Surviving a Spouse’s Layoff

Have a family meeting to explain the situation matter-of-factly, she advised (see "Surviving a Layoff: Ways to Save"). Also, investing in a financial counselor might be a good way to help stretch savings.

Financial counselors charge $100 to $200 an hour to help families live within their means.

Above all, Bross notes that it’s important to realize that the struggles – financial and otherwise – experienced during a layoff can still result in positive long-term habits and attitudes.

"Getting laid off is just what happens these days," she says. "The more you treat it as something that happens in an unloaded way and speak about it in that manner, your kids will see it that way, too."

Prepare for the Future

At 64, Allen Sunde has some tips to offer the younger generation fearful of layoffs, especially since he endured two of them during his 30 years in the airline industry.

Take advantage of these breathing periods, he urges, especially if they might be longer than expected – by brushing up on your education. Not only can it give you a sense of proactive control over the situation, but it can make you more marketable to an employer.

And while it can sometimes sound like a broken record, Sunde stresses the importance of saving money, even if it’s just a little at a time. When he was first laid off, Sunde was starting a new family with his wife. Fortunately, she was already working, but they incurred a lot of debt to survive.

During his second layoff in his 40s, the financial impact was less stressful, primarily because they were better prepared with a solid savings foundation.

Sunde also cautions that the older you get, the more you’ll have to compete with younger people for the same job, which can make the period after a layoff even longer. A strong savings during these times is essential.

"When times are good, that’s the time to save," he says. "So many people live for the moment."

In dealing with the emotional sting of a layoff, Sunde credits a change in attitude with helping him cope.

"I decided I was no longer working for United Airlines. I was working for myself," he says.

"It was for my own satisfaction and that really helped me. And I don’t know if it was arrogance or protection."

Hindsight may be 20-20, but most of the families we interviewed reflected on their layoff experiences as something that honed the strength of their marriage and family."It was tough at that time, but you just work through it and life goes on," says Claire. "It definitely strengthened us. I feel now that I can weather anything."

* Names changed for privacy purposes

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