I was lucky to find a job right out of college! 

I remember going to a lot of career fairs talking to the company representatives and trying to land that first full-time job.

I remember getting the initial offer and negotiating my salary at 22! I didn’t ask for a lot more money than what they offered but I knew that I had done 2 internships and at my part time job was a closing manager.

Talk about some courage! 

 I started work learning my new job and putting in the time and effort. I kept my part time job I had in college at a grocery store just to save more money to move out.  Yes, those were some long days but so glad that I did. 

Why might you ask was I working two jobs?  Well 6 months after being at my full-time job I got LAID OFF… That was a tough pill to swallow. This was my first job loss.

I asked myself and my boss what did I do wrong?

Is there another position I can go to? 

My boss said that it was nothing I did but they needed to cut position across the board due to budget cuts and since I was the low man on the team out the door I went.  I was so glad to have my second job and still living at home so I went right there after leaving work and asked if they could give me 40 hours per week, which they did, and I could breathe a sigh of relief. 

I was able to find another full-time job 2 months later and kept that second job for awhile longer.

I realized that you need to be strong in a tough situation and always have a backup plan.  That second job provided me the income I need to pay my everyday bills. 

Will I lose my job in 2023?

That is a million-dollar question!  There are a lot of headlines in the news about economic slowdown, unstable economy, companies laying off folks, and uncertain times.  It’s also unclear how long or how severe it could be.

Here is an article from Bank of America talking about job loss in 2023.  https://www.yahoo.com/video/bofa-warns-us-economy-start-170000414.html

Are jobs 100% stable? In my opinion they are not but you can ensure yourself some relief be being prepared and not scared.

How to Prepare if you do lose your job

• Prioritize your emergency fund: Start or increase your emergency fund account with at least six to twelve months’ worth of living expenses is an important cushion against being laid off. Having that money in an accessible will give you time to look for a new job, without having to take on debt.
• Second Job/Side Hustle: It’s much easier to have one or get one now while times are good than when you’re dealing with a job loss. In today’s technological world so many more ways to earn money from your phone or computer than ever before.

• Network: Keep these connections with former co-workers, classmates, or online community.  Using resources like LinkedIn or other professional networks will help you stay connected. There’s no harm in reaching out to people now to see how they are doing. It could make it easier to ask for help further down the line.
• Continuing education: If you want to advance your career, don’t stop learning. A professional can never have too many skills and can never stay too close to the cutting edge of workplace changes. Keep honing your expertise, building new skills, and take on new projects.

Bottom line

We never know what is around the corner with our job but being prepared and not scared will help you in your journey.  A job loss can be scary because of uncertainty of where my money is going to come from. Remember to look at your company’s information about its finances, growth, and ask questions.  That first lay off experience I had has given me the drive to ensure that my saving account it funded, getting a side hustle, and not accumulating debt. 

I’d love to hear your thoughts. Leave a comment below and tell me other ways to prepare.