From the course: 14 Things to Do When You Lose Your Job
Join today to access over 22,600 courses taught by industry experts or purchase this course individually.
Assess your financial situation
From the course: 14 Things to Do When You Lose Your Job
Assess your financial situation
- When you're faced with losing your job, or if you've already lost your job, you're often left unprepared. One of the important first steps is to assess your financial situation and determine where you stand. If you have an existing budget and an existing system for tracking your finances, take a look at it and see how much savings you have and how much debt you have. Other than any potential unemployment income, you're going to have to live off of your savings until you can secure a new job. Take your amount of cash and emergency savings, and divide that by your monthly budget, and that should help you understand how many months of savings you have available to you. If you don't have a budget and a way to track your financial situation, now is the time to learn. Sit down with a pen and paper or a spreadsheet to list out all of your monthly expenses. This includes fixed expenses, like your rent, your car payment…
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.