Important To-Do's After You're Laid Off
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Important To-Do's After You're Laid Off
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Careers & Education > Layoff Survival
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Key Tags :Layoff   Layoff Survival   Job Loss   job search   Financial Management   
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Immediately fill out the required government forms so that you can start receiving unemployment checks from government. about 1 year ago
  kumanrow 0 Comments     Save Tip  View Link  

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Get your COBRA Insurance Coverage about 1 year ago
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01(k).Workers should avoid taking money out of a 401(k) plan, as they could lose a large portion as taxes and penalties. Also the amount with drawn is added to their income possibly push them to a high tax bracket about 1 year ago
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Be sure to let all of your lenders know your new status and ask for temporary payment reductions before you get behind. about 1 year ago
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Calculate how much money the company owes you in unpaid salary, vacation time, bonuses, etc Check the math on your final pay stub to make to tally it with your calculation and all expected items are properly accounted about 1 year ago
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Pay minimums on ALL debt, nothing extra. It is important not to get behind with storm clouds on the horizon, so continue to stay current on all debt accounts. about 1 year ago
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Negotiate. When you get your pink slip, negotiate as many benefits as you possibly can before your exit interview is over. Don’t be satisfied to just get a promise of a good reference and any unpaid vacation. about 1 year ago
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Pile up cash in an emergency fund. Using the debt snowball amount you were previously paying on that smallest debt as a starting place, throw every single dollar you can find in an emergency fund. about 1 year ago
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Calculate your bare minimum monthly income This part is very important and Cut expenses like crazy about 1 year ago
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Start looking for a job immediately The first benefit here it is a lot easier to survive a layoff when you know that you have a job lined up. The sooner you start looking for a job, the sooner you will find something. about 1 year ago
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