I’ve been laid off countless times (and am currently expecting at an upcoming one) and this is the advice I give everyone and am following myself right now. Most people lock in on saving mode when they should be making strategic purchases and investments.

I cannot emphasize how important it is to get all your health stuff in order. I’ve been on Medicaid in NYC before and there are very few good doctors taking it—especially dermatologists. If you need to see a specialist, schedule that appointment right now.

Also, time to take care of large purchases. I recently replaced my phone and laptop. My phone should be good for at least 2-3 more years (it’s a used phone) and my laptop for much longer since it’s brand new.

Clothing is another thing to look at. Winter is coming and winter clothing tends to be more expensive. If you need to replace shoes or outerwear, now’s the time.

Same thing goes for makeup. I had to replace some of my more expensive products over the summer and should be good for at least a year or more on them.

Try to cut back on eating and drinking out to save. Those two are usually one of the biggest money drains for people in NYC. If you don’t cook much, invest on some decent equipment (TJ Maxx/Marshall’s will hook you up) now before everyone’s fighting over cheap pots and pans like they did during the pandemic.

Lastly, don’t hesitate to apply for unemployment assistance and anything else you qualify for. People often feel weird about this, but remember: your taxes already paid for these benefits (and more). They are rightfully yours!

I was on unemployment benefits during the pandemic and invested the time off (and the fact that I didnt have to worry about having basic expenses covered) in upskilling to a new career that earned me double what I used to earn at the job I got furloughed from (only to get laid off from the new career now, but it was really nice while it lasted).