Facing job loss almost certainly creates financial challenges. The earlier you start to plan and make adjustments to your financial situation, the better you will be able to manage the impact.
- If you will need continuing medical insurance coverage, be sure to sign up for COBRA coverage by the deadline.
- Apply for unemployment coverage.
- Be sure to submit receipts for any unused balance in your flexible spending account(s) by the deadline.
- If you have outstanding loans, contact the lenders to discuss options for deferring payment or reducing interest rates.
- Create or update a personal budget.