What to do if I lose my job – Oh babygirl we know this is a high stress question. Losing your job can be jarring. If you saw it coming or it hit you out of nowhere, losing your job just plain stinks.
Take a moment. Breathe. Meditate.
You are not alone, and you are not without options. In fact, this unexpected turn might lead you toward a more fulfilling path.
This guide walks you through the ominous “What to do if I lose my job,” question, with practical steps, encouragement, and clarity.
1. Take Care of Your Immediate Personal Finance Needs: What To Do If I Lose My Job
The first thing you need after losing your job is a plan. You need to evaluate your current financial position to avoid panic and set yourself up for stability while you move forward.
1A. Assess Your Budget — Did You Get Severance?
Take out a notebook, spreadsheet, or budgeting app and do a clear assessment of your financial situation. Ask:
- Did I receive a severance package? If yes, how much and over what time period?
- What are my fixed monthly expenses (rent, utilities, loans)?
- What are my variable expenses (groceries, entertainment)?
- What existing savings or emergency funds can I tap into?
Create a bare-bones budget that reflects your current needs—not your previous income. Be honest and realistic.
Pro tip: If you received severance, avoid lifestyle creep. Treat it like a short bridge to your next step, not a safety net to lean on forever.
1B. Apply for Unemployment
Don’t wait to apply. In many states, there’s a delay between applying and receiving benefits, and every day matters.
- Visit your state’s unemployment website.
- Have your layoff notice, past pay stubs, and work history ready.
- File immediately, even if you’re unsure whether you qualify.
Unemployment benefits won’t replace your full income, but they can help cover essential costs during your transition.
1C. Pause or Minimize Major Financial Commitments
If you were planning a vacation, big purchase, or even a move, now might be the time to put it on hold. Contact lenders to explore payment deferment options for loans, credit cards, or mortgages. Many companies have hardship programs in place for people facing job loss.
This isn’t failure—it’s being financially wise.
2. Take Care of Your Mental and Physical Health: What To Do If I Lose My Job
Job loss is about more than finances—it’s an emotional event. For many, work provides structure, identity, and social connection. When that disappears, it’s normal to experience grief, fear, or even shame.
But you are not your job. And now, more than ever, your health needs to come first.
Practice Mindfulness and Meditation
Start small. Just five minutes of meditation a day can reduce stress, clear your mind, and help you stay grounded.
- Try apps like Headspace or Insight Timer.
- Practice deep breathing.
- Journal your thoughts, emotions, and hopes.
Establish a Routine
Set a consistent wake-up time, schedule breaks, and have regular meals. Routine brings a sense of normalcy that combats the chaos.
Stay Active and Nourished
Even a short daily walk helps regulate mood and energy. Physical health and mental health are interconnected. Don’t skip meals or sacrifice sleep out of stress.
You’ve got to be strong—for your next opportunity, for your loved ones, and for yourself.
3. Take Care of Your Physical Health: Insurance Options: What To Do If I Lose My Job
One of the scariest parts of job loss is losing health insurance. But there are options available—and you likely qualify for special enrollment coverage.
Check COBRA
COBRA lets you continue your employer-sponsored health insurance after job loss—usually for up to 18 months.
The downside: It’s often expensive because you now pay the full premium (what your employer used to cover + admin fees). Still, it’s a good option if you have ongoing medical needs or prescriptions.
Explore Healthcare.gov (Special Enrollment Period)
Losing your job triggers a special enrollment period (SEP), meaning you don’t have to wait until open enrollment.
Go to Healthcare.gov and:
- Enter your ZIP code to explore plans.
- Compare monthly premiums vs. coverage needs.
- See if you qualify for subsidies based on your new income level.
Pro tip: Marketplace insurance may be far cheaper than COBRA—especially if your income drops significantly.
Don’t delay—coverage matters.
4. Begin the Job Search: What To Do If I Lose My Job
Once you’ve stabilized your finances and health, take a breath, it’s time to turn toward opportunity. The job market may have shifted since your last search—but so have your skills.
Start with the basics.
Update Your Resume
- Tailor your resume for each job you apply to.
- Highlight accomplishments, not just responsibilities.
- Use quantifiable results: “Increased customer satisfaction by 25%,” not just “handled customer service.”
Polish Your LinkedIn Profile
Recruiters use LinkedIn as a primary tool to find candidates.
- Use a professional photo.
- Update your headline to reflect your job goals, not just your last title.
- In your summary, be authentic about your skills, values, and what you’re looking for next.
Consider this: It’s okay to post that you’re open to opportunities. Vulnerability breeds connection.
Tap Into Your Network
Now is the time to reconnect with past colleagues, mentors, friends.
- Don’t just ask for jobs. Ask for advice, referrals, and insights.
- Consider joining local meetups, virtual job fairs, or professional groups.
Your next opportunity might not be posted—it might be referred.
5. Reassess Your Career Direction
Amid the stress of job loss lies a rare chance: the opportunity to reflect.
Sometimes, losing a job isn’t just an ending—it’s an invitation.
Ask Yourself:
- Did I truly love what I was doing?
- Was I growing, or just surviving?
- Do I want to stay in this industry—or pivot?
You don’t have to rush into the next thing. Sometimes, the best “next step” is a thoughtful pause.
Consider a Career Pivot
Maybe you’ve outgrown your field. Maybe your industry is shrinking, and you want future-proof skills. This is your moment to explore.
- Take free or low-cost courses (Coursera, edX, LinkedIn Learning).
- Explore certifications in high-demand fields like tech, digital marketing, project management, or healthcare.
- Talk to professionals in fields that interest you.
You are never too old—or too stuck—to pivot.
Freelance or Contract Work While You Rebuild
A full-time job isn’t the only way to work.
- Freelancing can provide income and flexibility.
- It lets you build new skills and a network in a new industry.
- Sites like Upwork, Fiverr, and Toptal offer ways to start.
You might discover that your ideal career was never on the traditional path to begin with.
Final Thoughts: Turning Loss Into Leadership
“What to do if I lose my job?!” can be one of the most overwhelming questions to ask yourself. Losing your job is not a reflection of your worth. It’s a circumstance, not a definition.
And while you didn’t choose this path, you can choose how you walk it.
Take care of your finances. Take care of your health. Take care of your dreams.
Let this chapter refine you—not define you.
🌟 Summary Checklist
✅ Assess your finances, apply for unemployment
✅ Pause large spending and trim your budget
✅ Look after your physical and mental health
✅ Secure health insurance (COBRA or Healthcare.gov)
✅ Refresh your resume and LinkedIn
✅ Network intentionally and authentically
✅ Reflect—this might be your moment to pivot
✅ Explore freelancing or new fields if needed
✅ Stay grounded, stay hopeful
📘 Resources
- Healthcare.gov – Special Enrollment
- CareerOneStop.org – Unemployment Help
- LinkedIn Learning
- Coursera
- Upwork
- [Mindfulness Apps: Insight Timer, Calm, Headspace]
You’ve Got This.
Every career has its valleys. What you do next—today—determines how high your next peak will be.
And remember, sometimes the most powerful breakthroughs begin with the words:
“What to do if I lose my job?!”
