Being fired or laid off is demoralizing. Your self-confidence may be very low at the moment. Remember that you're not the first person and won't be the last one to go through this traumatic experience. In today's changing economy, thousands of professionals lose their jobs every year. Even if you were terminated with just cause, don't lose heart. Try to keep your confidence up. Your positive attitude will be a key element in helping you get your next job.

Severance and Unemployment Compensation

A thorough job search could take months, so be sure to negotiate a reasonable severance package, if possible. Make sure you know what benefits, particularly health, you still have. Also, register for unemployment compensation immediately. Look in the government listings in your telephone directory to find out where your local unemployment office is. Don't be surprised to find other professionals collecting unemployment compensation — it's for everyone who has lost her job.

Follow a Plan

Don't start your job search with a flurry of unplanned activity. Start by choosing a strategy and working out a plan. Now is not the time for major changes in your life. If possible, remain in the same career and in the same geographical location, at least until you've been working again for a while. On the other hand, if there aren't jobs available in your field, you may consider making a change now. If you had planned to make a career change prior to losing your job, you could also consider doing it now. Don't, though, make a change in the heat of the moment.

Expect the Inevitable Question

Avoid mentioning you were fired when arranging interviews, but be prepared for the question “Why were you fired?” during an interview. Be honest, but try to detail the reason as favorably as possible and portray what you've learned from your mistakes. If you're confident one of your past managers will give you a good reference, tell the interviewer to contact that person. Don't speak negatively about your past employer. The person with whom you are interviewing is more likely to identify with him and doing this will reflect poorly on you. Try not to sound particularly worried about being unemployed. If you were laid off as a result of downsizing, briefly explain this, being sure to reinforce that your job loss was not due to performance.

Finally, don't spend too much time reflecting on why you were let go or how you might have avoided it. Do try to look at the situation honestly, and if you think you made some mistakes along the way, plan to find ways not to repeat them. Think positively, look to the future, and be sure to follow a careful plan during your job search.

Planning Your Finances

In addition to being stressful, looking for a new job can be costly. Expenses relating to your job search, in addition to everyday living expenses, can mount to a formidable sum in the face of a reduced income. Following are some guidelines to help you make this aspect of your job search somewhat smoother.

• Find out about your company's severance pay policy.

• File for unemployment benefits.

• Extend your health insurance.

• Find out if your company offers outplacement services.

• Assess your financial fitness.

• Make a detailed list of your income and assets, including income from part-time, temporary, and freelance work, unemployment insurance, severance pay, savings, investments, spouse's income, and alimony.

• If you can't meet your expenses, ask your creditors for a reduced payment schedule. Establish a realistic budget and monitor it regularly.

You may not think about your monthly expenses until you suffer a financial hit, like job loss. If you lose your job, make a detailed list of your expenses, separating them into three categories: priority one, priority two, and priority three. Priority one expenses should include the essentials: rent/mortgage, utilities, groceries, car payments, and job-search expenses. Priority two and three expenses should include items that can be sacrificed temporarily. Total your estimated expenses in each category.