583 – Job Loss: What to Do Financially in Your First 30 Days

583 – Job Loss: What to Do Financially in Your First 30 Days

Author: Doug Hoyes November 1, 2025 Duration: 30:52

Laid off or let go? Your first 30 days matter. This is a practical, Canada-specific guide to unemployment, covering everything from applying for EI to discussing when upskilling or a pivot makes sense, as well as the risks of jumping into self-employment and how to handle debt while unemployed. If you're currently employed, treat this episode as a readiness checklist to ensure you feel prepared and confident about whatever comes next.

(00:00) Why the first 30 days of unemployment matter
(02:00) Day-one checklist: severance, benefits, documents
(05:30) EI basics: ROE, timing with severance, applying early
(08:30) Money triage: cut variable costs, protect cash flow
(12:30) Job search that works: résumé/LinkedIn refresh + networking
(17:00) If your field is shrinking: upskill or pivot?
(21:00) Self-employment/freelance: risks, cash needs, taxes
(24:30) Debt decisions: the best time to file bankruptcy or a consumer proposal

How To Check If You Qualify For Employment Insurance (EI Benefits)

Payday Loans Aren't Worth It: How To Break The Cycle

Should I Get a Loan To Pay Off My Credit Cards?

DIY Free Credit Repair Course

Sign Up for the Monthly Debt Free Digest

Hoyes Michalos YouTube Channel

Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personal guidance from a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions, strategies, or digital tools/apps discussed.


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 50

Debt Free in 30
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