Saving Money During Unemployment


Unemployment is not fun, and neither is trying to figure out what to do when the money stops coming in and you need to make it last while you look for work. Here are some suggestions to help you keep your head above water when the money temporarily stops flowing.


1.  First, remember that the situation is indeed temporary, and don’t panic. You will most likely find another job soon, so take a deep breath and remain calm. Don’t sabotage yourself with negative self-talk. That will not help your mindset, which must be positive if you are to move forward successfully in the search for your next job. Start each day with positive thoughts, and expect success. It may take time, but with persistence and consistent action you will get there.


2.  Apply for unemployment compensation. This process takes a bit of time, as you will likely have at least a one week waiting period once you are approved for unemployment benefits, but it is well worth the effort. There are unemployment counselors who can assist you with finding local government and private sector job openings that fit your skill set, and walk you through the application process. There is usually a computer lab available with free internet access to help you in your job search, and printers where you can print out copies of your resume. There may even be someone who can assist you with composing or revamping your resume, if you need help.


3.  Sign up with temporary employment agencies in your area. Take a day to sign up with as many temporary agencies as possible. Make the rounds with your resume, or fill out their online applications and search through their jobs database. You may find several positions you qualify for and are interested in, and there is no limit to how many jobs you can apply for, or how many agencies you can sign up with. Being registered with several agencies is like having a powerful team on your side to aid you in your search for employment. These agencies have access to resources you may not, and they have employers who need help coming to them every day looking for workers. Many temporary positions are “temp to hire”, so there is a real possibility you may find your next permanent position through working a temporary assignment. Since employment agencies usually pay their employees weekly, a temporary assignment is also a great way to get some cash coming in fairly quickly.


4.  Buy generic. If you have a name brand habit, now is a good time to do an experiment, and try the generic versions of your favorite foods, health care, and beauty products. Many times, the generic version of a food, medicine, or health and beauty product consists of the same ingredients in the same concentrations as the name brand product, just with a different label. Most grocery store chains require manufacturers of name brand products to provide a percentage of their goods for generic or store brand labeling. The difference in price between name brands and store brands can help stretch your budget a little further when income is low.


5.  Have a yard sale. If you have been holding on to clothing, household items, furniture, musical instruments, tools, or other unused or seldom used items, now is the time to put them up for sale to generate a little cash. If a yard sale is not possible, try listing your merchandise on an online auction site such as eBay, or the local section of a classified advertisement website such as Craigslist. Tip: You might also want to check out the jobs section.

Unemployment may not be pleasant, but it is rarely a permanent condition. Remember to stay positive and take action daily toward your goal of finding your next position. With concentrated, consistent daily action, you will soon be employed once again.