The workforce has changed dramatically. These days, companies are downsizing, merging, folding up or simply cutting costs.

Even white-collar professionals who thought their lives were secure through retirement are now feeling vulnerable and stressed. 

There is serious pressure everywhere because every company is struggling to keep its head afloat in the business world. 

Experienced people are losing their jobs under rapidly shifting circumstances.

Those who are still in the game are losing sleep; they wonder if they would be next. 

With the laying off of so many workers and the huge economic meltdown, comes the incessant need to cut unnecessary costs and to manage finances wisely.
Things are getting tougher by the day with the hike in prices of goods and services. These are circumstances that can lead to negative attitudes and emotional stress.

It won’t be a surprise if most patients who visit the clinic at this difficult time are battling high blood pressure and migraines.

Many people have practically abandoned things that never really added value to their lives; money is now being spent only on important and valuable things.  

Some parents are even considering changing the school’s of their children because the fees are too expensive and they can no longer afford to live extravagantly. Summer trips abroad have also being reduced so as to give way to relevant needs. Spa treatments and spending sprees are taking back benches too.

A lot of business owners are groaning under the pressure too because many people spend 50% of their money on food and the remaining goes to other basic needs. 

Consumers are simply trying to reduce their spending speed in order to save money and conserve their resources. Everyone’s priority now is food and survival for as long as it takes.
Graduates are looming in every corner with no jobs in sight. They are unemployed and frustrated. They have been forced to depend on their parents for survival because they have no other choice.


What’s the plan B now that your future isn’t as bright as before? What are you going to do to make sure you don’t go bankrupt?

1. Tell some family members and close friends:

This should be the first thing to do; inform your family and some close friends about the situation on ground. I know it is easier to lie and hide the truth from your family but for how long would you deceive them before the truth comes out? Just go ahead and tell them; it may come as a shock to them at first but they’ll get used to it soon.

2. Adapt to the changes:

With the loss of your job comes some drastic changes in your daily routine. Your wake –up time and breakfast time would probably change. Don’t be surprised if you find yourself suddenly bored and lonely because of the drastic change in your daily activities. The things that used to occupy your day are no longer there and you will find yourself having too much time to yourself. Learn to accept and adapt to the changes at hand.

3. Change your priorities:

Your priorities would be the next in line to experience a complete makeover. All the things you used to spend your money on would have to be analysed and well organised. Eliminate all the unnecessary expenditure; cut costs as much as possible. Basic needs would have to be attended to first before any other frivolities.

4. Invest some of your money:

If you’ve been laid off, there is a possibility you’ve been paid off as well. Whatever the amount is, endeavour to make some wise investments with some of the cash. Inquire from friends and legal advisers about the right investment choice to make; if you have more than one investment to choose from, evaluate all of them and choose wisely.

5. Open a joint account:

If you haven’t opened this before, now is the time to do so. Most times, we have so many demands to meet that we don’t even know how we spend our money. To avoid the risk of exhausting all your cash before you get another steady source of income, open a joint account for your wife and kids. 

This account will be specifically for their basic needs like feeding and school fees. Decide on the amount that would be sufficient for them monthly and deposit it into the account. By doing this, the burden of school fees and feeding will be lifted off your shoulders for a while.

6. Incorporate a budget list:

Draft a monthly budget list as soon as possible. Write down your necessary needs and allocate the amount of money to be spent on them monthly, sum it up and work with it strictly. Don’t forget to add miscellaneous in the case of any emergency that could come up. Do this every month to track how you spend money and what needs to be cut off from your budget.

 7. Relocate if necessary:

Housing might become a challenge at this time if you’re still paying rent to a landlord. Compare the standard of living across several cities to check the possibility of relocating. If you have a house elsewhere consider relocating there or simply rent out the apartment.

8. Brainstorm, brainstorm, brainstorm:

If you decide to relocate or hibernate for a while, set aside a quiet time to meditate. Clear your head of all your worries and just think of possible solutions to your predicament. 
Think of ways to get another source of income and to improve your living standards. Ask yourself “what’s my plan B? Be patient, the answer will come.

9. Maintain a positive attitude:

Even in all this stress, try to maintain a positive attitude in everything you do. Refrain from transferring your aggression on others especially your family. Watch out for bad habits like excessive drinking, smoking or pornography. It is very easy to fall into habits that can numb our pain even for just a moment. 

Instead of investing your time and energy in harmful activities, look for uplifting activities to incorporate into your daily schedule. Read motivational books, watch motivational/educative videos, listen to inspirational songs and fill your life with people who can add immense value to you.

10. Create your own happiness:

Losing your job isn’t the end of the road. In fact, a new chapter has just been opened in your life; make use of this opportunity to restructure your life. Fill your day with things that will bring you insurmountable joy, eat healthily and rest as much as possible. Just be happy even in your difficulty.

11. Start up a lucrative business or find another job:

After brainstorming for a while, put your thoughts into action. If starting a business would be a better option for you, look for a lucrative one to indulge in. If you would prefer to dive back into white collar jobs, develop your skills, send out your CVs until you find something worthwhile. If you can manage a job and a business together, go for it. It won’t be a bad idea having multiple sources of income.

Don’t  sit around worrying about anything. If you’re going to think at all, think about all the good moments you’ve enjoyed, think of solutions to your problems and brainstorm for business or investment ideas. 

Some things happen to us for a reason; don’t over think, just act positively. There is more to life than worrying about problems when you can do something to change it. be patient, things will get better!!

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