How to Survive Financially after a Job Loss

You may have joined—or are about to join—the ranks of the unemployed. Now what?

Early key moves and decisions can make the difference between surviving financially until you're successfully employed again and making financial mistakes that could jeopardize your financial well-being for years to come.

Below are suggestions to take while looking for work:

• Don't panic
• Don't make any hasty financial decisions
• Start looking for work soon
• Reassess your career
• Tap everyone you know for job leads
• File for unemployment insurance
• Handle severance package offer with care
• Maintain health insurance
• Continue life and disability insurance
• Start an emergency spending plan
• Talk to your family
• Consider government or private assistance
• Make retirement plan decisions
• Avoid ill-advised short-term investment decisions
• Minimize debt burden
• Avoid filing for bankruptcy
• See a financial planner

Learn more, read FPA's "How to Survive Financially after a Job Loss" brochure.