Chima and Chioma Anuoku have 3 children aged 14 , 12 and 7 . Chioma is expecting their 4th child . The pregnancy has been somewhat painful, and she has had to give up her job .
Chima is a manager in a bank . He is well paid , but their costs of living are extremely high ; they live in a three -bedroom apartment in Lekki Phase I and their children ’s school bills runs into millions of naira each year .
Chima’s family is dependent on his income , which is already stretched as he also assists his extended family; his parents and two siblings . So , you can imagine the shock when he got to work some weeks ago to find that he had been asked to resign. He never saw this coming !
For the next two weeks , Bode got dressed and left home every day to go anywhere . He was too embarrassed and uncomposed to tell Chioma that they would have to move from this apartment as rent was due, the brand new jeep he had leased would be repossessed as he couldn ’t keep up with the monthly payments , and the children would have to changed their school . Chima lived from month to month and had no savings or investments .
Nowadays, the term “job security ” has become obsolete and long- term employment is not guaranteed . But even if you failed to plan for this sudden change in your circumstances , here are some steps to take.
1.Try to remain positive
Aside from the financial issues associated with job loss , there are emotional aspects that are often ignored . Whether yours was the only position that was cut , or an entire unit or department , the feelings caused by being laid off are largely the same , regardless of the situations. Many people experience a loss of self -esteem and a sense of failure , after retrenchment . It is important to take your next steps based on clear thought ; devoid of emotion. Try to remain calm , and do not rush into any major decisions while you assess your situation;
2.What are your entitlements ?
If you are fortunate to receive severance pay , use this as a bridge to tide you over the hard period. Spend carefully , and do not use all of your entitlements to make huge payments , such as to pay rent or your mortgage , as you might have to live off that money for an extended period of time . Don ’t let such funds pushed you into complacent

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