What to Do If You Get Laid Off

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A crash course for dealing with being laid off.


No one really wants to be laid off from their job. Being out of work is scary and dealing with the struggle to find a new job can be tough. Even still, it can be a turning point in your career and lead you down a path toward something bigger and better. The key is to deal with it as effectively as possible.


If you suddenly lose your job, there are things you should do right away in order to use your time effectively. Here is a crash course on things you should do if you get laid off.


File for unemployment - Don't wait to do this. Unemployment insurance doesn't pay you a lot of money, but it's something. It's important that you don't put off filing because it can take weeks before you receive your first payment. The sooner you file, the sooner you will have some income. Don't think of it as charity, because it isn't. Each time you get paid, a small amount of your salary goes to pay for unemployment insurance.


Look at your finances - Do an assessment to see where you are financially. Do you have a spouse or partner who is employed? Do you have savings accounts or an emergency fund? Look for other sources of income, like low interests home equity loans. Unless you have no other choice, try not to rely on retirement accounts or credit cards. The interest and fees can outweigh the benefits.


Get a grip on your spending - Look at your last couple of months of spending and get an idea of where your money goes each month. From there, you can try to find places where you can cut expenses and save some money. You might have to cut out a lot of things, but be sure to keep things like internet that are important to your job search.


Contact your creditors - The last thing you want is to have your job loss ruin your credit. Instead of waiting for the phone calls and past due notices, call your creditors and let them know your situation. If they can't help you, ask to speak to a supervisor. Some credit cards have credit protection that can waive charges or lower your minimum payment while you are unemployed.


Sit down with your family - If you have children, don't leave them in the dark. Tell them about your job loss and let them know that things will be tight until you find a new one. Be honest with them about your situation and ask them for their help and ideas. You'd be surprised at how resourceful kids can be.


Hopefully, by taking the right steps at the beginning, you'll be able to look for a new job without being bogged down by stress and depression.


What else do you think is important to do after being laid off? Please share your thoughts in the comments.


By Melissa Kennedy- Melissa is a 9 year blog veteran and a freelance writer for FinancialJobBank and Nexxt. Along with helping others find the job of their dreams, she enjoys computer geekery, raising a teenager, supporting her local library, writing about herself in the third person and working on her next novel.