Guest Post,  Millennial Money,  Money Management

From Homeowner to Unemployed by New Year – Five Ways To Rebound Stronger

The Chronicles of the Formerly Unemployed By Alainta Alcin, Financial Blogger and Podcaster

How It Started

As world leaders silently prepared to pull the plug in March 2020, I was riding high. I just started working for a healthcare company and everything was looking better than in 2019.

A packed calendar with non-stop activities. I was even considering starting my YouTube channel. With that familiar New Year’s energy, I was excited to jump-start a new position.

Looking back, the writing was on the wall. It was too good. There were so many red flags. I sensible ignored every one of them due to a hard-earned salary increase.

After 2 months of chaos and bad company management, I was already looking for new employment.

High Energy and High Spirits

While working from home was a new experience for most people, I was already an expert.

Insecurity was up and the government ran by tweets, I choose to stay in high spirits. So much so,  I started pursuing home ownership. I closed on my home on November 13, 2020. The same week graduated with my Masters in Healthcare Administration. No matter how hard 2020 was; I was walking away with a higher-level degree, a boyfriend, a new cat, and a new home.

Effective Immediately” – You are Unemployed Now?

Unbeknownst to me, the sense of accomplishment and plans for holiday celebrations soon went away. In December 2020, my manager called and informed me, “Effective immediately, your employment is being terminated.” 

Pause for a second, it really happened.

I was laid off. Many thoughts came to my mind, but the main thing was how am I going to pay my mortgage. Do I have enough savings to cover my expenses?

I was afraid and scared.

Recovering from Fear and the Unemployed Stigma

I recalled staring at the computer for a while. Once the initial shock went away, I surprisingly felt relieved. There is a feeling of helplessness that can really grip you and take you under. I took a deep breath.

It’s going to be okay, you’re alright

Life was being unfair and unkind again

If I learned anything from my younger years, I know how to persevere.

Life has been unkind and unfair, but I always tend to push through and make it out with grace.

It is called grit.

I have it. More often than not, Grit has taken me to places I’ve never imagined. I taught in Asia for a year and traveled to unseen lands in the Far East. I’ve had countless adventures. This is a small setback, so my comeback would have to be even stronger. Here are five things that I did and that you can use to get you back on track:

1. Remain Positive

I took a REAL introspective look at myself and realized I must give myself grace. It’s easy to start blaming everything under the sun when life hits you hard. However, the pessimist rarely moves forward.

I learn to forgive myself. At the time, I allowed a toxic work environment to have power over me. Like many, I was burnout and dependent. My value was under-appreciated.

The layoff forced me to let go of the anxiety. I took a deep breath and decided to let go of the feeling of failure. In my heart, I knew things would work out for the better. It was in the past and this will be no different.

2. Applied for Unemployment ASAP to help you move away from feeling unemployed

After being laid off, I created an account with the Florida Department of Economic Opportunity (DEO) and registered for unemployment.

The pandemic uncertainty forced a lot of change at the Federal and State level. Florida’s unemployment website, which was highly scrutinized back in March 2020, became more efficient. I applied and received approval within a week.

My unemployment benefits hit the following week via Direct Deposit (DD). DD is always the best option versus snail mail. Initially, I was shocked by how low the benefit payments were, but I was grateful to have some form of income than none.

It is definitely a stopgap measure and every little bit helps.

3. You are Unemployed Now – Review Your Monthly Expenses

Owning a new home was not as expensive as renting in my case; however, with no steady income coming in. I had to make changes to my expenses.

After a thorough review, I decided to pause payments on most of my subscriptions. I switched my auto insurance to a more affordable one. Saving me over $22 a month. By the time I realized it, there was a total savings of $120 per month.

I successfully paid my first mortgage payment in January. Being mindful, I also paid for my February mortgage. I figured it would be better to buy more time with housing security while I hurried to find a new job.

4. Revamped the old Resume

I Bought My 1st Home In November. Laid Off in December. Here are Five Ways To Bounce Back from being unemployed.

The good news I completed my Master’s degree program a month before getting into this mess.

My best friend Holly (https://hollynoon.com/), who is a career coach with an HR background, advised me to update my resume. She provided tips and helped me modify the wording and template. She strategically included keywords in my experience to fit the positions I was applying for.

This was a big help in getting the responses from hiring managers and recruiters sooner. People are still hiring during these times.

Put yourself out there so you don’t stay unemployed for long.

5. Connect with your Network

I Bought My 1st Home In November. Laid Off in December. Here are Five Ways To Bounce Back from being unemployed.

I reached out to my professional contacts and informed them of my employment status.

While it was not easy, I posted on my graduate FB groups and everywhere that I could online. I was so excited and grateful to get leads.

One resulted in an interview the following week. The hiring manager replied to my e-mail after the recommendation from her colleague. I felt rejuvenated. Possibilities still exist.

Social media is a strong resource when used correctly. I was extremely grateful to alumni and friends who were willing to help me in my time of need.

Life beyond being Unemployed – I just started a new position

While I recognize that, your journey might not be as easy as five steps. I really hope this post gives you hope and encouragement. Just remember it is not the end, but a new chapter in your continuous life journey.

“Life will challenge the narrative of who you were, to prepare you for who you need to be”

Alainta Alcin

Your mind is a powerful tool. It can tell you that you can or can tell you that you can’t. Don’t be defeated by a moment and push through. This is your story.

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One Comment

  • Rodnert Thimote

    This article is a great way to bring real life issues to the persoective ofthose imoacted. Great read!!!

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