Updated on July 27, 2021
If you think your employer could be headed in the direction of a workforce reduction, there are things you can do to help prepare yourself and your budget for a potential job loss. Read below for tips on what to do if you’re expecting to be laid off from your job.
If you think you might lose your job, you’re probably feeling pretty stressed out. That’s understandable. But being stressed out can make it difficult to make well-thought-out financial decisions. Try not to think too far down the road. Instead, focus on what’s immediately in front of you and look for areas where you can control what’s happening.
If COBRA isn’t an option, you may be able to find coverage through Pennsylvania’s healthcare exchange, provided through the federal Affordable Care Act. You can shop for plans on healthcare.gov. It’s important to get to a realistic premium figure to add to your budget.
Start thinking about where you could find employment today and how you could fit into the future economic landscape.
By acting on the steps above and keeping a positive attitude, you’ll be ready in case you face reduced hours or a job loss. For more articles and resources to help you make the most of your money by visit our WalletWorks page.