What do you do after loosing current job abruptly

[Shavkat]

I am a freelancer, therefore, this does not apply to me, however, I will al;ways focus on building multiple income stream so that even when I lose one job, I will have another job to bring me money.

I also considered myself a freelancer for more than 8 years now. But then, I still need to have a regular job online and be supplemented with the other earning platforms online.

 

[arunima]

That's why it is good to have emergency fund savings. You can fall back on it if you lose your job. And from there, you can evaluate your next move.

That's a very valid point. That's why it is suggested that one should inculcate saving habits from the very beginning. It's always wise to save for rainy days. Life and situations around us are so unpredictable. It's always good to have a financial discipline and save for emergency.

 

[IB D]

That's why in my country, even people that have good jobs are still dropping applications in other places. The concept of job security is not established in my country.

 

[arunima]

That's why in my country, even people that have good jobs are still dropping applications in other places. The concept of job security is not established in my country.

The concept of job security is gradually disappearing everywhere especially if you are into private job sectors. And in current times with so much of unpredictability around the world, the economic situation keeps fluctuating. Nothing is a surety. The saga of layoffs around the world is still continuing. Today Disney laid off around 4000 people.

 

[eldavis]

I think the best thing to do first is take a time out to clear your thoughts, this would prevent you form make unnecessary decisions, then you can start going out to look for other jobs.

 

[Johnson2468]

Losing of job unexpectedly is one of the reasons why everyone needs to work towards have multiple streams of income or emergency reserve that can still help you before getting another job

 

[uptrendfinancialsignal]

you need to sit down and plan properly. If you have enough funds you can start your own business and become your own boss on the long run.

It is true that you need to sit and plan because you cannot work in a company forever.

 

[Chibson]

It is true that you need to sit and plan because you cannot work in a company forever.

Yeah, starting a business is even the best option so that you can be able to employ other people. Business will give you financial freedom.

 

[relcap23]

Usually companies pay severance pay so make use of the money properly and look for other jobs immediately because expenses continue to occur. Frugal living must be observed.

 

[Chibson]

Usually companies pay severance pay so make use of the money properly and look for other jobs immediately because expenses continue to occur. Frugal living must be observed.

I think this is the best option. If someone is fired from a job then the person should use his pay to start up a business. You can even be more successful with it.

 

[Starmix]

In case, it happens to me, there is no worry because there are many jobs awaiting us online. acceptance is the best way to avoid depression of losing a job. Those who experienced this, I am so sure, they are happy now with their online affairs.

 

[Chibson]

cases like this is the reason I always encourage people to have multiple streams of income. When you have multiple streams of income you will not be attached to a particular job.

 

[relcap23]

Remember what happen during the COVID 19 pandemic? Many people lost their jobs but some were able to pull through using their abilities and creativity. Food delivery, online selling flourished. It's a matter of rising up after the fall.

 

[Niyi Briggs]

The reason why you are told to have an emergency fund saved up in an account. You can draw from this and survive while you are still search for another job.

 

[Chibson]

The reason why you are told to have an emergency fund saved up in an account. You can draw from this and survive while you are still search for another job.

It is one of the major reason it is important and necessary people should have savings. You can use it to survive for a while while your search for a job or go into business.

 

[Shavkat]

If the employer settles me with very good amount of money, i will try to set up my own business.

It would be great if there is an agreement like this. Unfortunately, some companies asked their employees to sign contracts that they can terminate them depending on the company's discretion. This is not a good thing.

 

[Reedex]

I have not had such experience , as such I do not know how it feels.

 

[Chibson]

It would be great if there is an agreement like this. Unfortunately, some companies asked their employees to sign contracts that they can terminate them depending on the company's discretion. This is not a good thing.

Yeah, I believe if someone wants to get a job then he or she must sign a contract that favours him or her. But some employers will totally not agree to that.

 

[Shavkat]

I am not having any kind of real job right now because i am working online. i consider working online as my duty and a job as well.

It is nice that you are somewhat a freelancer online. I wish I could do the same thing. I have been working online for more than 8 years and it was not fine working with a new company regularly these days.

 

[Etini Willie]

When you loose a job, the next thing to think of is business. I have been there and I walked out with my head held high. When I lost my job, I felt very discouraged to continue working for someone, for some strange reasons, It motivated me to start my own business. "That way, nobody will wake up to give me a sack letter" I said to myself. So far so good, my business is thriving