The summer of 2025 has been filled with headlines of 300,000 Black women who have left or been laid off from the workforce in the U.S. A black woman who has managed to become successful in the U.S. marketplace is talented and resilient when one considers racial, gender and economic disparities that she has had to overcome. With every exit, America loses qualified talent and she may face financial instability, loss of health benefits, and diminished opportunities for generational wealth.
The Hidden Costs of Being Sidelined
Leaving your job can feel like losing your footing, financially and mentally.
When a paycheck stops, it’s often followed by the loss of essential employer-provided benefits—including health coverage, retirement contributions, and professional development opportunities.
That’s why financial planning isn’t just smart—it’s essential.
Financial Strategies to Safeguard Your Future
1. Build your Emergency Fund
Even if you’re not planning to leave, start preparing as if you might have to. Set aside 9–12 months of lifestyle expenses in a high-yield savings account. Give the account a powerful nickname like “My Security” or “Freedom Fund.” Small, automatic transfers can build that cushion faster than you think.
2. Maximize Benefits
If your company’s situation feels uncertain, make the most of any wellness, education or professional development stipends. Get a financial planner and review your 401(k)/403(b) vesting schedule. You may lose unvested funds if you leave too soon. Roll over any retirement accounts properly to avoid penalties. Also, spend down your Flexible Spending Account (FSA) funds strategically before your coverage ends.
3. Make Smart Credit Decisions
Keep your credit utilization to below 30% of all credit available to you. This not only helps your credit score, but it also keeps credit to a manageable amount if you face a sudden income loss. When facing income insecurity, call your lenders early to discuss hardship options so that you don’t fall behind with payments. Don’t close old accounts! You are re-aging your credit, and you will need accounts with a history to keep a good credit standing.
4. Diversify Your Income
Your paycheck shouldn’t be your only safety net. Consider having multiple income streams now by being a consultant or a freelancer in your field. Other options include teaching online or offering workshops in your area of expertise. Each small stream adds security, independence, and peace of mind.
5. Invest in You
If you’re laid off or forced into exiting, use that time strategically. Take the time away to learn a new skill or certification. Refresh your resume and update LinkedIn. Brush up on your networking and join communities that value your perspective. YOU are your best investment. The goal is to ensure your worth never depends on a workplace that was not a proper fit for you.
6. Get a Planner that Gets You
Seek out a financial planner who understands your lived experience. I can help you set goals that align with your reality—whether that be balancing caregiving, career pivots, or the need for security and growth.
Remember, exiting the workplace doesn’t reflect your talent or your potential. Making educated, intentional decisions gives you options. With an emergency fund, income streams, and a plan, no employer or system can silence your power. Financial preparation isn’t just protection—it’s how we rise, rebuild, and reclaim control of our future.
