Sixteen Steps You Need to Take if You Just Lost Your Job

(Excerpt from Laid Off Now What 2009, 

The Recession Edition. Chapter 3 )

By Laura D Lewis

 

You may have expected to lose your job, or it may have come from out of the blue. Regardless, when it comes, it seems you are never really prepared for it. You’re laid off—now what?

As the anxiety sets in, you begin to take stock of your situation. You may be carrying high credit card debt and other loans averaging 21% or more. Your savings may be depleted or are less than the debts you owe. The value of your home may be less than you owe. Over the past year you’ve watched your stocks and retirement savings lose nearly thirty-percent of their value. The timing couldn’t be worse you muse; the only safety net you had, a steady paycheck is gone. Now what do you do?

The goal of this book and this article is to take away some of that uncertainty and fear by cutting the learning curve and giving you concrete tasks designed to get you through this financially, psychologically and into a new job as soon as possible.

 

With that said, let's get down to business.

STEP 1: Schedule all doctor appointments 

STEP 2: Submit your expense report 

STEP 3: Check out your health care spending account 

STEP 4: Call your state’s unemployment office—or—visit their website 

STEP 5: Sign up for Sxipper, RobboForm or another form filling software 

STEP 6: Make a target list of the companies you want to work for 

STEP 7: Make a list of your assets and liabilities

STEP 8: Prepay as much as possible 

STEP 9: Hope for the best but plan for the worst