Losing your job can turn your world upside down. Whether it was unexpected or something you saw coming, the financial worry that follows is very real. But you’re not alone — and there are steps you can take to steady yourself and protect your finances while you find your footing.
Here’s a gentle guide to help you manage your money after job loss, one step at a time.
1. 🧾 Check What You’re Entitled To
Start by finding out what benefits or financial support you might qualify for.
✅ Check these right away:
- Universal Credit – for help with living costs
- Jobseeker’s Allowance (JSA) – if you’re actively looking for work
- Council Tax Reduction – you may be able to pay less
- Help with rent or mortgage – like Housing Benefit or Support for Mortgage Interest
💬 Use the free Turn2us Benefits Calculator to see what you can claim.
2. 📉 Prioritise the Essentials
When money’s suddenly tight, focus on the basics first.
What comes first:
🏠 Rent or mortgage
💡 Gas and electricity
🍞 Food and essentials
🚎 Travel costs (if job hunting or interviews)
Contact providers early — especially landlords, mortgage lenders, or energy suppliers. Many have support schemes if you’re struggling.
3. 📊 Create a Bare-Bones Budget
It might feel scary, but facing the numbers gives you back some control. Write down:
- Your current income (benefits, savings, redundancy pay, etc.)
- Your must-pay expenses
- Anything you can pause or reduce (subscriptions, memberships, non-essentials)
💬 Not sure where to start? Use a simple budget planner like this one from MoneyHelper.
4. ☎️ Speak to Your Creditors
If you’re falling behind on credit cards, loans, or overdrafts — talk to your lenders before it gets worse. Many offer:
- Temporary payment plans
- Payment holidays
- Freeze on interest or charges
📍For free, confidential help, speak to StepChange or National Debtline.
5. 🧘 Be Kind to Yourself
This part is just as important. Losing a job isn’t a personal failure — it’s something that happens to thousands of people every year. You’re doing your best, and just taking these small steps means you’re moving forward.
🌱 Remember:
You’re not alone. Help is out there. And with time, things can get better.