How to Cope with Unemployment

If you recently became unemployed, you are probably concerned about your personal finances and career. Unemployment brings forth many emotions. It is wise to step right into action and save yourself from distress. Take the following steps to keep your finances in order:

1. Examine your financial resources and figure out how long they will last.
2. Find out if you qualify for government unemployment benefits.
3. If your employer covers your health benefits, find out how to maintain them. You will probably be able to purchase benefits through COBRA (The Consolidated Omnibus Budget Reconciliation Act). The Health Insurance Portability and Accountability Act (HIPAA) also gives you the right to health insurance if you lose your job. It grants you the right to purchase insurance on your own, if you do not find employment before your group policy with your former employer expires and in other cases.
4. Start working on gaining more skills or improving the ones you have. Work on career enhancement. Find out what skills are valuable to employers. This can definitely make you more marketable.
5. Determine if a career transition is a good idea. You may want to move on to a more stable field, if layoffs are an issue in your area. Therefore, find out the kind of job you would like. You may need to consult a professional for advice.
6. Update your resume and start looking for a new job, especially if your resources will not last long. You might not have the luxury of finding the perfect career choice for yourself in the face of desperation. Think about your personal finances and make an educated decision.