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8 Steps to Help You Survive Being Laid Off

By Jean Chatzky
What to do when you've been laid off
Photo: © 2009 Jupiterimages
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1. Get Your Due

Part of that huge chunk that's taken out of your check each pay period goes to unemployment insurance, which means that if you lose your job, you get to collect. It's not much—the average is $292 a week, according to the Department of Labor—but every little bit helps.

"Think of it like car insurance. You've paid the premiums, so you're entitled to get your car repaired if you get in an accident. It's the same thing with unemployment insurance, and if you need to collect, you better be in line the next day," says Stacy Francis, a financial planner in New York.

Why the rush? It can take a few weeks for your payments to kick in.


Please note: This is general information and is not intended to be legal advice. You should consult with your own financial advisor before making any major financial decisions, including investments or changes to your portfolio, and a qualified legal professional before executing any legal documents or taking any legal action. Harpo Productions, Inc. and its affiliated companies and entities is not responsible for any losses, damages or claims that may result from your financial or legal decisions.