How To Survive Being Unemployed
Update: Notice the new forum (Let’s get the chat started!)
Welcome! We created this website to offer a positive spin on the possibility of being terminated from your current employer. We both have first hand experience in being downsized unexpectedly and realize how stressful life can be. Before we get started with applying for unemployment benefits, let us offer our sincere apologizes for your loss. I’m sure you were a dedicated employee for many years and probably are in shock right now. Try not to take it personally because its just the by product of the ever changing business world and consumer spending habits. If you are not prepared, a large reduction of your household income can be devastating both financially and personally. The first 30-60 days are crucial to keep ahead of creditors and keep from losing assets. This website will provide details on how to survive being unemployed by generating a passive internet income and securing employment. We will also provide guidance on how to file for unemployment and teach you tricks to get your monthly bills in order. Some of these steps are common sense, while others may be new to you. Let’s get started!
Reduce monthly bills before you start on unemployment
Trying to keep your car, furniture, trips and home is hard enough during a strong economy, but even harder during a recession and downsizing. Now is the time to look at your personal monthly budget and reduce accordingly. The one thing in life that we have complete control of is our monthly spending. In today’s society your debt can get out of hand real quick and the amount of money coming in can equal your bills. Most people don’t realize how much they are really spending on everyday items that may or not be needed. Here are some ideas and about how much money you can save monthly.
Cellular phones: Take a close look at your phone calls and see if you can reduce their usage or change plans altogether. Switching to a pay as you go phone can save you $50 month.
Cable: Keep track of your TV viewing habits and see if you can reduce possibly eliminate. Nowadays there are opportunities to view shows and movies on the internet. Changing plans and researching Netflix options can save you up to $50 month depending on current cable options.
Automobiles: We are led to believe that multiple cars are necessary to survive. In reality with a little imagination and planning car expenses can be reduced. Research the possibility of relocating to a pedestrian friendly community or close to your employer. Check with your insurance company and increase deductible based on your expected income. If you eliminate one car payment that savings plus other deductions could allow you to save up to buy a car with cash. Remember your insurance rates will be reduced slightly too. Changing your automobile situation can save you up to $300 month.
Coupons: Spend some time with someone knowledgeable coupon experts and learn their secrets. There are individuals that get savings on top of savings on a regular basis. There are programs on the internet that help guide you. Also if you have to purchase anything be sure to research all options. I just recently saved $100 on a laptop battery through Amazon. Potential savings on consumable items $50 month or more.
Utilities: Make it a practice to not leave lights on after you leave a room. Replace bulbs with special energy saving bulbs. Only heat or cool rooms that are used regularly. Cover some A/C vents and direct air where needed during prime usage times of day. Make use of ceiling fans including switching direction of blades. Definitely invest in a programmable thermostat. Adjust temperatures higher when not using particular areas. Turn off pilot lights to gas fireplaces during summer and even furnace. Potential savings here $20-$50 month.
Goodwill: There is really no way to recoup your money from old furniture when purchasing new. This creates a huge amount of fairly decent furniture being given to good will. New sofas and loveseats can cost you upwards of $300 a piece. New bicycles can set you back $100-$350 a piece. Electronics (careful technology is changing) if you know what you are doing Goodwill can save you plenty. Clothes there is a huge savings. It is not uncommon to spend $100-$300 a month on a kid’s clothing needs through normal retail channels. Potential savings here $100-$200 month.
Phone bill: Review your phone bill and eliminate any options that you really are not using. Call forwarding and others can really add up. Might be able to cancel long distance and use your current cell phone. Potential savings here $20-$40 month.
Laundry Soap: This is a fixed expense and some of us wash a lot of clothes! There is a way to make your own laundry soap and save some serious money. Potential Savings here $20-$50 month depending on family size.
These are just a few of the ways to set yourself up well financially in case of potential layoff. Total estimated savings: $740 month or $440 month (without reducing car expenses)