What to do if you lose your job and have no savings
Government resources and quick financial actions
Losing your job is one of the most emotionally and financially stressful situations anyone can face—especially when you don’t have any savings to fall back on.
It can feel overwhelming. The bills don’t stop coming, rent is still due, and groceries need to be bought. In the middle of all this, it’s easy to feel panic set in. But even if it feels like you’re out of options, you’re not alone—and you’re certainly not without help.
If you’re living in Canada, there are real supports available to help you get through this tough time. From government assistance programs to emergency community resources, there are clear steps you can take—starting today—to protect your finances and begin the path toward recovery.
This guide is here to walk you through everything you need to know. You’ll learn what to do immediately after losing your job, how to apply for key government benefits, and how to take smart financial steps even if your bank account is close to zero. It’s all about helping you regain a sense of control, one small move at a time.
Take a deep breath: what to do in the first 48 hours
The first two days after job loss are crucial. You may feel overwhelmed, but taking small actions right away can make a huge difference.
- Apply for Employment Insurance (EI): Do this as soon as you’re let go. Don’t wait for your Record of Employment (ROE)—you can submit it later.
- Review your budget: Make a list of your current expenses and cut out anything non-essential.
- Contact your landlord, utility companies, or lenders: Many have hardship programs. Don’t be afraid to ask.
- Check for severance pay: You may be entitled to money from your employer depending on your employment history and contract.
Government programs you can access quickly
Canada offers several income support programs—some of them kick in fast. Here’s a breakdown:
| Program | Who it’s for | How much | How to apply |
|---|---|---|---|
| Employment Insurance (EI) | Workers who lost jobs through no fault of their own | Up to 55% of average weekly earnings (max $668/week in 2025) | Apply online at Service Canada |
| Canada Worker Lockdown Benefit (CWLB) | If your job loss is due to a government-imposed lockdown | $300/week (taxable) | Through CRA My Account |
| Provincial social assistance | Those with no income and little savings | Varies by province (e.g., $733/month in Ontario) | Check your province’s website |
Step-by-step: applying for EI and other benefits
The process is easier than it sounds. Here’s a breakdown of what to expect:
- Create a My Service Canada Account (MSCA): This is where you’ll apply and track your status.
- Gather documents: You’ll need your SIN, employment history, and banking info.
- Submit your application: The sooner, the better—even without your ROE.
- Wait for approval: Processing usually takes 1–4 weeks. Keep checking your MSCA.
- Keep reporting: Every two weeks, you’ll need to confirm your employment status.
Case example: Alex from Alberta
Alex was laid off from a warehouse job in Edmonton with zero savings. Within 24 hours, he applied for EI and called his landlord to request a rent deferral. He cut non-essential spending, paused his gym membership, and contacted Alberta Supports for emergency help. Within two weeks, he was receiving $540/week from EI and got an additional $100 grocery voucher through a local non-profit. “It was scary,” he says, “but those first few actions helped me survive.”
Quick financial actions you can take today
Besides applying for government help, you can take these practical steps to stretch every dollar:
- Switch to a bare-bones budget: Focus on essentials like rent, food, utilities, and transit.
- Pause subscriptions: Cancel or suspend services like Netflix, meal kits, and apps.
- Sell unused items: Use Facebook Marketplace or Kijiji to bring in quick cash.
- Access community help: Food banks, free meal programs, and community fridges are available in most cities.
Provincial emergency support programs
In addition to federal benefits, each province offers emergency or transitional support. Here’s a quick look:
| Province | Emergency program | Support amount |
|---|---|---|
| Ontario | Ontario Works | Up to $733/month (single adult) |
| British Columbia | Income Assistance | Up to $935/month (single adult) |
| Quebec | Social Assistance | Approx. $770/month (single person) |
| Alberta | Income Support | Varies based on need and household size |
Explore low-income supports and subsidies
If your income drops, you may qualify for additional help:
- Childcare subsidy: Available in most provinces based on income.
- Rental assistance: Some provinces offer housing supplements or rent-geared-to-income housing.
- Healthcare programs: Some services (e.g. dental, vision) are covered for low-income residents.
- Energy rebates: Programs like Ontario’s LEAP can help with heating or hydro bills.
Start planning your next move
Even if you’re not ready to think long-term, it’s a good idea to start planning your comeback:
- Update your resume: Use free resources like local employment centres or online tools.
- Consider short-term gigs: Delivery services, tutoring, or freelancing can bridge the gap.
- Upskill for free: Look for free courses from LinkedIn Learning, Coursera, or your local library.
It’s hard—but you’re not alone
Losing your job without savings is one of life’s toughest situations. But you are not alone, and help is out there. From government benefits to local support programs, there are real solutions available. The key is to act fast, stay informed, and reach out. With the right steps, you can get through this and come out stronger on the other side.