--- title: "Laid Off? What to Do About Money in the First Week" description: "Just lost your job? File for unemployment right away, check final pay, keep health coverage, call your bills and protect savings. A first-week list." url: https://neededcash.com/situations/lost-job/ updated: 2026-10-10 site: NeededCash --- Just lost a job # Laid off: a money checklist for the first week The first few days after a layoff set up the next few months. Do these in order, and file for unemployment before anything else. Quick answer File for unemployment insurance with your state right away, since benefits generally start from when you apply. Check that your final paycheck, unused paid time off and any severance are paid as your state requires. Decide on health coverage: you can usually elect COBRA within 60 days or get a Marketplace plan through a special enrollment period. Then call lenders and landlords before the next due dates. **On this page** 1. [ Day 1 to 3](#s-day-1-to-3) 2. [Day 4 to 7](#s-day-4-to-7) 3. [If money runs out before benefits start](#s-if-money-runs-out-before-benefits-start) 4. [Common questions](#s-questions) ## Day 1 to 3 1. **File for unemployment.** Use your state's site; CareerOneStop links to every one. Have your employer's name and address, dates worked and your reason for separation. 2. **Get your paperwork.** Ask HR for your separation notice, final pay details, severance terms and benefits end dates. 3. **Check your final paycheck.** States set when it is due and whether unused vacation must be paid out. The Department of Labor links each state's rule. 4. **Look at health coverage.** COBRA keeps your plan at full cost; a Marketplace plan may cost less with subsidies based on your new income. ## Day 4 to 7 1. **Build a bare-bones budget.** List only essentials. Our [emergency fund calculator](https://neededcash.com/money-tools/emergency-fund-calculator/) shows your monthly floor. 2. **Call your bills.** Ask lenders, card issuers and utilities about hardship programs before you miss a payment. 3. **Apply for help you now qualify for.** With less income, SNAP, Medicaid and utility assistance may be open to you. 4. **Protect retirement savings.** Cashing out a 401(k) can mean taxes and a 10% early withdrawal penalty if you are under 59 and a half. Rolling it over keeps it intact. ## If money runs out before benefits start Payments can take a few weeks after you file. Tell creditors when you expect your first payment. A nonprofit credit counselor can help you plan the gap. ## Common questions ### How soon can I file for unemployment? Right away, usually the first week after your last day. Most states require a waiting week, and payments generally start from your filing date, not your layoff date. ### Can I get unemployment if I got severance? It depends on your state. Some reduce or delay benefits while severance is paid; others do not. Report it when you file. ### Should I use COBRA or a Marketplace plan? COBRA keeps your doctors and plan but you pay the full premium. A Marketplace plan may cost much less with lower income. Compare both before your 60-day COBRA election deadline. ## Where these facts come from - [CareerOneStop (DOL): file for unemployment in your state](https://www.careeronestop.org/LocalHelp/UnemploymentBenefits/find-unemployment-benefits.aspx) - [U.S. Department of Labor: unemployment insurance](https://www.dol.gov/general/topic/unemployment-insurance) - [U.S. Department of Labor: last paycheck](https://www.dol.gov/general/topic/wages/lastpaycheck) - [CFPB: Your Money, Your Goals budgeting tools](https://www.consumerfinance.gov/consumer-tools/educator-tools/your-money-your-goals/) - [NFCC: nonprofit credit counseling](https://www.nfcc.org/) Sources checked October 10, 2026. Programs and rules change; confirm details with the agency or company before you act. ## Disclosures **Not a lender.** NeededCash.com is not a lender, loan broker, or agent of any lender and does not make credit decisions. We operate a free matching service that shares the information you submit with participating licensed lenders and lending partners, who may contact you with an offer and who pay us a referral fee. **Rates and terms.** Each lender sets its own rates, fees, and terms and will disclose them in writing as required by the federal Truth in Lending Act before you sign. Personal and installment loans from lenders in our network typically carry APRs from about 5.99% to 35.99% with terms from 3 to 84 months. Representative example: a $5,000 loan over 36 months at 15.99% APR has 36 payments of $175.76 and a total cost of $6,327.36. ## Keep going - [Furloughed](https://neededcash.com/situations/furloughed/) - [Which bills first](https://neededcash.com/situations/which-bills-to-pay-first/) - [Emergency fund](https://neededcash.com/money-tools/emergency-fund-calculator/) --- Canonical page: https://neededcash.com/situations/lost-job/