(Disclosure: this is a collaborative/contributing post.)
2020... strange times, to put it mildly. This year, I've given a lot of talks on how to manage your money in a crisis, which to me, applies to losing a job during covid or through any difficult time.
After all, you don’t need to worry about money on top of whatever other difficulties you may be facing. Here are some additional advice that can help you through a few different situations...
Illness and Injury
Illness and injury can come hand in hand with financial issues and financial difficulties. Illness and injury may mean medical treatment, which can often come at a high price. You may find yourself struggling to keep up with medical bills and expenses, which are essential for a full recovery and good quality of life. You may also find that you are unable to work due to illness or injury, in which case, you may not be able to generate an income or may be operating on a reduced income. A combination of these factors can quickly sink someone into debt.
If you have experienced illness or injury that was the result of someone else’s wrongdoings, it’s absolutely essential that you create a legal case and seek compensation. This could cover your medical costs as well as your loss of earnings, which will ensure you can pay your bills and take sufficient time off work to recover properly. Contact the right lawyer for your individual needs, for example, if you're seeking justice for a specific health problem caused by taking the drug Zantac, a Zantac lawyer will be more effective than a lawyer who takes on a variety of cases.
If you lose your job for any reason, whether that’s being fired, laid off or you find a certain workplace simply isn’t suitable for you, you may find that there’s a period between jobs where you’re not generating an income. If you don't have savings set up, you may want to apply for new positions as soon as possible. You may also try to minimize bills. These small steps can help to make your money last longer until you find a new position and get paid.