What if I was unemployed?

As we all know, the economy is in tough shape. People are losing their jobs left and right. Sharon, over at Musings from a Midlife Mom, was talking about putting her emergency fund into overdrive. I get it. It's a scary time right now and I want to be prepared. I sat down this week and figured out how our budget would work if I lost my job. Since I'm the breadwinner I wanted to know what it would look like if we had to live off of the hubby's salary and my unemployment.

It was a bit eye-opening to see how little we'd actually need to get by. Which tells me we've been over spending for wayyyyyyy too long! It's good that we are on track now. Anyway, here is the breakdown:

Together we'd take home $3000/Month (based on 4 pay periods)

-$795 Rent
-$35 Electricity
-$125 Cell Phones
-$365 Car Payment
-$83 Car Insurance
-$200 Food ($50/week)
-$240 Gas ($60/week)
-$400 CC #1
-$400 CC #2

For a remaining balance of $357 per month. That would have to be for savings and misc. items that we haven't really accounted for, such as our annual car registration, oil changes, etc. Unfortunately I don't have health insurance figured in here. I believe Cobra would cost about $1K per month for both medical ($890) and dental ($100). Ouch! Luckily we are both in good health for the most part, so we could take a chance for a little while until I found a new job with benefits.

Hopefully this won't happen, but I can breathe a little sigh of relief knowing that in the worst case scenario, we'd be okay to get by for a little bit. Not to mention any income that I'd be able to generate from being at home working on crafts or something. In addition, with each pay period that goes by where we are both still employed, we're able to send hefty sized payments in to the credit cards. This is helping to lower the minimum payments due, so we may even have a little more extra wiggle room if/when that time comes.

Question: Have you taken a hard look at your bills and what your backup plan will be if the unfortunate happens and you or your partner are laid off?