I’ve been laid off 3 times in 10 years. These 4 money moves helped me stay afloat financially

The U.S. job market has taken some hits in recent months, and the nation is feeling it. Less than half (45.9%) of Americans are optimistic they could find new work within three months if they were laid off, according to the New York Fed's March 2026 Survey of Consumer Expectations. 

I've been laid off 3 times in 10 years — twice in my early 20s and most recently in the fall of 2025, when I was 33. While each layoff presented unique challenges, they all helped me develop financial strategies I keep in my back pocket today.

I also learned self-care practices to support my emotional, mental and physical well-being during these transitional periods.

While my strategies aren't one-size-fits-all, they apply to a variety of financial situations.

After each layoff, I took a few days to process my emotions. Within the first week, though, I'd make a point of evaluating my finances and preparing for weeks (or months) without a steady paycheck.

My now-husband, Sam, helped cushion the financial blow, but it's always been critical for me to pull my own weight. I looked at my checking and savings accounts to see what funds I had available and combed through my credit card statements for nonessential subscriptions. I also reviewed my severance package and unemployment insurance benefits to get a handle on what income I'd have coming in. 

Armed with that information, I drafted a rough outline of what I could realistically contribute to rent (which I split with Sam), student loans, car payments and other essentials. 

Admittedly, a good budgeting app would have streamlined the process. Monarch has intuitive navigation and lets you customize your dashboard, so you always see what's most important first. PocketGuard's free tier helps prevent overspending by sending alerts if you're near or over your limit in one of your customizable categories.

I was lucky enough to get severance pay with all three of my layoffs. The first two times, I only received a few weeks' pay, so I put anything that didn't go toward bills into a Bank of America Advantage Plus savings account.

Keeping my checking account balance low and transferring funds as needed created mental and physical barriers that kept me from making unnecessary purchases.

When I was let go in 2025, Sam was working his current job and my severance was more generous. So, I decided to put most of it in a high-yield savings account, where it could earn more than ten times the APR of a traditional savings account while still remaining fairly liquid.

I chose an Ally HYSA, which has no maintenance fees and no cap on its elevated APR. It also has "savings buckets" to organize funds for specific goals.

Sam and I had bought a house in the suburbs just a month before I was let go, so our emergency fund was depleted. We were relieved to have a cash reserve again.

When I was in between jobs in my early 20s, I revisited my college gig as a babysitter. I also reached out to my network and lined up writing and fact-checking work that provided extra money and kept my editorial skills sharp. 

In 2020, I fulfilled a long-time personal goal and got certified as a group fitness instructor, so when I got laid off last fall, I increased my class schedule. It was indispensable to my financial, physical and mental health: Not only did I have more money coming in, but I had a free way to work out and was able to maintain a routine while I figured out my next move. 

A side hustle can be a smart move, no matter your employment status. You can sign up as a dog walker with Rover, assemble furniture through TaskRabbit or pick up some freelance work on Upwork. Before taking on any job, though, research how the additional income could affect your unemployment or severance.

I'm an extrovert, so I knew I couldn't completely sacrifice my social life without sacrificing my sanity. I did swap a few things to make activities more affordable: Instead of eating out with a friend, for example, I invited them to come over for dinner.

If someone wanted to work out and go to brunch, I'd suggest a jog, followed by a cup of coffee.

It was important to me to open up to close friends about each layoff. People met me where I was financially, which helped me maintain a sense of normalcy. 

After my most recent layoff, I wanted to visit my best friend, Anisha, in Los Angeles. But with a new mortgage to pay and our cash flow halved, I didn't feel comfortable allocating funds for a plane ticket. 

Fortunately, my flight was covered from points I had accumulated on my Chase Sapphire Preferred (see rates and fees) card, which lets me transfer points to book with partner airlines like United, JetBlue and British Airways. (It also comes with comprehensive travel insurance and other great perks.)

Since my airfare was covered and I stayed with Anisha, I only spent about $300 total.

During my job hunt, I hoped for the best but still planned for the unknown. Among other things, that meant being strategic about how I spent my money, funneling extra funds into savings and growing a revenue stream. 

I started my new job as audience development editor at CNBC Select in February, less than four months after my last layoff. Since then, I've renewed monthly subscriptions, scaled back on training and started planning trips again.

I still put any leftover money into my HYSA, though, and think twice before splurging. I'm not living in fear of losing my job again, but I want to stay prepared if and when another financial setback comes knocking.

At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice to help them make informed financial decisions. Every personal finance article is based on rigorous reporting by our team of expert writers and editors. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties. We pride ourselves on our journalistic standards and ethics.

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