If you are currently unemployed then you already know how difficult it can be to get yourself back on your feet. This is especially true if your loss of a job was a total surprise and you had no time to prepare for it. However, there are several things you can do to protect your finances during your unemployment and ways you can pull yourself back up on your feet. Remember that thousands of Australians across the country have dealt with unemployment over the last several years, and many of them have successfully recovered and landed another job. Below are a few tips to help you get back on your feet after losing your job.
Get Control of Your Finances
The first step you want to take after losing your job is to contact the Centrelink office in your area and sign up for Newstart Allowance benefits. There is often a seven-day waiting period before benefits will begin, but it is vital that you sign-up within a day or two of losing your job. This will ensure that everything is in place and allows you to start receiving your benefits as soon as possible.
It is also important to take a good look at your current finances. Make a list of all the income you have coming in, including any redundancy or years of service pay, along with your Newstart Allowance pay, and also make a list of all your current expenses and outstanding debt. By comparing these figures, you should be able to get a clear picture of how long you can stay financially stable without a job. While this will give you a good timeline to work with, do not underestimate how difficult it may be to find another job, especially one at the same pay level.
Be Financially Responsible
You also need to stay financially responsible while on unemployment. You should instantly cut back on your spending and try to save back as much money as possible. Be careful how you spend any big lump payment you may receive from your previous employer. While your instinct may be to pay off some of our outstanding bills or take a holiday, you need to remember that you will need this money to help you survive until you find another job.
If you have already spent your money and are now having trouble keeping up with your household bills, do not panic. Contact any companies that you owe money to and explain your current situation. Many times these companies will work with you and set up a payment plan that you can afford. You may also qualify for a hardship allowance, which may reduce the amount of money you owe. The worst thing you could do is to sit and do nothing. This can damage your credit, cause you utilities to be shut off, or cost you a lot of extra costs in late fees.
Depression can be a huge problem for some people after the loss of a job. This, in turn, can make it difficult to find the motivation to look for another job and can wreak havoc on your finances. To avoid this problem, it is important that you try to stay as active as possible and be sure to take care of yourself by eating right and exercising. Considering joining a club, volunteering, or getting a part-time job. These things will not only help to prevent depression, but could offer the connections you need to finally land a good job.
Search for New Job Opportunities
You want to take full advantage of the Job Seeker Workshops you can attend while receiving Newstart Allowance. These workshops can help you learn how to write a dynamic resume, learn some interviewing tips, and learn how to search for job opportunities online. If you have been struggling for a while to find a new job, it may be time to search for new job opportunities. You may need consider taking some extra training to obtain some new skill sets, or maybe even relocate to a new area.
The most important thing to remember is to just keep trying and do not be too hard on yourself. The job market is tough right now and many people are having a hard time. Always be sure to ask for additional help if you need it, there are many resources available to help you pull yourself back up. However, if you stay positive and keep your head up, you will be able to successfully get back on your feet again.
Share other ideas or tips that you have that can help those going through what can be a challenging time.
Image by Grant Cochrane