Losing a paycheck is jarring, but the next moves matter most. Pause, breathe, and set a simple goal for the next 30 days: cover essentials, keep accounts current where possible, and avoid new high-interest debt.

A clear plan prevents costly panic decisions and keeps you in control.

“When you’ve had a job loss, put your four walls first,” said Warshaw during an episode of her show. “That’s food, utilities, shelter, and transportation. In other words, you need to feed your family, keep the lights on, pay the mortgage or rent, and put enough gas in the car to get where you need to go.”

Map Cash

List every bill, balance, interest rate, minimum due, and due date. Next, total guaranteed income for the month: unemployment benefits, severance, side income, and cash on hand. Build a bare-bones budget focused on housing, utilities, food, transportation, insurance, and minimum debt payments.

Anything nonessential gets paused until stability returns.

Prioritize Payments

Protect shelter and transportation first, since losing either can derail a job search. For debts, use the avalanche method when possible—target the highest APR while paying minimums on the rest. If motivation is the struggle, try the snowball—clear the smallest balance first to create quick wins and free cash flow.

Tap Safety Nets

File for unemployment promptly; delays can cost weeks of benefits. Gather recent pay stubs, separation documents, and ID. Ask utility providers and internet/cell carriers about hardship plans, fee waivers, or payment arrangements. Check if loan servicers offer forbearance or deferment, and understand interest accrual before agreeing.

Call Lenders

Silence is expensive; communication saves money. Ask credit card and loan providers for a hardship program: lower APR, reduced minimums, or a temporary payment plan. Request that late fees be waived and that any assistance be reported as “on time” when allowed. Note the agent’s name, date, and the terms promised.

Cut Interest

If credit balances are manageable and credit is good, consider a balance transfer card with a 0% intro APR on transfers. Expect a fee of about 3% to 5% and a payoff window between 12 and 21 months. Divide the transferred amount by the promo months to set your exact monthly payment target.

Consolidate Smart

When multiple balances feel unmanageable, price a fixed-rate debt consolidation loan. A lower APR and a single monthly payment can create breathing room. Compare the total cost: origination fees, term length, and prepayment rules. If the rate isn’t meaningfully lower than current APRs, stick with targeted paydown instead.

Guard Credit

Automate minimums to avoid missed payments. Keep older cards open to preserve credit age and available limit, which helps utilization. If you accept forbearance, confirm how it will be reported to credit bureaus. Monitor your credit reports for errors and dispute any incorrect late marks quickly.

Trim Expenses

Slash recurring costs first: subscriptions, premium streaming tiers, box services, and unused memberships. Call insurers to raise deductibles or apply eligible discounts. Meal-plan and shop with a list to avoid impulse buys. Pause big projects and gifts; revisiting these later is easier than undoing high-interest charges.

Find Cash

Turn assets into runway: sell unused gear, electronics, or furniture through reputable marketplaces. Consider temporary gigs with predictable pay cycles. If severance is available, negotiate for continued health coverage or a lump sum that extends your runway.

Avoid early retirement withdrawals, which can trigger taxes and penalties plus reduce future growth.

Health Coverage

A lapse in coverage can be costly. Review options like employer continuation coverage or marketplace plans. Compare monthly premiums to worst-case out-of-pocket exposure and choose the plan that protects against a large unexpected bill while fitting your current cash flow.

Avoid Traps

Skip payday loans and any financing with triple-digit APRs. Be cautious with “buy now, pay later” if income is uncertain—missed payments can spiral into fees and collection calls. Don’t co-sign new debt for others while your own income is unstable. Decline add-on products you don’t need at checkout.

Renegotiate Bills

Everything is more flexible than it looks. Internet, streaming, software, and security services often have retention discounts—ask for promotional pricing or a temporary downgrade. For rent, propose a written plan: partial payments on set dates or a short-term extension, and follow through scrupulously to maintain goodwill.

Rebuild Plan

When income resumes, keep living on the lean budget for two to three extra months. Direct the surplus to finish your highest-APR debt, then build an emergency fund covering three to six months of essential expenses. Automate transfers on payday so savings happens before spending.

Your Next Step

A job loss changes the timeline, not the destination. Prioritize essentials, lower interest, and stay vocal with lenders. Which two actions—calling a creditor, applying for benefits, or building your 30-day budget—will you complete today to start turning the tide?