It can be easy to get discouraged when you find yourself unemployed. From firings to layoffs, we’ve all experienced the depression that comes from being jobless. Taking positive steps in your life and budget will help you focus your time and energy on finding new work, rather than worrying about finances. Here are some money tricks to keep in mind while in-between jobs.
List of Needs
First, you will need to make a list of all the bills you have to pay monthly, including housing, utilities, transportation, and food. If you have student loans, you may be able to defer them, but you will need to fill out the Unemployment Deferment Request Form at studentaid.ed.gov. While it is tempting to rely on credit cards, the more debt you incur, the longer you will have to pay it off and the less money you’ll have to live on.
Eliminating the Extras
Cut out as many things as you can to stretch the money you do have. Cancel any subscriptions including magazines, cable, and recurring Amazon orders. Find a prepaid cellphone to cut down on your data plan. Cook at home rather than eating out. Check out books and videos from the library for entertainment instead of going out.
File for Unemployment
If you are eligible for unemployment benefits, you should receive some sort of living, though it may not cover your old wage. You will need to visit your state government’s office or website for specific instructions. It can take several weeks to start receiving payments, so file as soon as possible.
Look for Work
One of the requirements for receiving unemployment benefits is to prove that you are looking for work. Keep track of the time that is spent searching for a new job. Make sure to update your resume and complete any required employment background checks. Use a local job resource center to find help with creating a resume and use computers with internet access for searching and applying for jobs. Be sure to respond to all emails and phone calls in a professional manner.
Living on Less
There is an old saying that bears repeating – use it up, wear it out, make it do, or do without. Do you have any unused gift cards? Do you have items that can be sold online? Make sure to use up the food in your kitchen and the extra bottles of shampoo in the bathroom before buying more. You can use simple financial apps and tricks to keep your spending under the limit and your whole family on board with the plan.
It is important to still get up and dressed every day and to get some exercise. Find free local events to get out of the house and still have some fun. This will keep you motivated to keep taking the necessary steps toward finding a new job. In no time, you’ll be employed once again.
