You’ve just been made redundant and you are worried about paying bills…
6 things you can do to help you respond quickly.
Redundancy comes in all shapes and sizes, at all times of your career, and life. It rarely comes when you really want it. The number 1 worry factor after redundancy is financial uncertainty.
So if money is on your mind - what do you do?
Here are a few things which will help you.
Know and love your numbers
Spend some time going through what you need to earn every week/month. Be very clear on your monthly allowance, what you spend on rent/mortgage/food/bills/commitments.
Look for things that you can stop or delay. It doesn’t have to feel like you are making sacrifices, it’s just a temporary change to your circumstances to make life easier for. You can reinstate all the things you really miss when you are back earning again.
De-cluttering of your finances might feel quite liberating! You may find things you had forgotten you are paying for, or hardly ever used (ehhem, gym membership?).
When you make changes to your budget, approach it as a challenge that you are problem solving. It’s understandable if you are feeling low about your job, and then feeling like you are having to stop things because of it, can spiral your mood, and only make you feel worse. Creating the sense of it being a creative task will make you feel differently towards what you need to do.
Think about basic needs for a while, and see it as an opportunity to review how you spend your money. It could end up being a cathartic process!
Finding a close friend or family to confide in will also help you. Don’t feel alone trying to sort out money during a difficult time.
This is a temporary situation, you will find a solution and start earning again. The aim is to feel in control and aware of money but not letting it rule all your thoughts.
2. Get out there
If you need to get income coming in quickly, focus on what you’ve got. Use your network. Think about what you are known for, and what you are good at. Start to tell people that you are looking for work. Share what kind of work you are looking for. Avoid saying ‘ any work’, be clear in what you want to do. It will mean you will come to mind if people know of an opportunity.
There is absolutely no shame in being made redundant. Thousands of people loose their job every year. Don’t get stuck in what has happened. Start future thinking, keep an open mind, start telling people you are ready and able to take on new challenges.
3. LinkedIn it
Get on LinkedIn. If you don’t have a page, sort one out today. It doesn’t have to be complicated to get you up and running. List your previous jobs and your achievements in those roles as a minimum. Write a few posts about yourself, that you are available for work and what you are looking for. LinkedIn is a hugely supportive community. If you are specific about what you want people will be able to help you.
Be transparent and post on LinkedIn that you are available for work and what you are looking for, and be clear on location.
If you are open to project or freelance opportunities tell people what you can help them with. Think about the problems you solve for people. There is plenty of work and opportunity out there, and people will want to help you,
4. Keep your dream
If you have get work quickly and take the first job that is offered, it doesn’t mean you forget about your dream career. Keep the thinking going. You can start a side project. You can start to volunteer. You can look for opportunities in your new place of work. Just because you have to take a job now to cover the bills doesn’t mean that’s your lot. All you are doing is giving yourself time to think. And at some point if you let that idea grow you’ll eventually be ready to leap and start the job you’ve dreamed of doing.
5. Don’t worry if it turns out you’ve taken the rebound job
If you take a job that was very close to the one you had, you may find yourself wondering why a few months down the line. It’s like a bad break up where you are hurt, you want to feel loved again, you’ll show them - so you take the first opportunity that comes along. Then you realise. Then you know you’ll have to break up all over again. But this time you are in control. Don’t worry if it’s only been a few months. Look at LinkedIn, it’s full of people who discovered the job they thought they had taken wasn’t the job they wanted at all. Invest time thinking about what you really want. What’s not working. And begin that search again.
This is a temporary situation. Trust yourself. You will find a solution. You’ve got this.
6. Get further support with your money worries - and make them drift away!
If you want further support with your money mindset head over to Emma at The Money Whisper. Emma coaches you to have a better relationship with money, she supports you to sort your finances out so financial worries wont happen again (she’ll make you set up an emergency fund, it wont feel fun, but she does it with a smile, you wont enjoy it, then one day you’ll love her for it). Emma also has lots of useful blogs and resources to help you deal with pesky money stuff.
And if you want support to think about how to move towards your dream job, join the Another Door community. You’ll get access to resources, community forum and group mentoring.