Want to retain your financial muscle after losing a job? Here's how

FINANCIAL TIP

Want to remain financially sound after losing a job? Get your finances in order. Start by adjusting your lifestyle; align it to your new financial reality. If you are renting, look for cheaper accommodation.

Examine your lifestyle choices, such as the clothes you wear, the car you drive, where you shop and what schools your children attend.

Secondly, consider all the options that you can pursue to earn a living. Identify potential employers who could be interested in your skill set and work experience.

Thirdly, expand your social network. Make time to build constructive networks beyond your immediate family and former work colleagues.

Building social networks at places of worship, professional bodies and charitable organisations, such as rotary can pay off. You can also reach out to your former schoolmates. These people can open doors for you.

You can also speak to people who have gone through a similar situation. Their experiences will provide useful tips on how you can reinvent yourself.