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Preparing for Life Events

Life has a way of interrupting your financial plans, and adding additional burdens to your personal finances. Somethings, like college or retirement, are natural part of life. However, other life events that happen are out of your control and put you in situations that can drastically affect your personal finances. Don’t let yourself be overwhelmed by a financial crisis. Be prepared to deal with life events by browsing through our articles or downloading booklets from our library.

Employment

Surviving a Layoff

Coping Strategies

Losing a job ranks near the top of the list in terms of stressful life events. It’s easy to say that you should stay positive while you’re looking for a new job, but doing that is another matter. Work is a major part of our identities, and not having a job can be frightening.

  1. Take it easy on yourself. Losing a job is traumatic. In many ways, it can be more exhausting and stressful than when you were working. Understand that it’s normal to feel a wide range of emotions including a sense of helplessness, fear about the future, and resentment toward friends and family who "don't understand."
  2. Get help. Talk to your doctor or a mental health professional if you’re experiencing panic attacks, anxiety, or depression. Don’t assume you should just "snap out of it." You may need outside help. If you are withdrawing from family member or loved ones, or find yourself frequently fighting or arguing with them, get help.
  3. Help your children. If you have children, they may pick up on a lot more than you realize. Talk with them openly about what happened, answer their questions, and let them know it’s your job to take care of the family. There are a few books that can be helpful in talking to your children, including My Mommy Lost Her Job Today by Judy Delton or When a Parent Loses a Job: A Workbook About My Parent’s Job Loss by Denise McNaught.
  4. Develop a routine. Give yourself a reason to get up in the morning. Set a schedule for researching jobs and making phone calls. Get out to network with others. Avoid the trap, though, of finding busywork to fill your days if it means avoiding the job search you’re dreading.
  5. Exercise. Do something (inexpensive) that you enjoy but perhaps have been putting off because you were too busy to do. Walking, biking or gardening can all be good for relieving stress and keeping you healthy.
  6. Don’t dump it on your spouse. If you have a spouse or partner, don’t expect them to provide 100% of your moral support. Keep the lines of communication open, but realize you may need to find another person who understands what you’ve been through. They may be grieving and scared, too.
  7. Join a support group. Getting together with other people who understand what you are experiencing can be very helpful. Check with your local unemployment office or look online. The Riley Guide (www.rileyguide.com), for example, offers a list of support groups both locally and on the Internet.

Additional Resources:

Advice and Links to Career Resources:
CareerOneStop.org,
RileyGuide.com, and
careerplanning.about.com are especially helpful.

Staffing placement resource:
For local offices contact Manpower at www.Manpower.com.
To schedule an appointment with Spherion call 866-774-3745
or visit www.worksherion.com.

COBRA:
Frequently asked questions about COBRA are answered on the US Department of Labor’s website at: http://www.dol.gov

Cutting Costs:
You’ll find numerous money-saving strategies at goodadvicepress.com.
National Employment Law Project: www.unemployedworkers.org.

Unemployment Insurance Information:
Links to information about state unemployment benefits can be found at www.ows.doleta.gov/unemploy.

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