Facing Unemployment: Tips for Coping & Building Future Job Success

While things might seem particularly difficult now, there are steps you can take to make times of uncertainty more manageable.

4 min read

If you’re struggling with unemployment, you may be feeling discouraged, angry, scared, or all of the above. That’s completely understandable, particularly given the current state of the world. But know this: N26 is committed to help you manage your mental and financial wellbeing while you’re going through challenging times. Our mission is to empower you with the right tools and knowledge you need to help you through your financial journey — through the good times and the not-so-good times. 

While things might seem particularly difficult now, there are steps you can take today to make times of uncertainty more manageable. Here are a few things you should keep in mind while navigating unemployment. 

How to cope with unemployment

First of all, take a deep breath. Know that you are far from alone. The U.S. unemployment rate hit 14.7 percent in April 2020 — that’s 1 in 7 Americans out of work. Losing your job can be especially stressful for your mental and financial wellbeing. But there are things that you can do now to set yourself up for better days ahead.

Tip 1: Prioritize your mental health

Caring for your mental and physical health should be a foremost priority in life, and that’s especially true right now. Take stock of what you need to make yourself feel taken care of, and start carving out some time to prioritize it. 

  • Meditation is proven to alleviate anxiety and depression in 60% of people. Start small with five minutes per day if you can.

  • Exercise helps you blow off steam and reduces stress, home workouts can be just as beneficial as the gym, and there are many free or inexpensive apps and resources there for you when you need them. 

  • Sleep is one of the best ways to stay healthy, and it’s completely free. Sticking to a regular bedtime can help level out your mood, and getting enough rest will certainly pay off in the long run.

Tip 2: Protect your financial health

Apply for unemployment to receive financial aid from the U.S. government. To do so, you must submit a claim with the unemployment program in the states where you’ve worked (search “unemployment” + “state name” to find the website). You’ll need specific information, such as the addresses and dates of your former employment. In most cases, you can file a claim online and can expect your first benefit check to arrive within two to three weeks. Here are a few important terms to know:

  • Benefit: The amount of money paid to an unemployed or partially employed worker.

  • Claim: Your application for unemployment benefits.

  • Claimant: The person who applies for unemployment benefits.

  • Unemployment: Any week in which you perform no services and receive no wages, or work less than full-time and the amount of money you receive that week is less than your weekly benefit amount.

  • Weekly Benefit Amount (WBA): The amount a person receives in compensation for a week of unemployment.

Tip 3: Manage stress with N26 Perks partner Headspace

Help keep your mind in balance with the mindfulness and meditation app Headspace. Enjoy 8% cashback on your monthly Headspace subscription when you pay with your N26 card — it’s just one of the exclusive discounts you’ll have access to with N26.

Create future job opportunities by taking action now

Set yourself up for success tomorrow by making the most of your time while you’re unemployed: 

  • Update your resume.

  • Research job openings.

  • Freshen up on skills (or learn new ones) that employers are looking for today, like photography, coding, and design.

  • Look for freelance gigs or part-time work.

  • Build your professional presence online by updating your profile on sites like LinkedIn, Indeed, and CareerBuilder. Make sure your information is consistent across all of them.

  • Connect with professionals in your industry to grow your network and create the relationships that might lead to opportunities. 

You can count on N26

It’s been a rough year, and we know that you may be facing some financial changes.N26 is here to help you manage your money during these stressful times:

By helping you save. Put money aside  and track your progress with Spaces, personalized goals that make it easy to visualize your financial dreams.

 By helping you budget. See exactly where your money is going and stay on top of your spending habits with N26 spending statistics.

 By having no hidden fees. Experience truly transparent banking that is fast and flexible. Say goodbye to hidden fees.

You have the power to chart your journey and take control of your finances with N26. Get the right support that fits your unique goals—and give yourself a better financial future.

The N26 account is offered by Axos Bank®, Member FDIC. N26 Inc. is a service provider of Axos Bank. All deposit accounts of the same ownership and/or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546. All deposit accounts through Axos Bank brands are not separately insured by the FDIC from other deposit accounts held with the same ownership and/or vesting at Axos Bank. The N26 Visa® Debit Card is issued by Axos Bank pursuant to a license by Visa U.S.A. Inc. The N26 Visa Debit Card may be used everywhere Visa debit cards are accepted.

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