Issue #3 — Your Financial Gut-check Week.

Budget, benefits, and a brutally honest look at your runway.

Author

Win Raguini
July 08, 2025

Hello friend,

This week, we’re diving deep into what may be the least fun but most necessary part of being laid off: getting uncomfortably honest with your finances. Inspired by Teal’s fantastic Ultimate Layoff Playbook, we’re breaking down your financial healh status after the layoff.

There’s no easy way to say this: what you do over the next few days could determine how long you stay afloat, how much stress you carry, and how free your future self will feel. So let’s go.

💸 1. Get Real with a Budget (Use This Tool)

Your first financial task is building a new, brutally honest budget.

Teal offers a fantastic budget calculator that’s tailor-made for layoff scenarios. Click on the “Copy Tool” link at the top right of the calculator to make your own personal copy to begin editting the fields.

Plug in:

  • Your savings + severance (if any)

  • Unemployment benefits

  • Side gig income

  • All monthly expenses

Then tweak the numbers to see how long your current savings will last. This is your runway—your number of months (or weeks) until you’re out of cash.

Knowing this number gives you freedom. It tells you how urgent your job search needs to be, whether you need to take on freelance work, or if you have room to breathe.

Equifax offers some advice on how to adjust your budget after a lay-off.

Understand Your Runway

If it’s less than 3 months: red alert. Start trimming expenses now and consider freelance work or part-time gigs.

If it’s 3–6 months: cautious comfort zone. You’ve got time to be selective, but you still need to act.

If it’s 6+ months: breathe. You have options. Still, don’t waste this time.

🧾 2. File for Unemployment ASAP

Many states start benefits from the date you apply—not the date you were let go. So don’t wait.

You’ll need:

  • ID & SSN

  • Your former employer’s info

  • Pay stubs or wage history

The Balance recommends starting with your state’s unemployment office website to check exact eligibility rules and download a checklist before applying. Eligibility typically depends on your recent work history, the reason for separation, and whether you’re available and actively seeking new work.

Once you apply:

  • Expect to certify your status weekly or biweekly (confirming you're still job hunting).

  • You may have to complete job search logs or reemployment workshops.

  • Set reminders to avoid missing these check-ins—missing one can delay or cut off your payments.

If your claim is denied, you can appeal. Most states allow you to submit documentation and request a hearing. Don’t take no for the final answer.

Links for more help:

Don’t delay this—it’s the first and most immediate lever to extend your financial runway.

🧰 3. Review & Reclaim Benefits

You likely have benefits that expire quickly or need action:

🧑‍⚕️ FSA / HSA

🧓 401(k)

📈 Equity

🧬 Life Insurance

This might not seem urgent, but every forgotten benefit is money left on the table.

📬 4. Confirm Your Mailing Address

Your former employer may need to send tax forms, checks, or benefits docs. Make sure they have your updated address before you lose access to your company email or HR portal.

🧑‍💻 5. Start Small with Gigs

Start browsing freelance platforms or part-time work even before you lock in your next full-time role. A few small wins can:

  • Extend your runway

  • Boost your morale

  • Help you test new directions

Try: Upwork, Contra, Fiverr, LinkedIn Gigs, or even asking your network.

Teal recommends other resources for finding ways to make money while continuing your search, and who knows, you may find something that you’ll like better than your previous career path:

🧭 Final Word

This week is not about panic. It’s about power.

The more clarity you have around your financial situation, the more strategic (and less desperate) your next steps will be.

It’s OK to feel overwhelmed. But it’s not OK to stay in the dark. You got this.

—Win

🙋‍♀️ HIRING FROM THE COMMUNITY

Coming soon! We’ll be sharing job leads from trusted folks once they start rolling in.
👉 Submit a lead →

💬 COMMUNITY SPOTLIGHT

If you’ve recently been laid off and want visibility, we’d love to spotlight you.
👉 Fill out this short form →

📬 What’s Coming Next

In future issues, you’ll get:

  • Layoff roundups

  • Job leads from the community

  • Templates + tools

  • Survivor stories

  • Mindset shifts

  • Alternative income ideas

  • And more quick wins like this one

This is just the beginning. We’re building something real here — together.

✌️ Until Next Week

Keep going.
Keep breathing.
You’ve got this.

— Win
Fellow layoff survivor, creator of Let Go Weekly