Job on the Line? 5 Powerful Financial Moves to Stay Secure and In Control

The possibility of losing your job can feel like the ground beneath you is shaking.  It’s hard to avoid the headlines—recent layoffs at the CDC in Atlanta or the ongoing unpredictability surrounding the Department of Government Efficiency’s actions.  No one expects their career to be disrupted, yet in today’s climate, no job is ever truly “safe.”

If you’re in a position where termination is a possibility—whether due to company restructuring, government budget shifts, or industry downturns—you must take control of your financial situation now.  While uncertainty is unsettling, you have more power over your future than you may think.

Step 1: Protect Your Cash Flow—Now

When job stability is in question, cash is king. You need to assess, adjust, and take control of your spending now, before any disruption occurs. Here’s how:

🔍 Audit Your Spending

Look at the last three months of bank and credit card statements to track exactly where your money is going. Categorize your expenses into:
✔️ Essentials: mortgage/rent, utilities, groceries, insurance, healthcare, childcare
✔️ Nice-to-Haves: dining out, subscriptions, shopping, travel
✔️ Hidden Expenses: unused memberships, auto-renewals, impulse purchases

✂️ Trim the Fat Without Sacrificing Comfort

Once you've identified unnecessary spending, start scaling back:
🔹 Pause or downgrade subscriptions (streaming services, gym memberships, delivery apps).
🔹 Refinance or negotiate lower rates on insurance, credit cards, or loans.
🔹 Cut back on convenience spending (meal deliveries, premium coffee runs, luxury services).
🔹 Delay major purchases (electronics, cars, furniture) until your job security is clearer.

💡Strengthen Your Emergency Fund

If you don’t already have 6–12 months of expenses set aside, start funneling extra cash into savings. Consider:
✔️ Redirecting what you save from cutting expenses into a high-yield savings account.
✔️ Temporarily pausing aggressive investing (except for employer-matched 401(k) contributions) to build liquidity.
✔️ Looking into a home equity line of credit (HELOC) or other financial safety nets before they’re needed.

🚀 Take Action: The more financial flexibility you create now, the more confident and in control you’ll feel—no matter what happens next.  Let’s work together to refine your cash flow strategy and ensure you're prepared for any transition.

Step 2: Know Your Benefits & Severance Rights

If your employer is considering terminations, arm yourself with knowledge now.  Understanding what benefits and protections you have can make a significant financial difference if you’re let go.

📜 Review Your Severance Package

Does your employment contract guarantee severance pay?  If so, how much?

Is severance negotiable?  You may be able to request an extension or additional benefits.

Will you be paid out for unused PTO, bonuses, or commissions?

🩺 Evaluate Your Employer-Provided Benefits

Losing your job could also mean losing access to key benefits like health, life, and disability insurance.  Prepare by:
✔️ Checking if your employer offers COBRA continuation for health insurance and how much it will cost.
✔️ Exploring spousal coverage options if you’re married.
✔️ Understanding what happens to your life and disability insurance—some policies can be converted to individual plans.
✔️ Reviewing your Health Savings Account (HSA) or Flexible Spending Account (FSA) to maximize your contributions before you leave and submit reimbursements for qualified expenses.

💰 Stock Options, Retirement Accounts & Bonuses

If you have stock options, RSUs, or a retirement plan, find out:

• Are you vested?  What happens to unvested shares if you leave?

• Can you exercise stock options after termination?

• What happens to your 401(k) or other retirement plans?  It’s important to understand your options if you leave.

🚀 Take Action: Knowledge is power—and in this case, it’s also money.  If you’re unsure about your benefits or severance terms, let’s review them together to make sure you get everything you’re entitled to. Don’t leave money on the table!

Step 3: Maximize Your Financial Safety Net

This is the time to:
🔹 Hold off on major financial commitments. If you were planning to invest in a new business, real estate, or significant market positions, consider waiting until your job situation stabilizes.  Large financial moves often come with risk, and right now, liquidity is your best friend.

🔹 Delay major life purchases (a new car, home renovations, luxury items) unless absolutely necessary.

🔹 Work closely with your financial advisor.  Collaboration is key in uncertain times.  Together, you can review your portfolio, optimize cash flow, and create a strategy that ensures financial stability while keeping you positioned for future opportunities.

🚀 Take Action: If you don’t have a financial safety net strategy, now is the time to build one.  Let’s talk about creating a personalized plan that protects your wealth, no matter what happens next.

Step 4: Update Your Resume, Network Like It’s Your Job

Even if you don’t lose your job, preparing now puts you ahead of the game.
🔗 Update your LinkedIn profile and reconnect with past colleagues.
📧 Reach out to industry contacts and explore potential opportunities.
📆 Work with a career coach to strategize your next steps.

🌟 Remember: Losing a job doesn’t mean losing your worth. Your skills, experience, and value remain intact—and this may be the push toward an even better opportunity.

Step 5: Make Smart Financial Moves While You Have Leverage

While you’re still employed, take advantage of:
✔️ Maxing out retirement contributions (401k, IRA) before potential changes in income.
✔️ Negotiating a retention bonus if leadership wants to keep you temporarily.
✔️ Exploring other income streams—consulting, freelancing, or side businesses.

You Have More Control Than You Think

A potential job loss is a crossroads—but it doesn’t have to be a crisis.  The best thing you can do right now is to act, not react.  Take proactive steps, build your financial resilience, and set yourself up for success—no matter what happens next.

📩 Let’s Talk About Your Financial Future
If your job security is uncertain, let’s create a financial strategy today that keeps you secure tomorrow.  Book a call with me—because your financial confidence shouldn’t depend on anyone’s decision but your own.