Help for Individuals – If You have Lost Your Job Please Follow These Steps:
If you have recently lost your job and don’t know what to do please follow these steps:
1. Conserve your cash – reduce unnecessary spending.
2. Contact Centrelink – see if you are eligible for job support. Please be aware that we cannot assist with Centrelink and that there will most likely be long delays.
3. Begin to apply for new jobs – some industries will have an increase in demand.
4. If you have a mortgage loan or any other debt with a bank (including credit card) – call the bank and advise them that you are out of work and cannot pay your instalments. There are also various financial counselling and debt consolidation services available.
5. If you are renting – call your landlord and advise that you may not be able to pay all the rent on time.
6. You may be eligible to take money out of your super fund. Follow this ATO link Temporary Early Release of Superannuation and contact your superannuation fund to see when you can access these funds.
7. Use this downtime to review your financial circumstances – you have to consider that you may be out of a job for 6-18 months.
Please remember, our travel and general lifestyle will be severely restricted over the next several months and so your costs will automatically be lower.
We are currently helping a lot of people as situations change, please be aware that there may be long delays in responses. Please keep up to date with our daily blogs and a member of The Macro Group team will get back to you as soon as possible.
Date Published: 23 March 2020
General advice warning. The information on this site is of a general nature. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions.