[USER]

I will likely lose my job tomorrow because of new government policies. I have a good emergency fund, so I’m not worried there, but I am curious to hear from others who were suddenly laid off about what financial changes/moves you wish you had made immediately/sooner to improve your situation.

Thank you!

[Jill]

You will like lose access to your emails and files immediately, so back up what you need and is yours, make sure you have your contacts email addresses and personal stuff isn’t going to your work email.

[Erika]

I’m very sorry to hear this. Very chaotic and unstable time for so many and it doesn’t look like it will be improving.

[Dan]

Easy one being to start the process of filing for unemployment immediately based on whatever state you are in.

Many states have waiting periods before you are eligible to receive benefits.

Additionally any other state social programs that you might be eligible for with a lower income and whatever filing requirements they have.

Starting the process of shopping for health insurance on the marketplace or through whatever source you plan to get it from so you know where you are going to get it and can avoid COBRA if that is more expensive than your new option.

Think about anything that is more difficult because of a lower income or that might be affected by not being able to prove income.

[Lynne]

So very sorry this is happening. Don’t know how we’re going to survive 4 years of this nightmare.

[John]

Network! You probably have lots of connections on the civilian side, but those will start to atrophy. Work on your resume tomorrow; get it all buffed up and circulate among your contacts.

Make this a priority; your “time off” might last longer than you expect as it’s a rather tough market out there.

[Dave]

Never underestimate the power of a fully funded emergency fund. It has saved me more than once.

[Aura]

Send an email to people you care about with your new contact information.

Create a new email address if they are working colleagues and you want to keep a separation between work and personal.

[Sarah]

Everything Dan said….& then take time to re-evaluate expenses if it matters to you. I should have re-shopped my car insurance earlier. (Saving a bunch now!!).

Some have cut cable, streaming etc, things like that. Will let you know if I think of others I’ve done.

[Jenny]

Start applying for unemployment. Keep all of your contact information from work. Keep a backup file. Get all the healthcare things done while you are still on the insurance.

Start letting people know you are available. Look at your expenses and trim some fat.

Trade stocks for some money (if you are so inclined) It’s a good opportunity to do some soul searching- what brings you joy?

What gives your life meaning? Where do you want to go next? Good luck

[Sian]

Just get on it right away. I was not given over 8 months of UI I was owed in the pandemic because the state was “overwhelmed”.

No one answering phones etc. First and only time ever I’ve needed to claim. Total BS.

I believe hugely in governance in theory, but I literally feel like I was stolen from.

Don’t trust that the system will have your back.

[Andrea]

I canceled subscriptions (streaming, magazines, massage envy), cut back on eating out and grocery spend in general.

Started looking for alternatives and more off brand items which in the long run has saved me lots of money and will likely be permanent regardless.

I joined a local ‘Buy Nothing’. I also had lawn service and finally broke down and bought a rechargeable lawnmower during a Labor Day sale and cut my own grass and trim.

I also had emergency funds but just recently withdrew from my brokerage account. But, I have worked temp jobs and drove for a Uber and maxed out the unemployment funds.

Was laid off in April and still on the hunt.

I hope you land something else soon! Just remember to be kind to yourself. The job hunt can be brutal.

[Author]

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