Navigating a Sudden Loss of Income

A sudden loss of income can turn your world upside down, but you don’t have to navigate it alone. By following these first steps, you can steady your finances, find support for your situation, and move forward with confidence.

• Take Time to Process
  • Give yourself the space to process and seek support from friends or family.
• Talk with Your Employer
  • Verify final payments, request references, and check for severance pay and/or company resources.
• Apply for Unemployment Benefits
  • Apply quickly and keep job search records.
• Revise Your Budget
  • Prioritize essentials and utilize free budgeting apps.
• Plan Insurance Coverage
  • Explore joining a family plan or short-term options.
• Lower Your Payments
  • Request payment suspensions or lower rates from creditors and consider a debt management program.
• Join the Gig Economy
  • Look for temporary gigs on platforms like Upwork or TaskRabbit.