Corona is causing the layoffs of millions of employees .. How to prepare for the confrontation?

 Laila Ali

The new Corona virus forced thousands of companies to close their doors, causing layoffs and taking long vacations that nobody knows how to get out of.

In an article entitled "Are You Worried About Losing Your Job Due to Corona Virus?" On Standard Media, writer Derek Olush says, "If you are fortunate enough to continue working at the moment, it is good to prepare for the worst. You do not control your business situation but you can control how prepared you are for the future."

David Blaustein, a professor of counseling psychology at Boston American College and author of "The Importance of Work in the Age of Uncertainty," says, "At the moment all economies of the world have similar symptoms, the situation is like a global pandemic of unemployment."

Emotional readiness First
, writer Damien Fuller says in a BBC article that further complicating the matter is the speed with which many suddenly find themselves without work, either that employees are laid off and dismissed entirely, or they are asked to take unpaid leave Unnamed. This is of course a financial challenge for many who suddenly lost their income, and it also represents a psychological challenge, when you lose your job. How can we deal with these feelings?

The main concern of many lies in the unknown surrounding everything, and how long will this last? The longer the current situation, the greater the financial gap. Losing any job is troublesome psychologically, but doing so in the current uncertainty environment is putting additional pressure.

According to Fowler, psychologists point out that losing a job is often equivalent to grief for losing a loved one, from shock and denial, to anger and bargaining, and ultimately acceptance and hope.

Maintaining balance
According to psychologist Adam Benson, studies indicate that people who have experienced financial or work-related difficulties are more likely to have mental health problems; how can one now maintain a balance in this unprecedented situation?

Benson suggests that, generally, after any loss, people should recognize what they can control, what they cannot control, and focus on the first.

He adds that identifying immediate problems, such as the need to reduce family spending for a period, as well as recognizing that matters - in the short term - will be difficult will help to accept some changes until the situation returns to normal. This is in addition to the collective nature of this experience creating a feeling that we are all in this matter together, so do not feel isolated.

An emergency fund As
for the financial preparation for the idea of ​​a possible job loss, or if it has already been lost, writer Katie Brockman - on Fool - says the best way to prepare is by building an emergency fund. It is much easier to allocate some savings when you still have an income, so do your best to create an emergency fund as quickly as possible in the event that you lose your job.

If you are having difficulty getting extra money, make a list of all your expenses and cut out anything unnecessary. Each amount is important, and you may be surprised by how much you can save when making small cuts to several areas of your budget.

According to Brockman, finding extra cash in your budget is only half the equation. It is equally important to make sure that you take advantage of all other resources available to you, and make sure that you spend your money in the right place, and that you benefit from your savings as you see fit, so that you generate a return that you benefit from during these circumstances.

Alternative income source
The writer and editor of "Finder" Kelly Guinan says: "Find an alternative income source. If the Corona pandemic has stopped your main source of income, consider investing some energy in finding a side income. If you have a computer and an internet connection, you will find many options." To explore. "

According to Guinan, if you are looking for a quick cash flow, consider using your skills or interests such as getting paid for freelance journalism writing, working as a teacher via Skype, being a virtual assistant, or selling clothes online.

You can also start a temporary job with companies that require temporary workers at the present time because of the increase in demand for them, especially companies that work electronically to serve the consumer.