Here are 13 important steps to take if you lose your job due to the current COVID-19 pandemic:
- Apply for unemployment benefits.
- If you have emergency savings, now’s the time to tap into it.
- Look over your monthly expenses and find ways to cut back.
- If you have a mortgage, inform your lender and servicer.
- If you have student loans, suspend your payments.
- Get in touch with your bank.
- Stay away from payday loans.
- Communicate with your utility and service providers.
- You can use your retirement accounts — but avoid it if possible.
- Take advantage of community programs.
- Look at job postings.
- Be flexible about new opportunities.
- Pay attention to the news.
For details on all of these steps, please visit: https://www.bankrate.com/personal-finance/smart-money/what-to-do-if-lost-job-coronavirus/