Worried a layoff may be in your future? Here are things that you can do to prepare:
Get Organized
You can't assess what a layoff will do to your financial situation, if you don't know what your financial situation is; so, now's the time to find out:
Start an Emergency Fund
If you've been meaning to set aside three to six months living expenses, but still haven't gotten around to it, now's the time to play catch up. Open a money market account or a high-yield savings account, and get that emergency fund going post haste:
Cut Your Spending
Find ways to spend less on necessary purchases and delay all unnecessary purchases until you feel the layoff risk has passed:
Create a Bare-Bones Budget
Make a list of your necessary expenses, and total them to determine how much money you really need to survive:
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