous co-workers, friends, neighbors, family members, acquaintances; anyone and everyone you can think of. This is your “network” and is where you will start as far as finding open positions and getting referrals. Contact each personally via phone or email and discuss your situation and what kind of position you are seeking and provide your resume as applicable.
  • Before you start networking, you need to make sure you have a rock-solid current resume ready for distribution.  Hire a professional to create or critique if possible; this will make a first impression and be the pivotal piece to determine if you even get a chance to step through the door for an interview.
  • Get your resume out there on the many online employment sites; much less effective than your neighbor taking your resume in to the company where he works and handing it to the boss, but you have to cover all the bases.
  • Get out there on social networking sites; Facebook, Linked in, and others.
  • Be aware that your job search expenses may be tax deductible. The IRS allows deductions for certain expenses incurred in looking for a new job (in your present occupation), even if you do not get a new job. According to IRS tax regulations, you can deduct amounts you spend for typing, printing, and mailing your job applications, so ensure that you keep accurate records of expenses.
  • Some additional ideas (a little more drastic) are to get a roommate to share expenses, get a temporary job just to make ends meet, sell some items on craiglist or ebay that you don’t need, collect aluminum cans (sorta kidding here!); but you get my drift.

When you get laid off, you need to make sure you don’t crawl into your cave in embarrassment. In fact, it is the ideal time to walk around and meet new people everywhere you go; keep a resume or a card with you! You never know when you may meet someone who can help you or knows someone who might have a position that is a fit. Networking is the most effective way to find employment. Good Luck!

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