Your Wealthy Mind

What To Do If You Lose Your Job

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I have mentioned some time ago that I started streaming digital art at PocketLive. Unfortunately, while it was indeed fun, it didn’t last and lots of streamers have had to move on. A job loss is indeed terrible, but you have to remember that it’s not the end. It is usually the beginning of something much better.

What To Do if You Lose Your Job

The very first thing you need to do is calm down and assess the situation. You’ve lost a source of income and, if you’re buried in debt and the bills are piling up, it can certainly feel desperate. For now, resist cursing or complaining about your previous employer that let you go (even if they do deserve it). If you’re too angry or emotional when looking back at past events, you’ll be blind to the opportunities around you… as well as the freedom you have now.

 

Second, never forget that there are, indeed, opportunities all around you, although you’ve probably never paid attention to most of them. In my case, I certainly didn’t want to try streaming before I begrudgingly decided to try PocketLive (and hey, who knew I’d like it). There are multiple job hunting websites you can use and you’ll likely find openings all over the city you live in.

Aside from looking for regular jobs, in this internet age you can even setup your own online business. Is there a business that you’ve always wanted to start? This just might be the opportunity you’ve been waiting for. In my case, since I don’t need to stream for several hours a day, I’ve had more time to concentrate on my blog.

Is there a way for you to use your skills and talents to earn money? Check out the multiple freelance websites on the internet. If you’re good at art, consider opening commissions (which is something I’ll do). If you write well, consider freelance writing. You can even consider careers you’ve previously thought were crazy, like becoming a professional athlete, model, actor/actress, or something else. Don’t laugh at those possibilities as they just might be your next step towards success. Losing a job is not so much an “ending” as it is a “new beginning”. This is a chance for you to find a better position or enter your dream career. Find something you’ll have fun doing and earning money from for the rest of your life.

If I were to give you an example, in my case I still want to draw and create digital art so I will likely continue streaming on different platforms and open commissions (this is my commission link in case you want to check it out). I find drawing fun, so I might as well use it to create value and earn from it, like how most people earn from their jobs. Never forget the tip: “do what you love”. It’s similar to Manny Pacquiao and Tiger Woods earning millions through boxing and golf.

 

And finally, before you move on to your next job or career, remember to make full use of the free time you have right now. This is your chance to do the things you’ve always wanted to do but couldn’t because your job was in the way.

Review your life and plan for your future. We’re usually too distracted by the daily and weekly chores in the office that we sometimes forget to plan for our future or do what we need to achieve what we’ve always wanted. Was there a good book you’ve always wanted to read? A book that can teach you how to earn more money, get a better career, or start a million-dollar business? This is your chance to learn things that can help you become more successful!

Are there things that you’ve always wanted to try? Travel to new places, meet up with old friends and family, try a new hobby like cooking or martial arts, or start a new exercise habit at home? The transition between jobs is one of the few times you’ll ever have the free time to do those things, so why not use that time wisely and make great memories? Who knows, you might just find your next fun career path along the way, just like my mountaineer friend who got a job at the tour company he used to go with.

 

Never forget that a job title does not define who you are. It’s simply a way for you to earn money. Why not make it something special? Something you’d love to do? You’ll find a new way to earn money soon enough. There are opportunities everywhere and all you’ll need to do is search for them and take the best ones you can.

 

Before you go, however, take this time to learn how to manage your finances well. When I first graduated from college, I spent 10 months studying personal finance and investing on my own so I learned to invest and create a cash buffer for emergencies (like job losses or illnesses). The knowledge and habits I’ve learned helped a lot, and it will likely help you as well.

Check out my other articles about managing money below. Learn the concepts so that job losses, new careers, or starting a business won’t be much of a financial burden to you. Learn to create a great cash buffer for when you’re starting your dream career or business.
Why Study Personal Finance?
Personal Finance Basics: The Beginner’s Guide to Wise Money Management
How to Manage Your Money: A Short Lesson on Personal Finance

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