That Makes Cents: Preparing for layoffs

Susan Powers, Financial Advisor, Registered Representative with Securities America Inc., Member FINRA/SIPC
"This will allow you the ability to write a check against the equity in your home. You will not be able to get a line of credit on your home if you're unemployed."

Reduce contributions to accounts that you will have trouble accessing like retirement or education funds.

Susan Powers, Financial Advisor, Registered Representative with Securities America Inc., Member FINRA/SIPC
"Put your money, instead, into a savings account that you can get to and keep it liquid."

Take a look at your paycheck.

Susan Powers, Financial Advisor, Registered Representative with Securities America Inc., Member FINRA/SIPC
"Consider changing the number of tax withholdings that you have. This will increase the amount that you receive each week in your paycheck."

And think about stock options.

Susan Powers, Financial Advisor, Registered Representative with Securities America Inc., Member FINRA/SIPC
"You want to cash in what you can because once you do lose your job you're not going to have the option to purchase that stock anymore."

Now that makes cents!

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