5 Upsides to Losing Your Job


Being let go can be scary. Instead of focusing on the negative, you can turn your situation around by looking for the silver lining while staying on track financially.

You may need some time to accept it, but when you are ready to move on and make the best of a bad situation, here’s how to refocus and make what may seem like a setback into a personal and professional win.

1. You Can Update Your Network, Résumé & Goals

With your career on your mind and no need to go into the office, you can take the time to really think about your long-term work, financial and personal goals. But don’t let yourself stay inside contemplating too long. Properly update your résumé. Then attend local networking events, lectures or even volunteer activities to meet new people. You can also schedule informational interviews with companies to get a feel of who is hiring, what direction several companies are going in and what type of employee they are looking for.

2. Explore New Opportunities

Has your career strayed from what you originally wanted? Did you “miss” your chance at further education? Have you been dreaming about a career switch on the commute? This is your chance to re-evaluate the path you are on and either remember why you love your field or try something new.

3. New Company or Boss

No matter how secure or happy you felt at your old job, there must have been some aspects you did not like or thrive under. Working for a new employer or company can give you the opportunity to see how different businesses operate, expose you to new co-workers and provide a new position to show your creativity and abilities.

4. Ability to Redefine Your Terms

As you search for your next position, you can take aspects that you like about your old position or company and negotiate to change the parts that did not work for you. In addition to salary, you can discuss work hours, vacation time, 401(k) plan, insurance coverage and the company culture.

5. Opportunity to Relax

While it may seem stressful when you have lost your job, you can use your time to take some quiet moments. Prioritize yourself and consider what will genuinely make you happy, both in your career and outside of it. If you have wanted to travel but couldn’t because of work, look into booking that trip. If you have been craving a more creative path, take some classes or start writing and creating while you can. Even if you just need a break, try tweaking your budget accordingly and take it.

If you are struggling to accept your layoff, remember that your attitude makes a big difference on the effect it will have. The more positively you can spin the situation, the more positive the next phase of your life and career will be.

More from Credit.com

How to Save Big Without Feeling Deprived5 Habits of Successful Savers & InvestorsA Simple Checklist to Get Out of DebtHow Many Tax Brackets Are There?

This article originally appeared on Credit.com.

AJ Smith is an award-winning journalist with more than a decade of experience in television, radio, newspapers, magazines and online content. She currently serves as the managing editor for SmartAsset. AJ has a passion for meeting new people, sharing stories and helping others. She has degrees from Princeton University and Mississippi State University. AJ and her husband also write and illustrate educational children’s books. More by AJ Smith