Losing your job can be devastating. Some people get so affected that they end up slowly slipping into depression. While job loss alone can be depressing, imagine what it would feel like losing your job when you are expecting a child. Sadly, this is the reality for many people today. If you have just lost your job and are expecting a child, this article is for you. Despite the hardship you are likely to face, there are still ways you can cope with the loss of a job as you await your child’s arrival.
Find a Support System
The coming of a baby is supposed to be a time of joy. However, when job loss occurs, it can bring extra stress for both parents. This would be an excellent time to meet up with friends and talk about what you are going through. For women and men alike, discussion boards that revolve around job loss issues can be life-changing as you will get the chance to interact with people who have or are going through the same. Remember to take care of yourself too because you can get lost in the job-finding process and forget to rest adequately.
Ask for Help Finding a Job
A job loss during a critical time like expecting a child can be traumatic because of all the needs in waiting. You will get affected, especially if you did not have enough savings to last you through the pregnancy and after the child is born. If this is your case, it will not hurt to get the word out that you are searching for a job. You can email your contacts and explain your situation. Ensure that you reach out to as many people as possible, which increases your chances of getting a job. The sooner you get a job, the faster your chances of catching up financially and having your baby without feeling strained.
File for Personal Bankruptcy
Sometimes, the job loss can go for an extended period, and you will find yourself stuck in a cycle of debt that is unpayable. In many cases, people think that they cannot do anything about such a situation. However, it is possible to get a fresh start by filing for personal bankruptcy. This bankruptcy explanation is viable and can help you start anew, even when you think you have no chances. Personal bankruptcy enables you to rebuild your credit so that you can have a healthy financial future. If you are expecting a child, have lost your job, and the debts are piling up uncontrollably, then this will be your chance to start again. Notice that most debts will be eliminated except court fines, child support, and alimony. With this arrangement, you can also keep your home even if you are still paying a mortgage. You will be safe from harassment by debtors, and legally, they will not be allowed to collect debts. In this way, you and your partner will be protected from these stressful situations.
Use Your Skills
To go into the job market, you must have a certain level and education and, in most cases, some skills. If your skills are transferable, you can start a business online or set up a company to help you bring in income when you are unemployed. Look up business ideas online because businesses can start with little upfront costs, and you will still make some money at home. For instance, you can start selling products on platforms such as eBay, Etsy, or Amazon. Most of these sites charge small to no fees for listing, and others charge a small fee once a sale is made.
Update Your Health Insurance
If you have not yet applied for health insurance, you can opt for public health insurance. With it, you will be exempted from paying for most services you will receive at the health center. The Canadian Universal healthcare system is catered for by taxes, so all you have to do is produce the care when you need to access a service. Check-in your territory or province what the plan covers so that you are adequately prepared. You may need to get extra health insurance, but ensuring that you have the basic health insurance is an excellent place to start if you are out of work, and you did not have a concrete plan.
Live within Your Means
If you are pregnant or expecting a child and lose your job, you may have to downgrade so that you live within your means. For instance, you can move from the city to the suburbs to reduce rent or expenses. Also, you can take steps such as cooking to avoid spending on restaurants and takeout. Apart from reducing your spending, you will even be eating healthy, homemade meals.
Losing your job while expecting a child is life-altering and stressful. However, with these tips, you can safely navigate through this tough period. However, do not forget to practice financial vigilance so that you are prepared for any eventuality.