Emotional and Financial Wellness Support
We work with You in these difficult times
Ten-point checklist for managing the financial impact of redundancy
Write down all expenses/fixed costs/outgoings over a 1-month period. (Know how much your lifestyle COSTS every month)
What are you entitled to with the government assisted COVID19 packages and unemployment benefits. (Know your income every month)
Remove any items that are not essential and stretch your expenses too far (E.g. Subscriptions, SKY, Netflix, Coffee out etc) Remember this is only temporary – we are formulating a financial survival plan.
Do you have savings to utilise? After you have calculated any government support income and expenses/outgoings, your savings can assist plugging a gap. For example, If you now receive $400.00 per week and ideally you’ll need $500.00 per week – use $100.00 per week of your saving to close the gap. We understand not everyone has savings – see number five.
We can assist you with a Financial Hardship Withdrawal from your KiwiSaver. We will assist you with the application process including advising how this will affect any future pay-outs.
Speak to your banks and lenders who you owe money to. Ask them what support they offer in these challenging times? Mortgage interest only arrangements, 6-month mortgage holidays, loan repayment holidays. They will want to help you through this period as you are their customer and they would rather plan with you and get their money eventually, rather than not at all.
Start using lists and budget when shopping for groceries – Do not vary from the list! This saves an incredible amount of money.
The meal plans drive the groceries list. Select meals, form lists, shop with discipline!
What next…? Start looking for a new job immediately, this is now your new job - looking for another job! You will get a new job eventually, stay the course, make a time every day to search seek.co.nz. Brush up your resume, stay in touch with your previous employer – they could need you back sooner than you think.
The psychological effects of redundancy
In the immediate aftermath, most people feel an overwhelming sense of loss, anxiety and anger. When emotional trauma is mixed with financial pressures, it can be hard We believe after some initial pain; the NZ economy will bounce back strong! You will get through this!!
Ten-point checklist for managing the psychological impact of redundancy
Take time to breathe
Redundancy will bring negative thoughts associated with uncertainty, fear, and worry. Control these thoughts with controlled breathing – set a timer for 6-second intervals and breathe in for 6-seconds, breathe out for 6-seconds, repeat the cycle for two minutes. Do this exercise two to three times each day.
Get into a ritual
Having a regular pattern to each day keeps us engaged and motivated. Get up, dress up, front up. Our brains love to work so give it something practical to work on, finding a job.
Look at what you have got
Write down your job-related assets: your skills, your knowledge and your experience then form these into an updated CV. This will bring focus on where you might want to head in the next part of your career.
Where do you want to head
List the types of work and roles that you want to do and where you would like to do them. It is better to spend your energy productively on applying for jobs that you really want rather than applying for just any job.
Talk with others
There are two ways to get thoughts out of our head, talking or writing. As we are limited by our own personal experiences when rationalising challenging situations, talking with others expands that experience and brings perspective to our thinking process.
Going for a 15 to 20 minute fast-paced walk each day burns off adrenaline and cortisol, pumps much needed oxygen into our body, and produces endorphins in our brain, all of which makes us more relaxed and focused.
We each need 7 to 9 hours sleep every night. For a free comprehensive document on sleep tips, hit the ‘Contact’ button at warninternational.com
Eat a balanced diet
At times of uncertainty we reach for high energy foods containing fat and sugar. Replace fat with high-protein foods and sugar with fruit and vegetables.
Don’t rush, take your time
“Slow is smooth, smooth is fast”. Slow yourself down to get things exactly right, rushing only causes mistakes and adds to our challenges.
Reach out to others
If you find yourself struggling, reach out for support through our website or if you are truly struggling, call or text 1737. There is great strength in reaching out to others!!