How to manage your finances if you get laid off

Finding yourself unemployed can be frightening. But if it happens, try not to panic.

Instead, figure out how to survive financially in what could be a long period looking for work.

"Take a personal inventory," said Gail Cunningham, spokeswoman for the National Foundation for Credit Counseling. "Consider all assets, income and expenses. Hopefully, you will not have to liquidate any assets to survive, but it is good to know what you have to fall back on."

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