Getting let go from your job can be a life-changing event. 

For many, the emotional stress of losing your job can be overwhelming. Unfortunately, sometimes your emotions can run high, affecting your ability to make sound financial decisions. 

Below are nine steps you can take to manage your situation immediately.

1. File for Unemployment - Check eligibility and file in your employed state. Here is the link for New Jersey.

2. Cash Flow & Budget Analysis - Figure out how much you need monthly to pay bills and live. Consider cutting unnecessary expenses.

3. Review Debt - Look at options from your lenders. Debt consolidation, 0% balance transfers on credit cards, and student loan deferment may be possible.

4. Health Insurance - You may be able to keep your current health insurance through Cobra or find a more affordable plan through Obamacare.

5. Asset Sale - Raise money by selling unwanted assets such as tools, motorcycles, and other items. Have a garage sale.

6. Goals & Objectives - Review your current goals, priorities, values, and objectives.

7. Update Online Profiles - Get your resume on paper, update your LinkedIn profile, and clean up all social profiles.

8. Network - Reach out to your network and let them know you are looking for new employment.

9. 401(K) - Consider the pros and cons of rolling your 401(K) to an IRA at a brokerage firm or leave at your 401(K) at your former employer.

In my experience, transitioning from one job to the next can and often does take much longer than one would expect or hope. 

Finding the right fit with adequate income and a workable location may take time. 

There may have to be concessions on both sides to make it work.

Having your financial life in order should help you tremendously as you consider your options. 

Most importantly, remember, it is an opportunity.

Make this time in your life the best thing that has ever happened to you.