I just found out I'm being laid off tomorrow and any advice from someone who's been in the same boat would be greatly appreciated. Normally I wouldn't be so worried but here's some info about my situation:
I was laid off last august and out of work for about 4 months (I'm an electrical engineer) so I used up most of my savings at that time.
I started working again in November, then in April was offered my current position so I took it and used the remainder of my savings to move (my company paid for relocation but the first/last/deposit is what drained the rest). I'm making decent money now but have only had about 6 months to start building up my savings again so I don't even have one month's expenses, and unemployment isn't going to be much.
Part of the reason I haven't saved as much as I'd like is because of my student loans. My minimum payment is $260/mo but I've been paying about $400/mo just depending on how my month goes. My credit isn't great because of the past years that I struggled to make these payments but I've worked very hard the past year or so to bring my score up so I'd like to avoid damaging it. I do plan to get a deferment now that I'll be out of work.
The one thing I have going for me is my rental history and I'd like to keep that blemish free if possible. I was already planning to move into a smaller house when my lease is up in April so that I can save more/pay more toward my loans. I'd hate to break my lease but I don't really know my options in that area yet. Because of certain family obligations an apartment is not an option, which is fine because housing is relatively cheap in my area.
I have no other debt.
My plan so far is to just find another job as quickly as possible but I don't think that's a great plan. What I'm mostly looking for is advice on ways to save money in the meantime (things like loan deferments, utility discounts) and ideas for side jobs and anything else I may not be thinking of.
Thanks in advance.
Submitted September 21, 2017 at 03:46PM by throw-a-way_12345 http://ift.tt/2xVhUxn
