Laid Off? Make Sure You Manage Your Finances –Johnson Crocker, Get a News Job staff writer Layoffs can happen to anyone, especially in this economy. However, most of us do not even think about the fact that layoffs can happen until we are actually laid off. When times are good, most people don’t count the costs. They have no idea how much essentials such as meals and insurance cost. The sad reality is that it takes a job loss for people to wake up. If you’re laid off from a private entity, you will probably be offered a severance package. If not, there are a number of government-aided programs to help. Most states offer unemployment insurance, job training, and loans for setting up your own business. Since your severance package, savings (if you have them), and your government benefits won’t allow you to live at the level you had been living, you will have to devise and implement a costcutting plan of action such as a budget that reduces unnecessary expenses. That means saying goodbye to fancy restaurants, theatre and private gyms, and saying hello to Pizza Hut, Netflix, and the local YMCA.
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