Whether you’re let go from work or leave voluntarily, wandering into unemployment can be tough.
It’s a daunting scenario, made even more daunting by the lack of a stable income. But you shouldn’t let it get to you! We’re here to help. If you fall unemployed for whatever reason, refer to this post to help you get back on track
Create an ‘emergency budget’
Because – without sugar coating it – this is an emergency! You need an emergency budget to go with it.
Your first port of call will be to tot up all the money you have available right now. That gives you an idea of what you’re working with.
Next, eliminate all your luxury expenses from the equation. Now is not the time for bath bombs. Once you’ve done that, draft a bare-bones diet plan, and remove that cost from your total.
Now you’ve got food covered, the money you have left should be saved for emergencies. Don’t spend it at the cinema or at a bar. Keep hold of it. If you have a phone bill that needs paying, make sure that gets paid. Only stick with the costs you need to survive.
Unemployed due to disability or long-term illness
Perhaps you’re simply unable to do your job anymore. In that case, your hunt for a new position could be long-term, or even permanent. But don’t lose hope. There are always opportunities, no matter the situation.
Firstly, look for financial aid. Consider consulting a law firm like Chermol & Fishman, LLC, who can offer specialist disability living advice. Once you have a regular source of income, look to use that to improve your condition. Buy equipment and tools that can help you accomplish tasks easier. Make yourself more appealing to employers.
Savings and credit cards
If you do have a good amount of savings – and you really should – now’s the time to dip into them. Don’t be one of those people that’s afraid to spend their savings, no matter what. They’re there for a reason.
And until you find something more stable, don’t be afraid to use your credit card for small purchases of food. Be careful, though. Only do this if you know you have a regular payment incoming which will allow you to pay back what you spent.
Side-note: Keep the job hunt going
Don’t let your hunt for cash get in the way of your job hunt. You must keep it going 24/7, so you can stay motivated. If you have no money and no internet access, there are still plenty of ways to scout for positions:
- Internet cafes! Libraries! Both can offer you a PC, and internet.
- Read those free newspapers that cafes sometimes leave out. Or, go to a shop and read the job section in the paper – but don’t buy it.
- Enquire with family and friends – maybe they have an open position at their work
- Volunteer. Go round local charities and look for unpaid work. This can go on your CV.
In short, it’s not going to be an easy situation, but with the right attitude, you will win.