The last few weeks have been very different compared to anything the world has ever seen. I thought it would not impact my life financially – it turns out it will. Read about what steps I’m taking, how I’m coping, and what I’m doing moving forward.
The world has seen some terrible things over the last couple of months.
The economy has taken a significant hit, stock markets are plummeting, and people are losing their jobs.
If you are directly or indirectly affected because of the coronavirus, I recommend that you do these 5 things to maintain your financial health during coronavirus.
What the world saw was first the new coronavirus COVID-19 spreading across China, where it spread quickly. As it came over to other parts of the world, measurements have been taken by the governments to prevent it from spreading.
Result: the majority of people are practicing social distancing, keeping the minimum distance of 1.5 meters (5 feet), and staying at home unless it is absolutely necessary to go out.
WHATEVER YOU DO, STAY HOME
I’m very grateful that I have a home where I feel comfortable, that I can work from home, and that all my friends and family are taking social distancing seriously.
It is not in our nature to be inside the house and not see any people, at least not for me.
It’s not even that I see so many people throughout the week, it’s just that it feels strange.
When you can go outside, you don’t. When you can’t, you want to.
Is my mind the only one going there?
It is so so important that you stay home. It doesn’t matter how uncomfortable you feel, you may infect others and you may make the entire situation worse if you don’t.
The more serious we take this, the sooner it will all be over.
Will I Be Starting My New Job?
Last week I was working on the last reports I had to deliver before I end my current job. On March 31st is my last day.
Under normal circumstances, I would start my new job on April 1st.
We all know that these are not normal circumstances.
As of last week, all the bars, restaurants, and hotels in the Netherlands had to close to prevent the further spreading of the coronavirus.
What would I be doing in my new job?
I will be responsible for the finances of a Dutch hotel chain.. Yeah, great.
I got a phone call last week from my new manager, telling me that they are closing all their hotels directly until April 6th.
The 500 people that are working flexible hours, are currently sitting at home and don’t have any income.
Besides that, they have decided to let all people go that don’t have a permanent contract or people that haven’t started working yet.
They told me, because I have such a key position within the company, they would still like to hire me.
BUT, they don’t know when I’ll be able to start.
It could be on the 1st of May, it could be on the 1st of July. This totally depends on how the virus is spreading and how fast they can reopen the hotels.
They aren’t sure they can open at all. If this takes too long, they will go bankrupt and there will be no job left.
Until we know more, I will have a loss of income.
The best-case scenario would be a 35% loss of income for X months, the worst-case scenario would be no job.
I’m still figuring it all out.
I was looking forward to starting but at the moment I’m considering my options. I’m in the process of looking for another job and trying to figure out what this all means for me personally.
My Mental State of Mind
When I first heard the news, I was straight going into a contraction mindset.
Why didn’t I start earlier at my job, none of this would’ve happened
I should have known this
What will I do when I don’t have any income
Straight after that, I started really feeling down. I always have a hard time admitting my feelings to others (or myself).
First I just cried it out for a couple of minutes, which really helped. It cleared my mind and I felt the panic that had built up over the last hours leave my body.
I started to make an action plan and decided to write down all the options.
When I am in action mode, I feel like I can do something about the situation. That really helps me to cope and to shift my mindset to the positive side.
My different ways of coping with bad news:
- Take a deep breath (as many as you need)
- Feel your feelings
- Think about 3 things you’re grateful for
- Think about the worst case scenario. Is it really that bad? Afterward, think about the best possible outcome and the most likely outcome.
- Ask for support
When You’re Currently Dealing With (Possible) Job Loss
If you’re currently facing possible job loss, think about these things:
- You’re an amazing employee and this situation is beyond your control. Focus on situations that you have control over and try to not get frustrated.
- Behave professionally and don’t react poorly to the person you’re currently communicating with about this issue.
- Start applying for jobs after you’ve coped with the news of your possible job loss. Look on glassdoor.com or indeed.com
- Don’t sell yourself short when you’re looking for a new job. It can be hard to believe in yourself at those times, but it’s important for you to do that anyway.
- Get your finances in order. The last thing you want is to worry about that.
- Cut back on any unnecessary spending.
- Be kind to yourself and treat yourself without breaking the bank. It’s okay to be stressed and it’s okay to worry. Keep yourself healthy emotionally.
- Don’t let this define you! It’s no fun to lose your job, not at all. Please keep in mind: your job does not define you. You are more than your 9-5 and you will come out of this experience stronger.
What is next? Honestly, I don’t know.
I try to deal with the situation as it is now.
Currently, I will not start my new job as of April 1st. That’s the one thing I know.
What month I can start working (if at all) is all up in the air. I am coping with this right now and trying not to let my job define me.
I want to hear from you!
If you have any similar experiences with job loss or insecurities surrounding your job, I would love any advice for me or others going through a similar situation.
Every situation and every person if different, but this is never fun.
If you are going through something similar right now, know that you are not alone.
Did you have any similar experiences with job loss? Any tips for coping or moving forward?