It was a little over a year and a half ago when I lost my job. It was a mass layoff in our smallish office, and my whole team was cut. There was definitely a hug line on the way out, and some of the recently unemployed were stuffing their pockets with snickers bars to use the rest of their monthly snack balance before handing in their cards. It felt like a scene out of a movie, and I was the unfortunate soul bussing home at ten in the morning, my purse stuffed with a pencil cup and a file organizer.
That bus ride started a six-month period of unemployment that I wouldn’t wish on anyone but I wouldn’t take back either. Here are a few tips I’ve collected should you ever find yourself in a similar situation.
What to do if you lose your job:
File for unemployment.
- You can get unemployment benefits if you were laid off, but not if you were fired or quit. If you meet this criteria, you can enjoy more confidence in yourself and also some extra money to help keep you afloat.
-
The actual numbers: expect a bit less than half of your monthly take home pay. In Washington on a salary of $40K, you would see roughly $1400/month in unemployment. This continues for six to eight months (depends on the state) and stops once you get a job.
-
To actually file, just Google it. You’ll find a semi-clunky government website with instructions. For Washington, it looked like this:
-
I had to fill out an online 10-question survey each week to get my straight-into-my-bank-account deposit. The most noteworthy qualifications: did I look for work that week, and did I apply to at least three jobs. The website encourages you to keep a log of the actual jobs you apply for, but no one ever asked to see mine (and should they, I still have it—all 52 pages).
-
If you can opt to have taxes withheld, do it (usually around 10%). This makes it a bit easier rather than paying taxes in a lump sum later.
-
Figure out your insurance ASAP.
You basically have two options (and the younguns among us have three).
-
Are you under 26? Stay on your parents’ insurance!
-
COBRA: don’t know what it actually stands for, but you can pay (usually a small fortune) to stay on your insurance from your old job.
-
Obamacare/Affordable Care: the cheaper (and harder to sign up for) version of COBRA.
Put on your frugal pants.
-
A store of six to nine months of living expenses comes in handy, but if you don’t have this stocked away we won’t dwell, we’ll just move on and make it work (and don’t make the same mistake twice).
-
Are you in a tight financial bind already? It might be time to move in with the parents or get a roommate. Save yourself some money-related stress (though no guarantees it won’t add other kinds of stress during this time).
-
Trim the fat. Call Verizon to plead your case. Cut the cable for the next few months. Eat in. Put yourself on a spending freeze.
Find the silver lining.
-
Allow yourself some cheap adventures. You might not have a ton of money, but you are rich in time, my friend. See where the wind takes you, and remember: rice and beans are filling but cheap, and PB&J is hard to get sick of.
-
Some ideas to get you started: Have your parents visit! Go to lots of museums! Take a roadtrip! Vacation with a good friend! Go camping! Take up biking! Go to the park for a lazy afternoon! Dream a little here.
-
-
Something to watch for: some of your friends (and sometimes strangers) will be extraordinarily kind and generous during this time. Thank you, Katherine, Becca, and Gams. I can only try to pay it forward with such graciousness.
There you have it. Hope for the jobless. Unemployment isn’t exactly great, but it’s not so bad either. Cheers and wishing you the best in unemployment!