RebelCapitalist: Financial Information for the Rest of Us

AFL-CIO: When the Paycheck Stops

Jan 14, 2010 | By: Mr_Blue | (0) Comments | Permalink | Tags: unemployment, afl-cio, unemployment insurance

The AFL-CIO’s website provides very valuable information about what happens when we become unemployed. Unfortunately, a very real prospect in our current economy. Please be prepared and good place to start preparing for the possible is by checking out this site.

AFL-CIO provides a valuable service to workers with this page and a very informative booklet called - When the Paycheck Stops. This booklet provides some important advice such:

Step 1 Prepare a Complete Household Budget: Getting control of your personal finances is important to survive unemployment. Use a household budget worksheet to see where you spend your money and where you can save. Do this as a family project.

Now, this information is provided with union members in mind but this information easily applies to all workers regardless of union membership. Being prepared for the possible is key. One other thing: because of the average length of unemployment is increasing, we may have to reconsider whether having 6 months of emergency funds in the bank is enough. We may have to look at 9 to 12 months worth of emergency funds.

Another resource is the U.S. Department of Labor. They provide information regarding unemployment insurance and provide links to state websites. States have different rules and eligibility for unemployment insurance.

Good luck.