Preparing for Unemployment

Advice

Revisit your budget Consider alternative housing options Prioritize emergency savings Pay Off Debt Consider your health insurance optionsLook at your mortgage Review your cell phone bill Network, network, network Avoid draining retirement accounts  Find some additional income source  Apply for unemployment benefits  Establish a HELOC 

Take Away: There are simple, and more complex, steps you can take to put yourself in a position where you can withstand a furlough, pay cut, or lost job. Many of these consist of sound financial principles at all times, whether the economy is expanding or contracting. 

Resources:

Greenway’s Spending Plan

Greenway’s Goal Setting Workbook