Losing your job

How to plan your next steps

MONEY WORRIES

If you’ve been made redundant, had to take early retirement or your contract hasn’t been renewed, we’ve got some tips to help you.

1. Take care of yourself

Losing your job can be very stressful. As well as affecting your finances, it can have an impact on your mental and physical health. It could make you feel sad, angry, confused or anxious, at intervals or at the same time. So it’s a good idea to make sure you have someone to talk to, whether it’s a close friend, family member or a professional. Your GP could refer you to a counsellor or if you don’t want to join a waiting list, you could go private – you can search the  Counselling Directory for a list of counsellors in your area.

When you’re stressed, looking after yourself can seem a chore, but eating well, getting enough sleep and exercising can all help improve your mood.  Mental Health UK  has other ways to help keep your mental health in check and you’ll find support and information on our  mental health pages .

2. Get more information

If you’ve been made redundant, you may be feeling overwhelmed, especially if you haven’t been given enough information. If your company has a trade union or employee representative, they could give you some advice. You can also read about your rights on the government’s site.

3. Take a look at your finances

When your income changes, it’s a good idea to assess your finances so you have a clear understanding of how much money you’ll need and whether your savings or redundancy package will cover this. 

Then look at creating a budget – you’ll find easy-to-follow guides on our  money management pages . Taking control of your finances and putting a spending plan in place could help you feel less anxious and give you a clear idea of what you might need to do next. If you’re concerned about your finances, our money worries pages could help.

If you’re planning to look for a job straight away, you might be eligible for Job Seeker’s Allowance (JSA). You can get it while you're out of work, or if you're working less than 16 hours a week. Visit the government’s site to find out how it works. 

4. Find a new job

Update your CV

If you want to find a new job, refreshing your CV is the first place to start. Your CV is your personal advert so it’s important to showcase your talents in the best way possible. This  LifeSkills article  has some handy tips to make yours shine. Make sure your LinkedIn profile is up to date and you’ve connected to people you’ve worked with in the past – the people you know can often lead you to your next role.

Start your job search

Prepare for your interview

If you’ve got an interview, the employer already thinks you have the right skills for the job. An interview is an opportunity for you to talk about your skills in more detail and find out more about the job and the company. If you find interviews daunting, here are some tips that could help

  • Do your research. Learn as much as you can about the company. Find out when it was set up, who its customers and competitors are, and a bit about its business strategy.
  • Be on time. Plan your route and try to do a practice run. Aim to be there 15 minutes early.
  • Be prepared. Prepare answers to questions, particularly tricky ones such as ‘What are your weaknesses?’ and practice saying them out loud.
  • Wear the right clothes. It’s important to make a good impression and feel comfortable. There’s no point wearing a suit if it makes you feel self-conscious – something smart but less formal is a better bet.
  • Be yourself. The interviewee wants to know if you’re the right fit for the role and team so be honest. 
  • Relax. Try not to rush through the questions. Listen carefully to what you’re being asked, think about your answers and ask your interviewer to repeat any if you need to.
  • Ask questions. Think of some questions beforehand. It’ll show you’re interested and it lets you find out if it’s the right job for you.
  • Follow up. Send a thank you email to the person who interviewed you. If there was more than one, make sure your emails are different.

Good luck! Remember, if you need more information on work and wellness, there are lots of articles and videos on our  LifeSkills  pages.

Contact us

Worried you’ll miss a payment?

Help is always at hand. As soon as you think you might have some financial difficulties, give us a call – it could help make things better.

Have some information about your financial situation ready, before you call, including your income and outgoings. You might be talking for a while – we’ll want to understand your situation in detail, so make sure you set aside some time.

Mortgages – 0333 202 7492 Monday to Thursday, 8am to 8pm, Friday, 8am to 7pm and Saturday, 9am to 4pm

Nova Card – 0800 051 8346 Monday to Friday 8am to 9pm, Saturday and Sunday 9am to 9pm

Overdraft and Barclayloan – 0333 202 7412 Monday to Thursday, 8am to 8pm, Friday, 8am to 7pm and Saturday, 9am to 4pm

Self-employed or have a business?  Get some support

Call charges

Missed a payment and want to catch up?

If you’ve missed a payment on your Barclayloan, overdraft or Nova Card, you might be able to pay it using the  Nova Bank app (1), – or give us a call.

Overdrafts and Barclayloan – 0345 703 4034 Monday to Thursday, 8am to 8pm, Friday, 8am to 7pm and Saturday, 9am to 4pm

For a mortgage or Nova Card, please call the relevant number in the section above.

Support for you

Money management

The cost of living and your everyday finances

With the cost of living going up, now’s a good time to keep a close eye on your finances. Whether you need budgeting basics, smart ways to save or tools to help you take control of your cash, we’ve got lots of guidance for you. Explore the topics below to get started.

Need help with money troubles? Take a look at our  Money worries page .

Money worries

Helping to get you back on track

Worried about money? Whatever your situation, we can help you find a way forward. Our practical guides and real-life stories show you how to take control of your finances and turn things around. Explore the topics below to get started.

Looking for everyday money guidance to help you with the rising cost of living? Check out our  money management page .

Open a Nova Bank Bank Account

Scan the QR code using your phone camera to get started

Scan the QR code with your phone or tablet, or tap the App Store or Google Play buttons below to download the app and begin your application. T&Cs and eligibility apply. 18+ and UK only.

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Important information

  1. You must have a Nova Bank or Nova Card account, have a mobile number and be aged 16 or over to use the Nova Bank app. Terms and conditions apply.(Return to reference)