Losing a job: the money checklist.

Read the severance before signing

Severance agreements trade money for releases and sometimes non-competes. Numbers are often negotiable, especially weeks-per-year and the healthcare bridge.

Pick the health-coverage bridge deliberately

COBRA keeps your plan at full cost; the ACA marketplace with a suddenly-lower income often costs far less. Job loss opens a special enrollment window. Price both.

Cut to the survival budget the same week

Pause the optional lines before savings drain, not after. Most households can drop 20–30% of spending without touching anything essential.

Don't cash out the 401(k)

Early withdrawal costs taxes plus penalties and future compounding. Roll it over or leave it; touch it last, after taxable savings.

Call lenders before you miss a payment

Hardship programs, forbearance, and due-date moves exist, but almost all of them require asking before the delinquency, not after.

Know your runway to the week

Cash on hand divided by the survival budget. That number decides how selective the job search can afford to be. Update it weekly.

Mind the taxes on the way out

Severance and unemployment are both taxable; a mid-year exit sometimes means over-withholding you can recover. A rough projection now prevents an April surprise.