Washington, D.C. (October 20, 2025) – Dealing with job loss or job uncertainty can take a huge toll on mental and financial well-being. As a result of the recent government shutdown, some Americans are experiencing the effects or possibility of an unplanned employment gap. The American Institute of CPAs (AICPA) has tips for those who have been directly affected.
“Job loss and uncertainty can feel paralyzing, but it can also be a catalyst,” says Dan Snyder, CPA/PFS, Director of Financial Planning at the AICPA. “Setting immediate priorities and a workable a plan for current essentials can lessen some of the stress in times of furloughs or job uncertainty."
Financial planning experts at the AICPA recommend the following:
Job Loss or Furlough
If you are a federal employee, use the shutdown assistance map for resources.
Review your budget or cash flow and prioritize essentials. Categorize your expenses as "needs" versus "wants" to identify where you can adjust your spending. Pause discretionary spending and focus on housing, food and healthcare.
Evaluate your emergency fund to see how long it will cover essentials.
If eligible, apply for unemployment benefits.
Start by checking your eligibility requirements in the state where you worked. There is no federal benefit program and each state sets its own guidelines.
If you seek other or temporary employment, consult your employer's policies before taking on additional jobs.
This is especially common in government or public-sector employment, where specific ethical rules and regulations are in place to prevent potential conflicts of interest.
Evaluate sources for cash flow such as home equity or unsecured lines of credit. Another source of cash is a loan from your federal Thrift Savings Plan, much like a loan from a 401k plan. Some of these options have downsides including potential double taxation so evaluate your options carefully.
Communicate with your creditors if you are struggling with payments.
Some financial institutions offer assistance in the form of payment deferrals, loan modifications and other types of assistance. There may also be specific assistance available to federal workers.
Ahead of a Job Loss
Shore up resources – an emergency fund. Sudden unemployment is exactly what an emergency fund is made for. Take any extra income and use it to pad your emergency fund. A good goal is to have enough money to cover between three and six—or even nine—months’ worth of expenses. Start small with a manageable minimum weekly contribution, then add more whenever possible.
Manage spending with a month-to-month budget.
Establish a current view of your income and how much of it is absorbed by obligations like rent, mortgage and car payments.
Use credit cards cautiously.
Unpaid balances that grow with high interest charges, along with an income interruption can be a “perfect storm” of financial distress.Start networking
Stay ahead of the situation and start networking in your industry now so that if you do lose your job, you’ll have others who know you to help you find a new position.
About the American Institute of CPAs
The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with 397,000 members and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. A founding member of the Association of International Certified Professional Accountants, the AICPA sets ethical standards for the profession, attestation standards, and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state, and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, partners across the profession to build future talent, and drives continuing education to advance the vitality, relevance, and quality of the profession.
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Kathleen Zinszer
919-402-4978
Kathleen.Zinszer@aicpa-cima.com