Times are tough for a lot of businesses these days, but not nearly as tough as they've been for the folks who have lost their jobs in the name of corporate cost-cutting.

As bad as things may seem, there are some things the newly jobless can do to tread water until the next opportunity arises.

This Money Management column, courtesy of the MACPA and the American Institute of CPAs, offers this advice:

• Plan ahead: “If you think your job is in jeopardy,” the column reads, “now’s the time to set up an emergency saving fund.”
• Ask for severance: Companies aren't required to offer severance packages, but many will do so, especially for longer-tenured employees who have gone the extra mile.
• File for unemployment insurance: The sooner you file, the sooner you'll start receiving benefits.
• Don't panic: Talented, loyal employees won't be out of work for long. While you're looking for a new job, though, don't be tempted to dip into your retirement accounts or run up a big credit card bill. Doing so is a recipe for financial disaster.

Read the advice in its entirety, then give us your best advice for how to prepare for — and survive — being laid off.