Here is the short and the long version. Rejecting a severance package almost never unlocks unemployment benefits you could not otherwise get. And accepting one almost never signs them away. What decides your eligibility is not whether you took the check. It is why you left, what your agreement says about why you left, and how your state treats the money once it lands.

Going through a layoff in your 20s, 30s, or 40s is stressful, don’t get me wrong. You may have little savings in your 20s or be responsible for a whole family’s expenses in your 40s. But a new type of worry pops up when you get laid off in your 50s or 60s. Am I ever going to work again?

Lately I have been seeing a flood of ads for new banking apps that break from the traditional accounts of the past. These are accounts where you earn points toward rewards, get savings rates double the national average, or use an app that makes banking fun. They are all intriguing options if you have been using traditional (and boring) banking, and the allure of higher rewards and free accounts can make anyone want to sign up. What these accounts do not come with is a warn

It seems that anything I want to do in life now requires a subscription of some sort. Even if I just want to use an app for a single day, it now requires a subscription. Then I have to remember to dig into my Apple Subscriptions and cancel before the free week ends, or I get charged. Annoying. That means a large chunk of my budget (and probably yours as well) is being eaten up by subscriptions.

Wait, sinking fund? Surely my emergency fund is enough? Or do those mean the same thing? This may be your first thought if you're hearing the word “sinking fund” for the first time. If you've already saved an emergency fund, good for you, only 47 percent of Americans have enough savings to cover a $1,000 emergency, according to Bankrate. But realizing you might need to save even more to be fully prepared for a job loss can feel daunting.

"When something looks too good to be true, it usually is" In most cases, that does hold true. Nothing in life is ever free, so no one is going to just hand you a check for money without asking for something in return. Normally that is true, but in trying to find out what happened to an old IRA of mine, I stumbled across MissingMoney.com.

Even if you have stumbled across this post and are not facing imminent job loss, this advice applies to anyone working today. American society has very few safety nets for job loss relative to those in other highly developed countries, and it will be on you to weather the storm. A cash cushion is the single most powerful tool for turning a financial shock (a layoff, a car repair, a medical bill) into a manageable inconvenience rather than a crisis that follows you for years.

Maybe you aren't as severely attached, but you at the very least view your phone as an absolute necessity. Not just for life, but for taking phone screening calls, browsing jobs on LinkedIn in your spare time, and combing through your email for what is hopefully not a rejection. So that means there is nothing to do about this expense, right?

After reviewing my COBRA benefits information, instructions for rolling over my 401(k), and details about the loss of my RSUs (ugh), I noticed one more document. It stated that my PTO would be paid out with my last paycheck from the company. What a welcome piece of news! I had not realized that my not going on vacation was going to give me a nice little bonus as I walked away from my job. Fast forward a decade. I was leaving another job, fully prepared to enjoy that PTO p

It feels that way since many people’s most expensive bill is their housing payment each month. And the worst part of that bill is that it can feel so out of your control. If you are locked into a mortgage for 30 years or just signed a year-long lease, that number can feel like a noose around your neck if you get laid off and have no steady income coming in.

I will admit it: I love to spend money. If I am bored and out and about in a city, I might start ducking into local shops to see if there is anything I “need” inside. If I hear anyone throw out the word “happy hour,” I am the first to ask when we are going. This desire to spend money to have fun is not actually a problem in some cases (experiences over things, for example), but it becomes a lot more difficult when there is no longer an inflow of money to speak of.

Groceries are also one of the first places people make cuts to their budget when trying to save money post-layoff. They are mostly right to do so as the average American family is spending roughly $1,000 a month on groceries. This is a huge amount to come out of your income each pay cycle.

In uncertain economic times, many people look at a closet full of luxury goods and feel a quiet sense of security. “If I get laid off, I can always sell my designer bags and watches,” is the story we are conditioned to believe, especially once luxury items get labeled “investment” pieces. It feels reasonable. Those pieces cost thousands of dollars, so surely they can be turned back into thousands of dollars when you need them.