My colleagues, Jaime Klein of Inspire Human Resources, Tevis Gale of Balance Integration and I presented this comprehensive, tremendously useful tip-packed seminar last week, called “Success After Severance”. Here were some of the take aways:
1) Make your job search as detailed and customized as possible. If you are sending out a resume, make sure you have included key words found in the job posting and used their job description as well.
2) Increase your focus by clearing your mind. A job search is a process and the clearer you are going through each step, the more potential for success you will have.
3) Be focused but creative.
4) Determine one number of your fixed monthly expenses. Then come up with a weekly amount to spend on variable expenses. If possible, only use cash. This allows you to pay your bills, have a plan with your money during an unstable time and still live your life. Also, if you received a severance, following this will allow you to realistically evaluate how long it will last.
5) Keep as little in your checking account as possible. Transfer money from your savings to checking once a month. If you run out ……
6) Find a “severance” buddy. Someone who has been recently laid off and can help you keep accountable of your spending and money habits during these uncertain times.
7) Allocate a certain amount for a “treat”. Even if it is only $25 a week (or month), it will help alleviate your stress. It could be a manicure or 2 beers at the local pub. ~~~ Galia Gichon is an independent personal financial expert and founder of Down-to-Earth Finance.