Your 30s are fast approaching and you are getting increasingly stuck in an industry you never cared for. Everyone you know seems to be more successful than you. You always valued one of your skills which you have not had an opportunity to use in years; you don’t even know if you are good at it any more. You hate the people you work with.
There can be any number of reasons for you to hate going to work; if you know the reason you are lucky and if you don’t, you at least know that you need to make some kind of change to start enjoying working again.
However, in the real world of early morning commutes, and paperwork and red tape, this is not so easily done. Some of the biggest stress-inducing events in life are the death of a close one, the end of a relationship, moving out and joblessness. When you are without a job, every single decision becomes a dire one and every single expense calls for well-thought planning.
If you must make a change and pull the plug on your current job, unless you already have one lined up, you will be jobless and no matter how well you think you can take it, you will be unprepared for it. The following are a few tips and suggestions to tackle joblessness and life in-between jobs.
No matter when you plan to take the leap, if you are already thinking about it, It is prudent to start preparing for it right now. Preparing for unemployment is difficult enough for a single person; if you have people depending on your pay check, then you are heading for troubled waters. Consider the following suggestions on how to get ready for it.
Save
The most important step to preparing for unemployment is to have a negligible rainy day fund. Negligible in this instance means enough money to last you three to six months without a job. There is no such thing as unemployment benefits in Bangladesh, so unless you already have emergency money set aside, there is no time like right now to start saving. You do not want to lose your job and find yourself without a safety net.
Stay within means
Being thrifty is not a process, it is a way of life, which makes it difficult to attain unless you are used to living within your means. You don’t just turn thriftiness on and off. You have to acclimatise yourself to it. I know plenty of people who will be broke and penniless on the second half of every month and never pick up the lesson when they are splurging on pay day the next month. If you know you are heading towards unemployment, stop spending money on things unless you absolutely need them, and cut corners at every available opportunity.
Use your contract to your advantage
Fringe benefits such as medical insurance or coverage are often the last things on one’s mind before leaving a job, especially when the decision is based on passion. However, if you know the day you leave is imminent, now may be the time to schedule any medical or dental appointments you have been putting off all these years and still get it under your company’s health coverage. You do not want to be jobless and suddenly be hit with a huge medical expense.
Throw away your cards
Unless you absolutely need to, stop using your credit cards right now. If you are leaving your job today, it is just one more extra payment to deal with tomorrow. If you know that your job is coming to a close, stop charging anything on your credit cards.
Create a portfolio
Once you get laid off, you will no longer have access to your workstation or work email; start collecting samples of your work (such as written pieces, proposal drafts, presentations or any tangible examples of your work) on a pen drive or email the files to your personal account. When you look for a new job, they will want to look at samples of your previous work, and you do not want to find yourself without access to them.
Do not forget networking
Networking is not a one-off activity but a constant development. However, unless the job expressly requires it, it is common to fall out of the practice. When you are heading towards unemployment, you need to scurry towards your closest acquaintances and be on the lookout for opportunities. Keep an eye open for potential opportunities at all times, whether you are at a work event or a friend’s child’s birthday party.
Study your contract
Go through your employment contract thoroughly and figure out if you have any unused leaves left. It may be a good time to use them up before it is too late. Also look through the sections regarding resignation and how long a notice you have to provide your employer, so you know how best to prepare for it.
Have the talk
Unemployment is a difficult and emotionally stressful time, not just for you but everyone who cares about you. If you are looking at an upcoming removal, have a talk with anyone who will be impacted by the loss of your job, such as your spouse, parents, children etc. Make sure you are on the same page, and most importantly, can start prioritising and setting financial goals together.