Facing Unemployment? Start Preparing Now

Facing the prospect of being unemployed is not something anyone wants to do. However, sometimes it’s a reality. If you’re lucky, you’ll have some time to prepare before you lose your income. In fact, it’s always best to be prepared while you’re still securely employed. However, even if unemployment is imminent, you can still do some things to get ready for your loss of income.

Polish Your Resume

As soon as you hear you might be out of a job, or get confirmation that you will be, start revising your resume. It might have been a while since you last even looked at it, let alone made any changes. Make sure it’s up to date so you can start your job search right away.

Apply for Unemployment ASAP

If you’ve lost your job, your employer might be required to pay you unemployment benefits for a while. File for unemployment as soon as you can as the money will help you out. You can often be rejected the first time, but appealing the decision will often get you the money you’re entitled to.

Create a New Budget

Your income is changing drastically, so a new household budget is usually needed. You might have to start living on one income, or perhaps just on your savings. Start making some cuts to your expenses and find some ways to make some quick savings. There are many ways you can save money around the house and by changing your lifestyle and spending habits. Work out how to make your money go further.

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