I was grateful for the kick-in-the-pants to finally go it alone.

#AskFarnoosh: “I got laid off. Now what?”

This scenario happens to the best of us. When I got laid off in 2009 it was in the thick of the financial recession. My chances of finding another position similar to the one I’d lost (and with a similar salary) were slim. It was then that I decided to do the inevitable – join the ranks of the self-employed. I’d pondered making the move several months prior, always too frightened to quit my job and make the leap. How would I afford health insurance? What if I didn’t make money for several weeks or months?

Now with a pink slip in hand, the decision had been made for me. And I was grateful for the kick-in-the-pants to finally go it alone.

I was fortunate to receive about four weeks of severance. I also had a savings cushion to pad my bank account for several months, as well.

Still, I had to follow many of the following steps to get my financial ducks in a row and avoid falling behind on bills.

Check out my advice over on the Mint blog.

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Ask Farnoosh

“My fiancé has student loan and credit card debt. I’m the breadwinner in our relationship and have zero debt. I’m going to help him pay it off the next few years but how do we prioritize the debt? And what do you think about prenuptial agreements?”

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