How I Survived Three Layoffs in 10 Years

Smart budgeting and a side gig helped this writer weather repeated job losses.

Apr. 10, 2026 at 7:27pm

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A highly detailed, cinematic close-up of the intricate inner workings of a bank vault or ATM, conveying the weight and security of financial institutions without using any literal currency or charts.As job losses continue to impact the economy, smart financial planning and a diversified income stream can help individuals weather unexpected periods of unemployment.Los Angeles Today

After being laid off three times in 10 years, a CNBC Select writer shares the financial strategies that helped her stay afloat, including budgeting, building an emergency fund, and taking on a side hustle.

Why it matters

Layoffs are a common occurrence in today's job market, and having a plan to manage your finances during periods of unemployment can make all the difference. This story provides practical tips that can help others weather unexpected job losses.

The details

The writer, Nicoletta Richardson, was laid off twice in her early 20s and most recently in 2025 at age 33. After each layoff, she would take a few days to process her emotions before evaluating her finances and preparing for weeks or months without a steady paycheck. She looked at her checking and savings accounts, reviewed her severance package and unemployment benefits, and drafted a budget to cover essential expenses. The writer also took advantage of her severance pay, putting any leftover funds into a high-yield savings account. To supplement her income, she returned to her college gig as a babysitter and increased her work as a certified group fitness instructor. The writer also made adjustments to her social life, swapping expensive outings for more affordable activities.

  • The writer was laid off three times in the past 10 years, with the most recent layoff occurring in the fall of 2025.
  • The writer started her new job as audience development editor at CNBC Select in February 2026, less than four months after her last layoff.

The players

Nicoletta Richardson

A writer who has been laid off three times in the past 10 years and shares the financial strategies that helped her stay afloat during those periods of unemployment.

Sam

The writer's now-husband, who helped cushion the financial blow of her layoffs.

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What they’re saying

“After each layoff, I took a few days to process my emotions. Within the first week, though, I'd make a point of evaluating my finances and preparing for weeks (or months) without a steady paycheck.”

— Nicoletta Richardson, Writer

“I was lucky enough to get severance pay with all three of my layoffs. The first two times, I only received a few weeks' pay, so I put anything that didn't go toward bills into a Bank of America Advantage Plus savings account.”

— Nicoletta Richardson, Writer

What’s next

The writer plans to continue building up her emergency fund and being strategic about her spending, even though she has started a new job. She wants to stay prepared in case another financial setback occurs.

The takeaway

This story highlights the importance of having a financial plan in place to weather unexpected job losses. By budgeting, building an emergency fund, and finding ways to supplement their income, the writer was able to stay afloat during multiple layoffs, demonstrating the value of financial resilience in uncertain times.