Making a plan

After becoming redundant, there are lots of things to consider about leaving your current job, looking for employment, and managing your money. On this page, RPS Assist will help you to make a plan. 


Financial Planning

  1. Create a short-term budget based on your current income and expenses. You could try the Money Advice Service's Budget Planner here.
  2. Think about how you can manage your current expenses. Is there anything you can remove or reduce from your budget for now?
  3. Forecast your finances to work out how much money you have coming in and going out.


Managing Short-Term Problems

  1. Click here to find out if you are eligible for Redundancy Payment Service, RPS, payments.
  2. If you are eligible for RPS payments, we explain here the Redundancy Claim Process.
  3. Sign up for job seekers allowance.
  4. Manage your existing debts. Read our avoiding long-term debt page for more information.


New Employment

  1. Start looking for new work. Read our New Employment page for more information.
  2. Find out if you are eligible for other help including benefits and support. Read our 'Where can I get support?' page for more information.



More Tips for Managing Expenses

After becoming redundant, it will be important for you to manage and prioritise your expenses. This can include debts (see above) and other day-to-day living expenses.

Some questions to ask yourself are:

  • Are there any expenses that I can cut out for now?
  • Are there any expenses that I can reduce?

Day-to-day expenses might include transport costs, groceries, household bills like your TV and phone package, and any recreational activities.

Make a list of what your expenses are and how much they cost each month.

Are there any that are non-essential and that you can put on hold? Maybe you could pause your savings plan for a holiday or a new car. Maybe you have a treat like a monthly subscription that you can do without for a while. Think about where you spend money that doesn’t need to be spent.

Are there any you can reduce? Perhaps you have a TV package with lots of channels you don’t watch very often, or a call plan that has lots more minutes than you normally use. Maybe you eat out once a week, and could reduce that to once a fortnight or go to a less expensive restaurant. There may be areas of your spending where you can cut back or decrease your regular payments until you can afford them again.


More Tips for Forecasting Your Finances

Forecasting your finances involves looking at how much money you have, how much money you expect to come in, and how much you expect to spend.

By reviewing your budget you will be able to prioritise your spending and work out where you can make savings.



If you have money saved that you can use to pay your expenses, start thinking about how long you will need it to last and how much you can afford to spend each month.


Redundancy Pay

If you have already received or expect to receive your statutory redundancy pay, make a note of how much this is worth, and how long you can make it last. If you have not yet received your redundancy payment, click here to obtain an estimate of what you may be entitled to.


RPS Other Income GraphicOther sources of income

  • Where else can you save or earn some money while you are out of work?
  • There may be some other ways that you can increase your income while you are out of work. For example:
  • Can you reduce outgoing payments, like your mortgage?
  • Are you eligible for Housing Benefit?
  • Are you eligible for any other benefits, tax credits, or tax rebates?
  • Do you have an insurance policy with short-term income protection?

If you can reduce outgoing payments, this can help you to make ends meet while you are out of work. You may also be able to arrange to receive any benefits that you are eligible for during this time.

You can use the GOV UK Benefits Calculator for information about income-related tax benefits.