Resources for the newly unemployed

Here are some job loss tips that may be helpful.

Get registered with the unemployment system as quickly as possible.
Keep in mind that you may not qualify for benefits. Many job categories such as sales jobs or temp jobs prevent you from getting any benefits at all.
In most cases owning your own business also disqualifies you too.  However, before giving up, meet with a counsler. You may find benefits such as having civil service exam fees waived or special categories you fit into that might give you some indirect benefit.  If nothing else, there are usually reasonably priced computers, copiers and faxes available. 

• For a regular layoff, no problem. In fact some cheap companies have their seasonal employees go on unemployment as part of their business plans.. 
• For a firing or "letting go", expect a fight.  They will likely try to deny you benefits. Reviewing the case might take up to 8 weeks. So, have some savings to live on. They will eventually contact you to review your case but only if you register with unemployment ASAP! 
• If YOU paid into the system via a deduction on your paycheck, you have a strong claim that shouldn't be dismissed because your former employer wants to save some money.
• Some jobs don't qualify you at all! Self employment falls into this category. However, being a board director of your own company might still allow you to collect. So, when setting up a company, give yourself a  parachute in case your company fails!

While you're in your first week of unemployment.

• Contact all people references you intend to use. Give them a call. Make sure their contact info is current.
  
• Update your resume with what you've been doing recently. Collect past awards, certificates and attaboy awards. You may have more experience than you think!
• Do an immediate search of the area for similar jobs. If you are lucky, you may just slide into another job without even drawing unemployment!
  
• Take time to visit the dentist, doctor, optometrist, barber and auto repair. Do long term things you would normally take time off to do.  Your next job will not give you time to do these tasks.
• Deal with your 401K. You hopefully will be fully employed so you won't have time to do that in your next job either!

Some unemployment issues to consider
At least in NY, you only have 28 weeks of benefits. However, you don't need to draw on that claim right away. So, you can take on high paid work without losing your claim if the work is only for a specific period of time (eg. 3 month contract) Just make sure you TELL the unemployment people this work is of a fixed period. If you QUIT, you lose your original claim. However, if your contract isn't renewed, you can keep your original claim for up to a year.

• If, after the second week, you aren't getting a check, make an appointment with an unemployment job counselor. They may not be too useful in finding a job. However, they would know of most benefits you can qualify for.
  
• If you DO get benefits, life is good. You can take a job that's really challenging and you'll have a temporary safety net for up to a year. Perhaps taking a job at a shaky start-up company is something you want to try. Maybe you want to try your hand at direct sales (which normally doesn't qualify for unemployment benefits). Just insist on a fixed probation period when you'll be assessed.  If you succeed, that's great! If you fail, you still have your original claim as a safety net.

If you have a 401K or 403B, grab it quick to put it  somewhere else safe even if its in a moneymarket at your bank.

• Your local credit union or bank can assist you with that transfer. Put it somewhere safe & short term. Perhaps a 6 month CD so you don't need to deal with thinking about it right away.
• The penalties and taxes for drawing from 401K or retirement are severe enough (20% plus early withdraw penalties plus you pay taxes right away) that it competes with credit card debt as to which is worse. It may be that taking on high interest credit card debt makes better financial sense.

After the first two weeks, you may be facing longer term unemployment. If so, here are some things to check.

Welfare - Unfortunately, you need to be incredibly poor for this to be an alternative.

• "temporary" welfare still exists. However, be prepared to say goodbye to good credit. Also, say goodbye to everything else too. I found out as a single person, having a house or car and over $100 in the bank or $400 in assets disqualifies me for virtually every program.  There is also a two month wait even if I did qualify. Not to say it shouldn't be checked out. However, don't expect much. If you have no car, no possessions and have an eviction notice, it's worth checking out. Before doing that,  close your bank account. You won't be needing that, perhaps ever. Oh, and in the spirit of "workfare" you must take a job they say and keep any job assigned, regardless of what it is.
  
• Welfare is divided into different services. Qualifying for one makes it easier to qualify for another. For example, getting home heating assistance (HEAP) usually makes it easier to get food stamps. Getting foods stamps makes it possible to get Medicaid and so on.
• Look into income based programs such as assistance with home repairs or insurance subsidies. You may temporarily qualify for them!

 Review cash sources

• Savings
  
• Unemployment
• Rental or storage space income
  
• Tax rebate
  
• Consider selling items that have high value but low use such as recreational vehicles 
  (unless living in one is a fallback plan)
  
• Potential loan sources such as credit cards, friends or family
• Cash advances from credit cards.
  

Review cash drains

• Anticipated legal costs (if any)
• Anticipated medical (if any)
  
• Get dental work, visit optometrist, get checkup. (If you plan to re-enter workforce)
  
• Mortgage payment (May be able to refinance, but it hurts your credit)
• auto-withdraw for IRA (turn it off)
  
• Health club (keep it. Keeping healthy helps morale)
  
• Home & car insurance (consider a monthly plan if paying yearly is too much)
• Anticipated property taxes (can sometimes split these payments up too)
• Fees from late payments.

Try to reduce the costs you have

• Do laundry at friends instead of at a laundromat (you'll find out who your good friends are)
• Heat/Electric. Wear sweaters and   convert to fixed rate pricing. 
• Water bill (install a flow reducing shower head - about $15)
• Cable - dump it. Replace CATV and Internet with a prepaid smartphone.You'll need both phone and data for job searches (Just make sure the phone can teather or perform as a hotspot)
• To conserve fuel and car maintenance walk, bike and bus more. Don't be stupid about it. Drive to job interviews. That way, you'll look and feel your best.
• Start a table top garden. It's low cost and VERY good therapy.
• Although single people don't usually qualify for food stamps, they can still visit a food pantry with only minimal questions asked. When your finances are better, donate back so they stay around.
• If you rent and cannot pay, the eviction process is usually 30-45 days but it can sometimes be drawn out beyond that. If you think you'll be unemployed for the long term,  get a legal packet from your court house to see what the eviction process is (as if you are evicting someone yourself). That information will tell you what your landlord can and cannot legally do.
  
• If living in a house, foreclosure can give you time but once started, it cannot be stopped!  After all, the bank wants your equity.
  

What you'll probably find is that you can't live on savings forever. However, you can usually go longer than you think. It's critical to give yourself enough time to think about career options. You're now outside the box. Time to start thinking like it!