My sister unexpectedly lost her job last summer. She was working at the headquarters of a major retailer and was taking in a great income. Now she’s unemployed in one of the toughest markets in her lifetime. According to the Bureau of Labor Statistics the unemployment rate is at 6.7%. Another 533,000 people lost their jobs in November alone. That means there are a lot of people out there like my sister. Here are a few things she’s doing to make the best of this tough time.
1. She’s scheduling doctor’s appointments. Thankfully, my sister’s employer offered good insurance that stayed in tact for several months after her job loss. So before it expired she scheduled lots of doctor’s appointments, routine exams and teeth cleanings. If she ends up buying her own insurance, she probably won’t have the high level of coverage her employer offered.
2. She’s reconnecting with former co-workers. My sister still has many contacts in her industry. She’s been reconnecting with them through e-mail, telephone and social networks like LinkedIn. This is a great way to get a heads up on any job leads.
3. She’s starting an online business. Using some of her savings, she’s starting a new business. While this may seem like a risky move to some, she’s using her extensive knowledge in her industry to develop a new business idea that doesn’t require much start up. It’s something she may never have had the motivation to do if she hadn’t been laid off.
4. She’s looking for other income. She recently went on a trip that was planned before she lost her job. In order to earn some cash to pay for that trip she sold Christmas ornaments on Ebay and made over $200 to offset expenses.
5. She’s shopping wisely. While she never used to care about clipping coupons or shopping sales, she’s now spend more wisely when it comes to groceries. She’s using online coupon websites and looking for rebates.
6. She’s having fun. My sister is making the best of this situation by exercising regularly and making time for things she enjoys. It’s a great way to stay positive and turn a less than ideal circumstance into an opportunity.
Photo Courtesy of Bredgur
