I wrote this as a comment in Droogie's diary. Someone asked me to post it as a diary for more people to see, so here it is. I hope it helps anyone facing job loss to prepare. It's a scary time, and sometimes having a road map for the basics can help.
I say this as a person unemployed long enough to no longer be included in the stats:
Pretend you've already lost your job.
You want to do this when you are not in panic mode. You will need time to deal with the fear and stress (which will jump quite a bit) when it really happens. Starting before hand will give you room to breathe.
Spend your at-home time over the next two weeks planning the things you would need to do in order to survive without the job.
What are your expenses?
What is necessary, what is not?
[more after the fold]
What would you cut? Cut nearly everything that makes the list, asap - tomorrow if possible. Things that might be very hard to replace (i.e., child care) should wait until you absolutely have to.
Will you have to move?
If so, plan what you will need to do to make your house salable. Figure out how much of that work you can do yourselves (you might be surprised). Figure out where to get the materials you'll need to do so. Call nearby friends and get them prepped for a "habitat for community" party, as we've come to call them. Start getting realtor comps now, but do not under any circumstances sign a contract with one. Any items in your house that are not needed on a regular basis should be sold, freecycled, or put into plastic bins now. If you have a lot of books, put a note out on freecycle that you're looking for book boxes. Plan on extra expense for fresh flowers and baking supplies so you can make your house look and smell nice every time people are coming through to look. If you know a web developer, prepare to them put together a site advertising your house - you may be able to barter for the service. Here's a format that works well for a friend's rental.
Will you need to let go of a child care provider?
If so, let them know it's a possibility, but not guaranteed - they need time to prepare to find a new customer.
Will you need to sell a car?
If you have more than one, and may not be able to make car payments for both, you'll need to get rid of one quickly. Do the blue book search, determine the worth of the one you're getting rid of, subtract 20%, and that's your baseline sale price. Write up the ad, and prepare to list on Craigslist and in local classified papers. If you do have to list it, list near the top of blue book value, then lower the price a small amount every few days until you find a buyer. this will prevent you from selling at a much larger loss out of desperation. Figure out a schedule that will get to the 20% off price on day 14 or 21.
Where you will go, if you have to move?
Plan on both short-term (parents?) and long-term (rental or smaller house?). The easiest short-term spot is often a parent's house. Prepare to move those items you put into storage bins to wherever you're going for short-term, so the clutter is out of the house before you list it. Talk to mortgage lenders, shop owners, friends, and neighbors to let them know you're thinking of selling, and ask them to send leads your way.
Start looking for jobs requiring the same skills in other industries.
Create resumes specific to each industry. For example, if you're a writer, you can probably do ad copy, user manuals, etc. Is there something you always wished you could do for work? If so, this might be the best chance to try to make that leap.
Talk to social service agencies in your area.
Determine what options will be available to you and to get any paperwork you'll need. Fill it out ahead of time, leaving just the dates empty. Do this for medicare, unemployment, food stamps, etc.
Food:
Buy a good basic cookbook or two, and stock up on all the dry and canned-good ingredients you'll need for several weeks of meals prepared from the most appealing recipes.
Babies who are old enough to talk can eat the same food you do, either cut smaller, or smooshed/ground up. Start weaning off baby food now.
Credit:
If you have credit card debt, get the phone number(s) of each card's customer service department and be ready to call and politely ask for reduced payments for a few months. If you explain before you miss any payments, they're more likely to work with you.
Before you lose your job, you may want to consider a debt-consolidation loan. Getting the cards and cars into a single long-term fixed-rate loan might help. Alternatively, if your credit is good, and your payments are already small, switching to a card with zero percent interest for 6 - 12 months will give you extra breathing room by further reducing payments. BankRate.com is a good source of info on low-cost cards.
Utilities:
Find out what limits exist for shut-off. In most of the northeast, you can't have your utilities shut off for non-payment in the winter. Does OK have the same for summer?
Also, see if there are any programs to help with your utility payments. Most of the time they renew in September and all funds are accounted for by October. Sign-ups are on a first-come first-served basis.
Other
Don't be afraid to both ask for and accept help. People who care about you WANT to help you. It's not an imposition, it's a means of allowing them to feel less helpless about what has happened to someone they care about.
Good luck!