Layoffs And Money With A Buzz.
Every day I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work. So, here I sit thinking about money, and budgeting. Then I have a thought that a budget is just a method of worrying before I spend money, as well as afterward. On the other hand, having a budget is important, and there may be no other time when a budget is of more importance that when you become unemployed. The loss of a job can drain you both emotionally and financially. Below you will find resources to help you manage debt, avoid foreclosure, cut expenses, avoid scams more.
Credit and Debt Help.
Paying off or keeping up with large amounts of debt can be difficult when you are unemployed. Learn more about your rights and what to do if you are over your head in debt.
|Find A Local Credit Counselor
There are credit counselors near you. Search for a local credit counselor.
Dealing with creditors can be difficult and stressful, especially after the loss of a job.
Reputable credit counselors can advise you on managing debt and help you budget.
Advantages and disadvantages of debt consolidation.
If you are overwhelmed by debt, learn about some of the options available to you.
Credit cannot be repaired overnight. Learn how to help yourself and how to spot scams.
Avoiding Fraud and Scams.
Fraudsters specifically target the unemployed. Avoid becoming a victim of a scam or fraud by learning about the latest scams.
|Financial Fraud Alerts
Local financial fraud alerts from the Department of Financial Institutions.
Local consumer alerts from the Washington Office of the Attorney General.
|Alerts from BBB
Alerts from the local Better Business Bureau.
Foreclosure is a stressful situation for those who must go through it. If you are having trouble making your monthly mortgage payment, seek help right away.
|Foreclosure & Homeownership Counseling
Counseling is available if you are having trouble making payments.
Information about foreclosure and possible alternatives.
|Beware of Foreclosure Rescue Scams
Information about foreclosure rescue scams and what to look for.
Be cautious of someone offering to help modify the terms of your home loan.
One of the first things you need to do when you lose a job is cut spending. Find creative ways to cut costs on utilities, groceries, entertainment, etc.
|66 Ways to Save Money
66 ways you can start saving money today!
Tips on how to save money when grocery shopping.
Tips on how to save on your energy bill.
Tips on how to save on your utility bills.
|Save Money at The Gas Pump
How to save on gas.
Ideas on how to save money on entertainment.
Tips on how to save money.
Resources and tips on how to save money.
Budgeting and Managing Money.
Managing money while unemployed can be difficult. Learn more about managing money during tough times and how to set up a tight budget.
|Tips for Managing Your Money (PDF)
Tips on how to manage money during tough economic times.
Interactive budgeting worksheet.
Tips on how to build a tight budget from Today Show contributor, Jean Chatzky.
You can save money – even on tight budgets.
Retirement Accounts and Health Care Coverage.
Many unemployed workers worry about their retirement and insurance coverage. Learn more about what happens to your retirement and insurance coverage after a job loss.
|WA Department of Retirement Systems
Retirement information for Washington State public employees.
Information about making smart financial choices after a job loss.
Q&A’s about retirement and health care coverage for dislocated workers.
|Health Coverage and Retirement Benefits
Helpful information about health care coverage and retirement benefits.
Fact sheet on how an employer’s bankruptcy will affect your benefits.
Tips on protecting your pension and health care benefits after a job loss.
The loss of a job can create new tax issues. Learn more about filing taxes while unemployed.
|Financially Distressed Taxpayers
The IRS recently announced new steps to help financially distressed taxpayers.
Tax Impact Of Job Loss (PDF)
The loss of a job may create new tax issues for you. Learn more from the IRS.
Information from the IRS about unemployment compensation.
|VITA Program: Free Tax Help
Help for low- to moderate-income people who cannot prepare their own tax returns.
The EITC is a refundable federal income tax credit for low to moderate incomes.
Your rights as a taxpayer
Buzz Smith is SR Curmudgeon and VP Consulting Services For OPI National Outplacement. OPI National Outplacement and Career Transition Services is Headquartered in Knoxville, Tennessee. Buzz can be reached at 865.531.9154