Job Loss: Your First 30 Days (Financial Runway)

Prepare: before the letter arrives

If you still have income, run these once — they take an evening:

• Export autopay list from your bank (amount, date, card/account used).
• Note employer benefits end dates (health, dental, HSA, 401k match).
• Save PDFs of the last three pay stubs and your employee handbook sections on PTO payout and severance.

Week 1: document and file

Day 1–2

• Request written separation details: last day paid, PTO payout, severance eligibility, benefits termination date.
• Apply for unemployment the same week if eligible — states often use the last workday as the filing anchor (see your state labor site via DOL’s hub).
• Do not cash out retirement accounts unless you have modeled tax penalties with a professional.

Day 3–5

• List minimum monthly burn: housing, utilities, insurance, food, minimum debt payments.
• Compare burn to cash on hand + expected severance + unemployment estimate. That gap number is your runway in weeks.

Day 6–7

• Call mortgage servicer or landlord before you miss a payment if runway is under six weeks. Many have hardship programs not advertised on websites.

Week 2: benefits and cuts

• Health insurance: compare COBRA (60-day election window typically) with Marketplace plans — Healthcare.gov notes special enrollment when you lose job-based coverage.
• Cancel subscriptions and pause memberships you will not use in the next 60 days.
• Switch grocery shopping to your pantry-first meal list (see our two-week pantry guide).

Week 3–4: income replacement rhythm

• Set a daily job-search block (90 minutes) and a weekly networking block (two coffee chats or calls).
• Track applications in the crisis log: company, role, date, contact, follow-up date.
• If side income is available (contract, sale of unused gear), route it to the highest-APR debt or the emergency fund — pick one rule and stick to it.

Verifiable element

This worksheet modeled a hypothetical household with $4,200/month burn, $6,800 cash, two weeks severance ($2,100 net), and unemployment estimate $1,800/month starting week 3. Runway ≈ 7.8 weeks before any cuts — cutting subscriptions ($340/month) and switching to pantry-first meals (~$200/month food savings) extends runway past 10 weeks. Your numbers will differ; the worksheet is the point.

Key takeaways

• File unemployment in the same week as separation when eligible.
• Know your bare-minimum burn rate before negotiating hardship plans.
• Health coverage decisions have a clock — compare COBRA and Marketplace in week 2, not month 3.
• Pantry-first food planning is a lever you can pull immediately.