Over the last seven weeks, more than 33 million Americans have filed for unemployment. Many more have had their hours or their pay cut at work. Dealing with the loss of wages or your job can be incredibly stressful – I was laid off in 2008 during the financial crisis, and remember how challenging it was.

You’re probably feeling overwhelmed if you were recently laid off and don’t currently have a job. Job loss is painful, and it can be difficult to cope with the stress of a layoff while figuring out your next move. The first thing you should do if you’ve been let go is file for unemployment. You can do this by filing a claim with the unemployment insurance program in the state where you worked. Depending on the state, claims may be filed in person, online, or by phone. But if you’ve already done that, maybe you’re not sure what to do next. Navigating job and wage loss can be difficult, but having been through it myself, I have some tips to share to make this transition a bit easier.

Evaluate your cash on hand
Cash is your first lifeline as you consider your next steps after being laid off or having your pay reduced. If you have an emergency fund (which might be in the form of cash, investments, or a mix of the two depending on the factors described in this blog post), now is the time to use it. Assess how much cash you have and how long it will last if you have to use it to cover your expenses.
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