You are very smart to have maintained three months of emergency funds available for your family, and with no outstanding debt other than your home and one car, it is apparent that you have managed your debt very well. Your obvious initial strategies include reducing/eliminating any unnecessary expenses and seeking ways to save as much as possible. From a job search perspective, we are very fortunate in Frederick County to have numerous excellent resources available for job seekers. The Business and Employment Center, located on Spectrum Drive, should be one of your first stops in seeking employment. Their advisers can assist you with building your resume, career coaching, placing you in job training programs and providing you with information on employers in the area. They host job fairs throughout the year providing you the opportunity to meet with many different employers. The next job fair is scheduled for April 29. These programs and services are generally at no charge to you. You can visit their website at www.frederickworks.com or call them at 301-600-2255 for information. It would also make sense to contact employment staffing agencies and submit your resume to them. Many employers will often hire someone on a temporary basis to see if they work well within their company atmosphere, and then offer a permanent position if there is a good fit. Based on statistics that the BEC has compiled, the job market in Frederick is relatively strong and will continue to grow. Good luck.

I’m glad to hear that you have a three-month emergency fund because most people do not. The first thing that I would do is really scrutinize your monthly budget. Look for ways to cut expenses in the short term that you can re-look at after you have employment. Examples would be cutting back on cable channels, gym memberships, cell phone plans and other expenses that you can forgo in the short-term. You may also look to reduce tax being withheld from your paycheck if you have gotten refunds in previous years. That will give you more money now instead of next spring. The worst thing that people do in these situations is look to their 401(k) and IRA’s to withdraw money to pay bills. Only use that as a last-case scenario, as you pay taxes and penalties to use those funds. If you have a home equity line, you may also use that in the short term to fund your expenses until you get your new job. Good luck on finding that new job!

Sorry to hear about your current situation. First, congratulations on not having any bad debt. Your mortgage and car are both good debt. One provides shelter and, hopefully, will appreciate and create equity for you over time. The other allows you to get to your job or to interviews to find a new job. One thought that comes to mind is “sharpen the pencil;” it’s time to review your household budget (or create one), and make sure that you are being as efficient as possible during these uncertain times. Make sure your three months of emergency savings are stretched as far as possible if you have to use them. Finally, I would suggest you pray. If you are a person of faith you probably already have been praying for your situation to improve ... and it will.