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I Lost My Job. What Should I Do?

Written by FinFit on .
I Lost My Job. What Should I Do?

During this incredibly challenging time, we want to help remove as much uncertainty as possible. If you’ve just lost your job, this checklist will give you immediate steps on what to do to take care of you and your family financially.

File for unemployment insurance in your state.

  1. Click on this link to access a link to information specifically for your state.
  2. Locate and then click on your state in the Find Unemployment Benefits map or select your state from the Location dropdown. The page you are directed to will provide you with links specifically for your state’s unemployment resources.

Look into options for continuing your health insurance

  1. Cobra – you may be eligible to continue your employee health insurance after losing your job for a period of up to 18 months. For information on Cobra, check with your employer.
  2. If you have dependent children, they may qualify for free or low-cost insurance. For more information, visit Insurekidsnow.gov
  3. Visit Healthcare.gov for plan information, pricing or to see if you qualify for Medicaid or the Children’s Health Insurance Program (CHIP).

If you participated in your company’s 401(k) plan or have a pension plan, here are some considerations on what to do with your investments:

Update or create a budget

  1. Download a free budgeting app or, if you’re a FinFit member, you still have access to your MoneyView Financial Dashboard and it’s budgeting tools.
  2. Identify what you have coming in and going out and look for any non-essential expenses you can cancel.
  3. Take a look at your outstanding loans and contact your lending institution(s) to see if they are offering any type of COVID-19 related deferment assistance.
  4. If you have outstanding credit card balances, contact your credit card issuer for possible assistance.

Re-entering the workforce

  1. Gather your personal references
  2. Create or update your resume
  3. Create a Linkedin profile for online networking
  4. Clean up your social media sites such as Facebook, Instagram and Twitter. Potential employers will check out your social accounts.
  5. Register and job search online
  6. Consider the assistance of a employment agency or staffing firm
  7. Prepare for your job interview

Don’t be afraid to reach out to a counselor if you’re feeling overwhelmed. The NFCC and its member agencies have counselors available by phone around the clock to assist if you are experiencing job loss, temporary loss of income or financial hardship during this time.

For FinFit members, you can receive free, one-on-one financial counseling from our team of certified financial coaches. If you’re unsure of what your next step should be, please contact us. We’re all in this together.