4 Things To Avoid When You've Just Lost Your Job

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Life happens to everyone sometimes. You can be working today and get fired tomorrow. It’s a very painful experience to lose your job unexpectedly.

Once this happens, it goes along with a lot of psychological turmoil and embarrassment especially when you are in a neighborhood where you are known to leave for work early in the morning.

But right now, your neighbors see you at home and wonder what you are doing around. It’s a lot easier when you are single, not compared to when you have a family with kids.

The pressure begins to mount up, how do you now pay your rent, your children's school fees and take care of the home when no steady income is in view.

When you are in this state of confusion, you can take crazy actions that may eat into your finance and make you broke.

This article or story presents a list of things you must not do when you are in the turmoil of losing your job.

Investing In Forex

As enticing as it may sound getting a broker, putting some funds and trading from your computer or mobile device with the potential of turning $100 to thousands of dollars, don’t do it.

While it’s partially possible or true to turn small amounts of money into big ones trading forex, it’s a very risky business and can be likened to institutional gambling or betting of the performance of economies or commodities.

From my personal experience, I’ve lost a lot of money trading forex with the hope of being a millionaire. Instead, I lost my hard-earned money and made my broker rich while I was left “broker”.

There’s a lot I like to say about these but I will leave this subject for another article.

Allowing Yourself To Be Scammed

There’s a lot of desperation whenever you lose a job. It makes one desperate and open to all business suggestions that have the potential of turning small amounts of money into large ones.

I noticed that this period a lot of bad things that can dry you up financially are thrown in one’s way. It’s like the universe wants to rob you of your savings. You start getting strange emails or running into scammers online.

This happened to me, I met a scammer on Instagram that promised that if I invested $200 I can make $3000 weekly mining bitcoin. Because of my desperation and financial constrain, I fell into the trap.

I got his contact, and we started exchanging messages on WhatsApp. I was a bit reluctant, but he kept pressuring me to send the $200. He sent me his bitcoin address and I foolishly forwarded it to him. He then instructed me to register on a quack or fake website that I’ll see my investment grow.

After a week this scammer moved all the money he had scammed from others including me out of his bitcoin wallet, took down his fake Instagram account, and blocked me on WhatsApp.

Patronizing Hookers

When you lose your job as a single man that lives alone, most times it’s customary to fall into some sort of depression.

This leads you to a constant customer that patronize’s call girls or hookers to fill that void of dejection. But here’s the reality, each hooker you sleep with cost money and in time your account will bleed.

This is also not a period to look for a girlfriend because they cost money too and men usually do crazy things for women which include burning cash.

Spending Carelessly

When you just lost your job, reduce your spending spree. Though I most not that spending money on yourself is a lot than losing thousands of dollars in a day trading forex.