How to Survive a Layoff

Posted by Don on August 23, 2016

Getting laid off from your job is not any fun, regardless if you saw it coming or not. I know because I was there. Three years ago, I was working at a great job and performing well. Then one day I was called into the owner’s office and was told I was losing my job. There was no sadness or even fear in the moment. I was at a complete loss. It was strange. Looking back, it still boggles my mind that I was let go, but I’ve accepted it. I am happy and in a much better place now because it happened. But at the time, it was stressful.

How to Survive a Layoff

Below are some tips for how to survive a layoff, should you ever find yourself in the same situation.

survive a layoff

(Photo Credit: iosphere/

Plan for a Layoff Before it Happens

The first thing you need to do is to plan. Not after you get laid off, but before. You need to have an emergency fund. I know many people think that having a savings account with money in it isn’t the sexiest thing, but trust me, it went a long way.

After the shock wore off, I started thinking about how I was going to survive. How would I pay the bills? Obviously I needed another job, but there was no guarantee I would find one quickly.

Knowing I had money to cover my expenses helped to ease a lot of stress. I knew I didn’t have to take the first offer that came my way just to keep a roof over my head. I could be a little more selective in choosing a position that fit best.

With this said, I did alter my spending. Obviously I wasn’t spending like I was when I had a steady income coming in. Cutting back and having money in savings was a life saver.

Read More: Hindsight is 20/20: What to do Before Getting Laid Off

Make a Schedule

After you lose your job, what are you going to do with your days? Again, coming from experience, you can easily waste it away. I was laid off on a Thursday morning. So I took that day, along with Friday and the weekend to take everything in and do a lot of thinking.

When Monday rolled around, I was on a set schedule. I was up at 7am and I had things I was supposed to do for the day. This also helped me to get through the layoff.

I could have easily slept in each morning and watched TV and movies all day. But I didn’t. I set and kept to a schedule so that I could find a good job.

Read More: 7 Fun and Beneficial Things To Do While Unemployed

Treat Looking for a Job as Work

This leads me to the next point – work. Even though you aren’t going to work, you still should treat looking for a new job as work.

That Monday morning, I woke up and began working on updating my resume. Then I began searching for jobs.

On Tuesday, I started to reach out to friends and former colleagues to see if they knew of any companies that were hiring.

While searching for a job didn’t consume my entire day, I made sure I was still productive. I went grocery shopping, did the laundry, etc. I made sure that I didn’t just become a lazy bum because I knew how quickly times passes. Before I knew it, it would be eight months later and I still wouldn’t have found work.

At that point, interviews would be odd. The question was going to come up, “what have you been doing for the past eight months?” and I would either have to lie and say that I was really looking for a job without luck or be honest and tell them I was sitting on the couch all day watching re-runs.

I didn’t want to get to that point, so I made sure I treated looking for a job like it was a job.

Read More: What to Expect When You File for Unemployment

Stay in Good Spirits

Finally, you have to stay in a positive mindset in the midst of a layoff. I could have been mad about losing my job, but I took it in stride. After all, fuming about losing my job wasn’t going to change anything.

I took the approach that everything happens for a reason and trusted something better was on its way.

I also made a point to exercise a lot during this time as well since exercising releases endorphins and makes you feel good. It helped too! It helped me get through some tough days where I was feeling lazy. Just 30 minutes of lifting weights helped to get me motivated for the day.

Read More: How We Got Through 5 Months of Unemployment

Final Thoughts

Dealing with a layoff is tough, but you can get through it. The catch is you have to plan ahead for the emergency by saving money and then be smart should the layoff actually happen by being structured and keeping to a schedule.

If you can do these things and stay in a positive frame of mind, the stress of the situation won’t be as debilitating at it can be.

More Unemployment Resources

Schwab Investor Card $100 Sign Up Bonus

Posted by Madison on August 19, 2016

If you took advantage of the Schwab Checking and Brokerage $100 Sign Up Bonus, you may be interested in the Schwab credit card. The Schwab Investor Card from American Express earns a flat 1.5% cash back and comes with a $100 sign up bonus. The catch is that you need to have a Schwab brokerage […]

Continue reading…

6 Things to Consider Before Moving

Posted by Kristen on August 18, 2016

Choosing a place to live is daunting. I’ll be relocating with my husband soon, and trying to come up with where we are heading next is overwhelming. There are many reasons you might be considering a move to a different city, state, or even country. Looking for a change of scenery, more job opportunities, wanting […]

Continue reading…

7 Truths About Real Estate Investing

Posted by Don on August 16, 2016

Back in the early 2000s investing in real estate was the sure path to wealth. Then the bubble burst. A few years later, you started to see books and hear infomercials telling you how real estate was the path to wealth. While investing in real estate is a path to wealth, it is not the […]

Continue reading…

Amazon $10 Promo Code with a $50 Gift Card Purchase

Posted by Madison on August 12, 2016

It’s back! Amazon is giving out $10 promo codes again when you buy an Amazon Gift Card for someone. You’ll have to hurry… this one expires tomorrow! Like most Amazon offers, it is targeted, so you’ll have to see if you qualify first: Amazon Gift Card offer. If you do, it’s an easy way to […]

Continue reading…

How to Estimate Your Portfolio Performance

Posted by Don on August 11, 2016

When it comes to your investments, do you know what your return is? Many people rely on the annual return of the mutual fund itself, assuming this is their return as well. But this is not the case. Your individual return varies based on when you bought the investment as well as if you have […]

Continue reading…

Skip These Expenses to Cut Your Spending

Posted by Don on August 9, 2016

When you look at your budget, how many of your expenses are reoccurring? Most of them tend to be. You always go shopping for groceries, and you always have that car payment. How great would it be to skip out on some of these expenses from time to time? Obviously there are some expenses you […]

Continue reading…

US Bank 20,000+ Rio Olympic Point Sign Up Bonus

Posted by Madison on August 5, 2016

I held off on US Bank applications during our last $4,500 Credit Card Application Spree because I knew the Olympics were coming up. Just like clockwork the US Bank Flexperks sign up is back with an additional bonus based on the medal count. The standard sign up bonus is 20,000 points. Four years ago, I […]

Continue reading…

Save Money with Roadside Assistance from a Credit Card

Posted by Madison on August 4, 2016

A couple weeks ago one of our cars broke down. My husband called me at home and asked if we had roadside assistance. He implied that one of the zillion credit cards we have should have it as a benefit. He was right, but it’s in that long section of credit card benefits I usually […]

Continue reading…

A Quick Guide to Successful Investing

Posted by Don on August 2, 2016

Do you want to be a successful investor? Do you want to know how to earn a decent return and grow your money? We all want this but many of us have a hard time investing successfully. How do we do this? Is there a secret that we are missing? The truth is that investing […]

Continue reading…