I found out yesterday that the unemployment audit has been decided in my favor! Win!
I will receive 14 weeks of unemployment benefits. I will also be offered COBRA insurance and anything else that employees receive when they are let go. Details to come once I know them.
That being said, there are still some processes the Department of Labor must go through to finalize everything. I don’t have a timeline for when I will receive any money, but it will be a bulk payment since my 14 weeks have past.
My closest guess is that I will receive $330 per week x 14 weeks = $4,620.*
How do I allocate the money? Do I focus on debt? Do I focus on getting ahead on monthly obligations?
My thoughts have run the gamut. But here are what I’m leaning toward as my priorities:
- Get ahead one month on the monthly obligations.
- Budget $x toward business expenses, specifically to join the local Chamber of Commerce ($190,) print up some post card sized flyers to hand out as I network and place a couple of ads in the local newspaper ($66 per week.)
- Put $400 in a slush fund for the summer.
- Pay down debt?
To be fully informed, I have just under enough to cover the deficit left by my limited income for two more months. I would like to leave it intact. That is the reason why I have not designated any money towards savings in my plan.
So tell me, what are your thoughts? I am listening and wide open. Getting a plan in place before I have the money in hand will make all the difference.
*I have requested that taxes be taken out of the unemployment benefit payout. I’m not sure what rate that will be.
Just a sidenote…I have worked out a barter with Princess’ travel volleyball team for next season. I will be taking over their website and communications in exchange for all fees including tournament, training and uniform costs! Travel volleyball will only cost us travel costs next season! Woot, woot!
Never Miss a Single Post
Join our FREE newsletter and get awesome financial tips straight to your inbox.