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How to Deal with Job Loss

Losing a job can leave you feeling frozen and directionless. Luckily, Alltru can help.

There are times when losing one’s job doesn’t come as a big surprise. There are signs that a layoff is imminent, and while it may rattle your nerves, the benefit of being able to prepare for it is invaluable. Often, though, having to go without a paycheck is unexpected and can knock you off your feet.

If you just lost your job or you’re not getting paid because of a situation like a government shutdown, there are certainly a lot of things running through your mind. How will you pay your monthly bills? How are you going to buy groceries without a paycheck?

Here’s a simple strategy for moving forward, whether you’ve just lost your job or you’re currently on going without a paycheck:

  • Determine how long your financial resources will last. If you need help, with figuring that out, check out our online learning center. It has a lot of free and easy to use resources for budgeting and saving. Or you can also make an appointment to come in and talk to one of our member service representatives. We’re happy to help.
  • If possible, try not to deplete your savings or increase your debt. First, create a budget that allows you to cut down on your expenses as much as you can.
  • If you do need financial assistance to talk to your credit union to see if they can help. At Alltru, we offer our members loan payment flexibility to help ease their financial burdens.

If that isn’t your situation, but you’re still dealing with the loss of a paycheck, we want to help. Call us at 636-916-8300 and let’s see what we can do.

While an unexpected job loss can be an overwhelming life-changing event, it is possible to successfully recover.

Until the next time,

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