Financial tips for managing unemployment and layoffs

Many Americans are facing job layoffs, with recent cuts at GM, Amazon, and UPS, alongside furloughed federal employees. In such situations, it's crucial to file for unemployment, assess health insurance options, manage expenses, and prioritize essential needs. Financial instructor Michael Masserant advises reviewing COBRA for health coverage, budgeting carefully to extend savings, and negotiating with creditors to manage debts without harming credit.