The U.S. unemployment rate is at 8.1% with no clear sign of improvement. What do you do when you are suddenly retrenched from a well-paid job? You have been working in a company for more than 20 years and you are given a house and a car plus other benefits. Here are practical ways to face such a challenging situation:
1. Spend only on what you need: Previously you were able to spend more than necessary and went on vacation overseas. Now you have to cut back and spend only on essential items.
2. Live frugally: You have to live in your own small house and adjust your lifestyle. You will have to send your children to attend a school which is less expensive without suffering quality of education. It is also necessary not to buy more expensive clothing and to spend less on holidays.
3. Accept a lower-paying job: Accept an offer from your good friend who is willing to help you out. The job may be paying so much less than what you used to earn and it involves a lot of traveling. It is just good enough to maintain your family‘s livelihood.
4. Be happy with what you have: Learn to appreciate what you have and be content with your present situation. Things could be worse.
5. An attitude of gratitude: Instead of a why-me attitude which leads to anger and resentment, be appreciative of people who lend you a hand in time of difficulties. Think about the new job which keeps you afloat.
6. Continuous learning: Continue to educate yourself and update your skills. Learning new things keeps your mind alert and sharp.
7. Be prepared for opportunities: When you focus on upgrading yourself, you stand a better chance when an opportunity knocks on your door. The most important thing is to take care of your health, look at the bright side of things and continue to look for a better job.
Coping with trying time requires resilience, courage, resolve, and determination. Tough time will not last, tough people, do.
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