4. Build a budget
If you have never created or implemented a budget, now is the time for one!
Look at all of your expenses, including those that may change such as health insurance premiums and contributions to 401(k) plans, as well as those irregular expenses such as annual auto or home owner's policy premiums.What are your sources of income: salary (is one spouse or partner still working?), rental income, unemployment, and severance income. If you are near retirement age, can you start to receive Social Security or a pension? Also, track job search related expenses, as they may be tax deductible.