Advice

1. Revisit your budget
2. Consider alternative housing options
3. Prioritize emergency savings
4. Pay Off Debt
5. Consider your health insurance options
6. Look at your mortgage
7. Review your cell phone bill
8. Network, network, network
9. Avoid draining retirement accounts
10. Find some additional income source
11. Apply for unemployment benefits
12. Establish a HELOC

Take Away: There are simple, and more complex, steps you can take to put yourself in a position where you can withstand a furlough, pay cut, or lost job. Many of these consist of sound financial principles at all times, whether the economy is expanding or contracting. 

Resources:

Greenway’s Spending Plan

Greenway’s Goal Setting Workbook