Financial Matters: How to Handle a Lay-Off

Tiffany Aliche

It’s an unpleasant reality that in our current economy many workers experience being laid off – and that unfortunately includes nurses.

Being laid off can be overwhelming and the first thing you probably worry about is how you will cope financially on less income. There are some strategies that laid off nurses can use to cut expenses and the stress of a lay-off. While you’re looking for your next nursing position, follow these practical budgeting tips from Tiffany "The Budgetnista" Aliche, author of The One Week Budget: Learn How to Create Your Money Management System in 7 Days or Less.

If you haven’t been laid off, but feel there is a threat, follow Aliche’s four step plan:

Step 1: Begin preparing now by cutting back. Now is the time to drastically reduce your spending. Put the money you save toward your emergency account.

Step 2: Pay-down credit card debt and store debt. Credit card debt it very expensive, but even more expensive is store debt. Pay off any purchases you have first. You don’t want to lose items due to lack of payment. After that, work on your credit card debt. You might need the limits as an additional back-up.

Step 3: Consider opening a new “emergency credit card,” while your credit score is still (hopefully), decent.

Step 4: Update your resume and let friends and family know you’re looking for a new job.

If you’ve been laid off, cut these non-essential “extra” expenses:

  • Cable (immediately)
  • Cell phone bill: Get your usage assessed. You may qualify for a simpler plan that costs less
  • Dry cleaning: Try Dryel, an at home dry cleaning product
  • Eating out
  • Grooming: Do your own touch-ups between salon visits

If you have been laid off, be sure to:

  • Reach out to your service providers and put them on notice (car insurance, loans, mortgage, utilities, etc.). Ask what kind of help they provide for clients experiencing financial hardship.
  • STOP spending on non-essential items. If it’s not absolute need, don’t buy it.

Finally, Aliche says, “you have to start living at your financial baseline. That the lowest possible budget your life will allow; a no-frills life. Every penny spent has to be done so wisely, because there is no guarantee it will be replaced anytime soon.”

For more savvy budgeting tips, visit The Budgetnista website

3 comments

Most financial guru advice is always set aside for saving because we never knew what will awaits us ahead. - Dr. Hicham Riba

Any pocket sized hermes replica are more than numerous variations thus giving everyone assortment of opportunities. One can find pieces during common together with collectible quartz see structure, utilizing effortless however , rather beautiful looks. Any pocket sized pieces can be bought for all unique retail outlets for several price tags together with variations. It does not matter for people with low resources. You could also have some fine very useful pocket sized pieces for your self. They're just reckoned to be a valuable treasure product or service in the process. Lots of individuals happen to be choosing this given that it's dior replica an item extremely different together with appearance old fashioned in the process. Whilst you should check point in time for your cellular in the process for anybody who is possibly not being dressed in timepieces however , you will find the amount of time in style for people with a good pocket sized see on you. It can be a well-known working experience to observe some sort of aged way being famous over time. The same thing developed when using the pocket sized pieces and then it is actually an individual's possibility of convey the ones ancient circumstances to come back. They're just these days reckoned to be a style fact and folks normally carry out the fashion blindly. The is perfectly for individuals the fact that benefit from attending beautiful people , nor choose to gucci replica dress in all see on their wrists. Certainly, there at the same time pieces that come from a many other variations which include anime-inspired or simply shows stimulated the fact that boys and girls will love to own.

http://www.ajmanproperties.ae/ar مستودع في عجمان

http://www.ajmanproperties.ae/ar شقق عجمان

http://www.ajmanproperties.ae/ar مبادلة العقارات في عجمان