Tips for retrenched employees

Do not use up any money you may have received at the time of lay-off to repay a low-cost loan like a home loan
A high-cost loan like credit card debt should be repaid at the earliest
If you make several enquiries for loans from many lenders, that will have an adverse impact on your credit score
A collateralised loan like gold loan will be cheaper than a personal loan
Use a top-up on your home loan to pay off other high-cost debt
Stocks may be available in the markets at mouth-watering valuations, but you should not bet on them in your situation
Knock off frivolous expenditures that you can do without