How To Rebound Financially When You’ve Literally Lost Everything
For many women, the chain reaction of mass layoffs, high healthcare costs, and political conflict has become an all-too-common experience rather than a rare crisis. If you’ve found yourself in a situation where you’ve literally lost it all, you’re not alone.
Recent research shows that job loss among women has accelerated in ways that directly affect quality of life. Within the past year, layoffs across media, tech, retail, and healthcare, to name a few, eliminated many roles dominated by women. According to CBS News, more than 400,000 women left the U.S. workforce in the first half of 2025 alone, citing layoffs, caregiving burdens, and lack of flexible work as major reasons.
“We don’t have enough support and structure around policies that actually help caregivers,” economist Misty Heggeness told the outlet. “When they’re faced with this choice, they’re not gonna leave their children, so they’re left with leaving their jobs.”
Black women have faced particularly severe impacts. Forbes reports that Black women experienced some of the steepest employment losses in 2025, with hundreds of thousands fewer employed compared with previous periods. This is especially destabilizing because Black women are more likely than any other demographic group to be primary breadwinners or heads of household. When income disappears, entire families can be affected, amplifying the consequences of layoffs far beyond the individual worker.
“My recent layoff has affected every facet of my life,” Danah Montgomery, a nonprofit leader, shared with Essence last year. “My health concerns have worsened, likely due to stress, but I am unable to address them without health insurance.”
Housing loss has also become more common among millennials and Gen Zers facing unemployment. A recent Bank of America survey found that nearly half of Gen Z adults receive financial help from parents, often for necessities like housing or food. Also, many millennials and Gen Zers have moved back in with parents or grandparents after job loss, citing high rent, stagnant wages, and limited savings. Multigenerational living, once viewed as a setback, has increasingly become a survival strategy during economic disruption.
Deloitte’s 2025 Gen Z and Millennial Survey reinforces this vulnerability, showing that nearly half of millennials feel financially insecure and that many live paycheck to paycheck. When employment ends, there is often little cushion to absorb the shock.
Bouncing back after losing a job, income, and a stable home requires both emotional resilience and practical rebuilding, especially in an economic climate that has hit women and younger generations unevenly. As someone who has had to financially rebuild several times in my life, here are a few tips that helped me manage and overcome:
1. Take Some Time To Get Past The Shame And Evaluate Your Finances Honestly.
This means listing every source of available cash, including unemployment benefits, severance, tax refunds, or temporary gig income, alongside all required expenses. Knowing exact numbers creates clarity and allows for informed decisions about housing, debt, and assistance programs. If you feel too overwhelmed, watch YouTube videos on budgeting and getting out of debt, and seek the help of a savvy family member, a professional at your bank, or a nonprofit organization.
2. Build A Survival-Level Budget Focused Only On Essentials.
Housing, food, transportation, healthcare, and minimum debt payments should come first. Discretionary spending should be paused until income stabilizes. This type of budget is not a reflection of long-term lifestyle, but a short-term tool to stop further financial damage. Figure out ways to stretch your savings by couponing, only shopping for in-season groceries, cutting back on use, or even blocking shopping websites and locking credit cards.
3. Research Financial Support Resources Aggressively And Early.
Don’t give in to those hopeless doom-based feelings, and think outside the box. While there have been reports of challenges and cuts related to government assistance, find out what’s available and apply anyway, whether it’s unemployment insurance, rental assistance, utility relief, or food support (such as local pantries or food banks).
Have open conversations with your creditors, bill collectors, and your landlord to see what your options are, and don’t be afraid or ashamed to advocate for yourself. Some processes might take some digging, several visits or phone calls, and a bit of paperwork, but don’t let that deter you from getting access to life-saving resources that can take a bit of the pressure off.
4. Reclaim Small, Low-Cost Sources of Joy.
Romanticize those pantry meals and find inexpensive or free ways to have fun via community events, museum visits, or volunteering. You can still treat yourself within reason during a time of hardship. I actually asked ChatGPT for ideas on $15 spa shopping lists for at-home self-care and ways to save on once-a-month restaurant visits. I’d also take advantage of promotional weeks or months to try out new fitness classes and gyms for free. Whatever your thing is, tap into ways you can still enjoy on a tight budget.
5. Create Space For Reflection And Identity Rebuilding.
Layoffs frequently trigger identity loss and mental health challenges, especially for millennial women who link stability with career progression. Reflection practices such as low-cost or free therapy, support or Meet-up groups, or guided self-assessments can help separate self-worth from employment or financial status. This period can become a reset point to reassess values, boundaries, and long-term goals, rather than a pause defined only by loss.
Bonus: Lean Into Asking For Help From Family, Friends Or Other Networks.
I’d been pretty much independent since the age of 17, so losing a source of income for a period of time and having to cut expenses by moving in with family was something I’d always dreaded and avoided. During one period of loss, I found major relief by finally surrendering and embracing the help of family and friends to get through tough times. Check in with sorority sisters, former colleagues, or fellow church members.
While this can be super-humbling and challenging, it’s a stepping stone that you shouldn’t be ashamed of. That release can be a life-saver in the long run as long as you set healthy boundaries and a timeline for independence.
Rebuilding financially after losing it all takes time, but with deliberate money management, intentional emotional care, and patience, stability and confidence can return. A setback marks a chapter, not a conclusion, and recovery is as much about restoring dignity and hope as it is about restoring income.
