Unemployed? How to Take Care of Your Personal Finances

Tuesday, October 3, 2017, 6:00 PM | Leave Comment

Unemployment can be a frightening time for anyone. The scariest aspect of it is that you don’t know when you’ll be able to earn a proper income again.

The following are just a few ideas that you can use to stay during the employment drought.

Unemployed? How to Take Care of Your Personal Finances

  • Preserve Your Finances by Bill Slicing

    The first thing you can do to preserve the finances that you do have is start cutting the bills where it counts.

    For example, you can try to half-slice your cell phone bills, insurance premiums, cable and Internet packages and the like.

    Many of those companies understand the crunch and are willing to help people to get through a tough time rather than lose them completely as customers.

  • Learn the Art of Doing Odd jobs

    Odd jobs can save your life at a time when nothing else seems to work. Many one-time gigs and odd tasks are available during a period of unemployment.

    Some ideas that may help you to bring in some of the income that you need are:

    • Pet sitting or babysitting

    • Grass cutting

    • Snow shoveling

    • Helping someone move a home or office

    • Tutoring

    • Apartment cleaning

    • House sitting

    • Sign Holding

  • Mend Broken Relationships

    Unemployment is a crucial time when you will need the support of friends, family members or other individuals who can contribute to your well-being as you are going through this struggle.

    If you are at odds with such people, now would be a great time to work it out. Be careful about the way that you do this, though. You never want to seem as if you are not genuine.

  • Become a Sales Rockstar

    When you’re unemployed, you have to have a creative spirit. you have to think of a variety of methods to keep yourself above the water.

    Going through your home and finding items that you no longer need is one way you can do it. You can round up those items and sell them using a variety of methods.

    An online auction could be good for you if you’re familiar with them. yard sales and flea markets are additional options for you.

    You may have to pay to rent a table at a flea market, however, so you would be better off just having a yard sale on the weekend. You’d be surprised what people in the neighborhood may be looking for and how much they may be willing to pay to receive such items.

  • Apply for a Cushion

    Short-term loans could work for you if you know how to work them. First, they are only meant for a short period.

    Secondly, they will not keep you from sinking forever, but they can give you a little bit financial confidence as you look for work every day.

    The two most common types of such advances are payday loans and title loans.

    Payday loans are unsecured advances, while your car title secures the title loan.

    Title lenders may be willing to offer you more money if your car is on the new side.

    Payday lenders don’t ask for titles or liens, but they may ask you to provide a number of personal references.

  • Apply for Benefits

    You may qualify for unemployment benefits, so don’t automatically count that out. Even if you are self-employed, you could be entitled to some assistance if the reason that you are not working is not misconduct or voluntary resignation.

    Visit your state or county’s site and just read some information about UI and see if you fit the description.

As you can see, there is a way for you and your family to make it through this difficult time. Keep the faith and try some of the previously mentioned methods.

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