My employer closed their doors, what do I do now?

If your employer has limited or reduced your hours of employment, we suggest taking the following steps to economize and get through the financial hardship to the best of your ability:

• Assess your finances – Create a budget for the foreseeable future to determine how long you can stretch your money, is it 2 weeks, 1 month, 2 months? Start by calculating your estimated income and check your liquid savings to get a clearer picture on how long your reserves will last.
  
  
• Prioritize expenses – Allocate your cash flow to cover your most basic necessities. These are typically housing, utilities, food, and transportation. It is good to consider suspending expenses related to entertainment for the time being.
  
  
• File for unemployment or disability – States all over the nation are expanding their unemployment coverage to those affected by the health pandemic. If you are exposed to the virus and you miss work, you may be eligible to file for disability. Look into the unemployment insurance benefits offered in your state of residence to see if you qualify and begin the application process. Start with this unemployment benefits finder. 
  • If you live in California, vist the EDD website for a useful breakdown of available Benefits for Workers Impacted by COVID-19.
    
    
• Review your benefits eligibility – Determine whether you or any members of your family qualifies for financial assistance by going to https://www.benefitscheckup.org/. 
  
  
• Reach out to your financial institutions – Contact the institutions you have accounts with, this includes banks, creditors, loan services and utility companies, and ask them whether they are offering any financial assistance to those affected by COVID-19. You may have different assistance options available to you depending on the type of financial obligation owed.
  
  
• Crowdsourcing – Consider creating a platform to reach out to your network of contacts and request financial assistance. Websites such as gofundme.com are commonly used but perhaps not as effective during this worldwide event. Consider leaning on your neighbors through apps such as NextDoor to pool locally available resources (view our guide at the end of this article).
  
  
• Employment Opportunities - Below are a few companies currently hiring.
  • Bay Area
    • Imperfect Produce in San Francisco is hiring drivers and warehouse employees.
    • Lowe’s in San Francisco is hiring for full and part-time positions.
    • San Francisco IHSS Public Authority (In-Home Supportive Services) is seeking to fill homecare work opportunities, learn more and apply
    • Work2Future operates a job board.
  • National
    • Allied Universal is hiring security guards.
    • Safeway, Andronico’s, Vons, and Pak ’N Save are Hiring, apply here.
    • Motivate is hiring bike mechanics & drivers.
    • The United States Postal Service is hiring for all positions.
    • UPS is hiring package handlers and delivery drivers.

More information on protecting yourself financially during the pandemic from the CFPB is available.