Even if you’re glad it happened, a job loss can wallop you both financially and emotionally.

 It can be easy to lose your stability during this often-traumatic life transition  —although it doesn’t have to be that way.Consider these tips for staying on track and safeguarding your financial well-being and sanity during your time off.

 If you sense any possibility of losing your present job or your relationship with your employer is not cordial, you can start taking the following action the safe you the embarrassment of sudden loss of your job.

 However note that the following tips are not 100% guarantee to loss of jobs but it serve as a guide to put you on your feet. Reading this alone will not help rather the positive result is in the actions taking.

Below are the things you need to do before you loss your job:

1. Try not to panic.

It’s natural and normal to experience a period of grieving after losing a job. But don’t let yourself dwell on one worst-case scenario after another. Instead, recognize that you’re going to survive this, and focus your mind on productive solutions.

2. Start slashing your spending, pronto.

Do whatever you can not to spend excessively on items and services you don’t truly need. This will make it even easier to build up that emergency fund once and for all. Monitor your expenses for a few weeks or a month so you can see where you can realistically cut back. Here are some biggies to remember:

3. Create an emergency fund.

Make it your top priority to set aside enough money to cover your basic living expenses for three to six months. This should give you the ability to pay your rent or mortgage, buy food and repay debts during a bout of unemployment. Consider socking this money away in an online-only, high-yield money market account or a short-term certificate of deposit. For more details about how to choose such an account and earn more interest on your dough, read this past “10 Tips” column on the subject.