Five Steps after a layoff

The February 25 issue of the Wall Street Journal (Family Money column) lists five things to do if you're laid off:

1. Stay covered-maintain insurance coverage through COBRA, a spouse, or other insurance provider
2. Calculate your minimum expenses-
3. Count your cash-
4. Look for other income-don't forget to apply for unemployment compensation as soon as you can
5. Manage your 401(k)-don't tap it unless you have no other choice.