Surviving a Layoff

 

Economic indicators suggest that the unemployment rate will remain high. Financial experts say that the average American family is only a paycheck or two away from financial distress. If you are currently laid off or think you might be soon, gathering the right information and financial tools can help you take control of your money and make sure it goes where it's most needed.

 

Our initial reaction to being laid off can bring feelings of fear, anger, disbelief and sadness. It's important to acknowledge those feelings, but move beyond them to take control of your situation. To do that, experts suggest important steps such as keeping the same daily routine, networking and utilizing employment job search engines such as Careerbuilder, Monster and Craigslist.

 

There are action steps to stay on top of your finances, too. Click here to download the Layoff Survival Guide. It covers the following areas and gives you specific suggestions for dealing with the financial challenges of surviving a layoff:

  • Crunch the Numbers - Assess Your Current Situation
  • Get Lean - Prioritize Your Spending
  • State the Facts - Communicate with Your Creditors
  • Avoid the Credit Trap - Handle Credit Issues Wisely
  • Don't Go It Alone - Tap into Community Resources
 

Developing a spending plan based on your new circumstances and prioritizing your debts will be important steps you take at this time.  Download a personal budget form and 16 Rules for Which Debts to Pay First to help you with this. Visit the Quick Tips section of the Education page for additional information and worksheets.

 

 Need more than these tips? Contact us for a free initial comprehensive money management session. Our certified counselors will evaluate your current finances and develop a specific plan of action to address your financial needs.

 

To begin an online application, click here - or call us at 1-800-355-2227 to schedule an appointment.

 

Consumer Credit Counseling Service has been helping consumers learn to manage their finances, balance their budgets and get out of debt for over 50 years. Certified credit counselors provide comprehensive credit and debt counseling, HUD-approved housing counseling and financial education. Services are offered in-person at local offices, by phone or through the Internet.