South African Finance Minister Pravin Gordhan might be on the brink of getting 'sacked'. Nobody is sure what is happening an we can only speculate. 

This got us thinking: If you had to lose your job today what would your plan-B be?

Here are some handy tips if you lost your job:

Don't Bad-Mouth Your Former Employer

 Although it’s tempting, resist the urge to talk trash about your former company, Tiggett says. “Regardless of the reason you are no longer working for a company, by focusing on the positive aspects of your previous employer or of your previous job you will come across as someone who is resilient and professional.”
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Don’t: Panic

The initial loss of a job is stressful, and it often makes us lose our clarity and focus on planning the next steps, says Katie Brewer, a certified financial planner with LearnVest Planning Services. But you don’t have to descend into an anxiety spiral. There are always options, and the key is to let yourself have the time and space to determine what those are. You won’t be able to move forward without a clear head and an open mind.

Do: Accept Your Situation

Stave off panic by stepping back and taking stock of your own feelings. "Validate your right to feel miserable," Dr. Robert L. Leahy, author of The Worry Cure, advised on NPR. "You’re a human being. You have a right to feel unhappy." Once you’ve given your emotions space to exist, you can start to see the big picture more clearly, enabling you to act in ways that will help you and your career.

Don’t: Borrow Blindly From Your Retirement Account

When your cash flow begins to dry up, you may be tempted to turn to your retirement account, Brewer says. But you should think twice before cashing out part of your 401(k) or IRA while unemployed. If you do, you could find yourself with the extra burden of taxes on the funds you withdrew (for contributions to retirement funds that are pre-tax) and a 10% penalty if you crack into your nest egg before you’re 59.5 years old. In general, breaking into your retirement savings early could erode 40-50% of the money you take out because of taxes and fees.

Not to mention, if you’re still unemployed when the tax bill comes around for your withdrawals, this could cause yet more problems. Meanwhile, Brewer says that if you choose to file for bankruptcy down the line, your retirement assets are usually one of the few assets you can keep (depending on state rules). Bottom line? Unless these funds are the only thing standing between you and losing everything, try to hold off. After all, that’s what your emergency fund should be for.

Do: Rethink Your Priorities

Once you’ve established a particular standard of living, it can be tough to adjust that downward, but it’s crucial to separate your wants from your needs and make the necessary changes to reflect your new financial reality. Particularly if you’re living off of your emergency fund, you’ll need to think about where you can cut back so you don’t eat through your savings so quickly.

Don’t: Avoid Creditors

Personal pride can often get in the way of asking for help, especially if you’re feeling ashamed, but talking to your creditors right away to explain that you lost your job. Banks and creditors benefit more from "sustainable" customers than they do simply from the assets they collect, a Wells Fargo personal finance representative told us. So they have a vested interest in making sure your life doesn’t spiral out of control, either. The more your lenders know about your circumstances, the more likely they’ll be to help you out.

Some ways creditors can lend a hand? They might be willing to renegotiate your credit terms or freeze your interest rates, though the terms attached to that will depend on what kind of loan you have (student loans, credit cards, etc.). 

Don’t: Clam Up

"One of the biggest mistakes I see people make is not engaging with others when unemployed," DeVito says. The shame of job loss, she says, can scare people away from healthy and productive social interactions. But that only increases the negative pressure on an already stressful situation. Whether you participate in social networking, real-life networking in your industry, volunteering or taking a class, putting yourself out in the world is often the path to new ideas, opportunities and energy. Yes, even when you’d rather retreat and stay home alone.

Do: Take a Balanced View of Your Situation

Psychologist and mindfulness expert Dr. Melanie Greenberg writes in Psychology Today that she recommends adopting a “mindful” perspective during unemployment, refocusing on the on the positive aspects of your life. That includes self-reflecting and being honest with yourself about the causes behind your job loss.

Don’t: Neglect Your Well-Being

"Losing your job is one of the most difficult life experiences that people will go through," Dr. Leahy told NPR. "But having said that, the question really is how long do you want to stay stuck in that position of being angry and anxious?" A Duke University study revealed that the risk of heart attack was significantly higher among the unemployed than those who hadn’t experienced job loss, underscoring the importance of taking care of your physical and emotional health while unemployed.

Watch your stress levels, whether that means taking up meditation, yoga, or simply trying to smile more. Dr. Kavitha Chinnaiyan of Beaumont Hospital in Royal Oak, Michigan told WebMD that meditation is one of her favorite ways to reduce stress: "It helps you see your choices and have a clearer perspective of what to do next. Stress may still be around us, but meditation gives us a better ability to cope with it." Yoga, Chinnaiyan added, can also help reduce stress hormones in the body.

By the same token, don’t let yourself become too busy to exercise, especially because it’s been shown to reduce stress and actually help people build stronger relationships. If you’re in need of inspiration, here are 10 free workout sites to get you going.

All in all, unemployment can be extremely draining, but remember: it’s almost always temporary! By leaning on friends, family, and your own inner fortitude, you’ll brave the storm and come out stronger in the end.

Source: Learnvest.com