Out of work...

[David]

Build an emergency cash fund as quickly as possible. I can't stress the importance of that enough. Layoffs can hit any sector, any department.

It's also important to create a household budget. Everyone hems & haws about budgeting, but that's the only surefire way of knowing what you spend every month. Write down EVERY expenditure during the month, add it up, & compare it with the income from the same month. What you spend vs. what you earn is as plain as day, & many people find it a real eye-opener.