| While the economy is causing many businesses and | | | | According to your budget, you should find at least a |
| employees alike to live in fear of the pink slip, there are | | | | little bit of cash week to put away into an emergency |
| many families worried about where their next meal will | | | | fund. It doesn't matter how little - what matters is that |
| come from if there is no income to rely upon. | | | | you do it. A little bit here and there on a weekly basis |
| However unexpected a layoff is, there are ways to | | | | will make a tidy sum if you leave it alone until a real |
| survive, provided you do a little pre-planning. | | | | emergency comes about. |
| Here are a few tips to help you prepare and deal with | | | | Start Hunting Now |
| a layoff should it happen to you: | | | | Be discreet about it but start getting your options |
| Start Cutting Costs | | | | figured out while you are still employed. See what it will |
| It's never too early to start reducing the mount of | | | | take to improve your resume. Perhaps some new |
| money you spend on your lifestyle. Start thinking back | | | | training will allow you to not only get a new job but to |
| to the basics of life and cut costs where you can. | | | | find one that makes you more money that you are |
| Think about creative ways to knock down your | | | | making now. Check with your local unemployment |
| grocery bills, utility costs, transportation expenses, and | | | | office and see if they offer consultations or training for |
| other things you may not necessarily need. Start | | | | a new job. Spread the word amongst friends that you |
| paying off the smaller bills you have to decrease your | | | | might be looking for a new job and see if anyone can |
| outgoing debt payments. | | | | give you a referral. Make sure you don't burn any |
| Pay Minimums | | | | bridges at your present job while your position stability |
| While it does not necessarily promise a quick balance | | | | is still up in the air. |
| payoff, start paying at least the minimums on the credit | | | | Snag a Secondary Income |
| card balances you do have to keep some spare cash | | | | If you are not having much success with a full time gig, |
| on hand when times are tough. You do not want to | | | | find something part time that you can rely on to pay |
| stop paying and you definitely do not want to keep | | | | the bills and eat until you can pick up steadier work. |
| spending money on cards you can not afford to pay | | | | Depending on your skill set, you can also try consulting |
| off. | | | | work or freelancing to keep money coming in. |
| Set Your Budget | | | | Be Open Minded |
| If you don't have a budget already, now is the time to | | | | It will be a difficult situation for all to deal with a layoff |
| make one. You need to understand where your | | | | and the uncertainty that goes along with it but you |
| money is coming from and where it is going to go | | | | need to remain open-minded and flexible in order to |
| once it is in your hands. Budgets will help you not | | | | get through the tough situation. To some extent, you |
| overspend and be clear on what you are doing with | | | | will need to do what you have to do to make things |
| your money instead of saving it. | | | | keep moving forward. |
| Stash the Cash | | | | |