It can be a bitter pill to swallow but in these uncertain times, individuals should be prepared for anything. Pink slips have become commonplace but it can pinch hard if you happen to be in a foreign country like the US or Canada. On top of that, you happen to be there on a temporary visa. Also, it can get nightmarish if you happen to be in the country with your family as well. Now, can it get any worse? Hence, today we will focus on how to deal with such an unfortunate situation.
Do Not Even Think Of Staying Illegally
First things first, you need to find a new job that too in quick time. Given the circumstances globally finding a job can be anything but easy. Assuming that you are unsuccessful in finding a job, then it is in your best interest to return to India. You should not even think of staying illegally over there as it might affect your future residency in the country. So, you should ideally come back and look for new possibilities in a foreign country from your homeland and return overseas legally.
Try To Grab A Job Anywhere Else
It can be really harsh on the individual who is back to square one after getting a decent enough opportunity abroad. But the person needs to move on and find a job quickly in his home country, even if temporarily, to meet his and his family members’ routine expenses. It is not advisable to wait for a job abroad and remain idle in your home country. This can adversely affect your financial situation and mental state of affairs if the wait turns longer. So, try to get a satisfactory job at hand first and then make efforts to realise the bigger dream of settling down abroad.
Liquidate Assets, If Need Be
In the scenario where you have lost your job in a foreign country, you are bound to face a cash crunch. So, in such circumstances, if you have any physical assets like a flat or a piece of land, then it is better to dispose of the same and secure some hard cash. It is very tough to do as there might be an emotional connection with these physical assets. But, you need to be practical under the circumstances and strive to find solutions for your current problems.
Manage Your Finance Smartly
Money becomes very precious in trying times, especially when you have returned to your homeland after losing a good job in a foreign country. So, you should avoid all kinds of unnecessary expenses and spend smartly. Also, never borrow money from other sources like friends or financial institutions as these can easily become a severe headache later on. Ideally, you should look to live within your means till your life get back to normalcy, and, as said previously, liquidate your assets without hesitation if there is an urgent need for cash.
All the things mentioned above are easier said than done, but do you have a choice? So, be pragmatic in such a scenario and do whatever it takes to protect yourself and your family. Life has not been fair to anyone, and fortunes will eventually turn in your favour. Hence, you need to be smart, and brave till then.