Cannot find a job? Knowing how to survive financially is a challenge. But you have options. Here are 4 tips for achieving financial health while job hunting.
The U.S. unemployment rate has been hovering around 4% for close to a year.
This unemployment rate is a 49-year low and means that there are 6.08 million people without jobs in the United States.
Though it is not uncommon, life is difficult when you have no job. Read on about what you can do when you cannot find a job and need money.
Apply for Government Assistance
One of the hardest times in life is when have to say to yourself “I can’t find a job and I need money.”
It’s not easy to be in that situation but you are not alone. One of the first things you can do when you have no job and no money is to apply for help from the government.
There are many programs out there available to you to help pay for your rent or groceries while you are unemployed.
Take some time to research what is available to you in your city and state. Use the U.S. government’s benefits finder to help you find out what help is available to you.
For example, the Supplemental Nutrition Assistance Program (SNAP) is available to low-income individuals who need help paying for groceries.
You may also qualify for unemployment benefits which will give you some income until you start working again. When you were working, you paid into this unemployment benefit. So don’t be ashamed of taking advantage of it when you need it.
Contact Credit Card Companies When You Cannot Find a Job
If you have any outstanding balance on a credit card or other loan, contact your provider right away.
Let them know that you cannot find a job and that you are struggling financially. Most credit card companies have options for people are unable to pay their full, monthly bill.
Contact these lenders right away to avoid paying late fees or defaulting on a loan. Call and ask about your options. Explain that you don’t want to default but can’t pay the balance at this time.
Sometimes companies will waive or lower the minimum payments or freeze the interest.
Cut Your Expenses
When you have no income or have to live on a smaller income, the most important thing to do is to cut your expenses as much as possible.
Look at your recent expenses and sort them into essential and non-essential items. Food and rent are essential. Gym memberships, eating out, and subscriptions to magazines or TV providers are all non-essential.
Remember that you are just cutting out things that you can go without for now. When your financial situation improves, you might be able to afford non-essential expenses.
Consider canceling your internet. Many places like public libraries and internet cafes have public computers you can use for free.
Your cell phone may or may not be essential. You may be able to switch to another provider that is less expensive. Especially if you opt for a plan with no data.
Make sure you read all the fine print before you switch providers. Sometimes the low rate is just an introductory price and will go up after a couple of months. Or the service may not be great with certain providers.
Shop around for the best option before you make a switch. In most cases, you can keep the same phone number.
Sell Items You Don’t Need
It may seem harsh but selling items you don’t need could help keep you in the black.
One surefire way to get the cash you need is to sell a car. Especially if you live in a suburban area where you can take public transit or bike to get to places.
Plus, you won’t have to pay insurance on the car. And you will save on fuel and maintenance costs.
Consider holding a garage sale to get rid of items you don’t need. Or look around your home for antiques or collectables that might be worth money at pawn shops.
If you have a particular hobby that you are skilled at, consider selling your handiwork or teaching workshops.
You might not get rich doing it, but then again, you might find that you are successful and start your own business.
If you are really strapped for cash consider looking for payday loans online, no credit check, instant approval sites. It may be enough to get you through.
Consider a Survival Job
While you are looking for a career job, it may be worth taking a survival job in the meantime.
Yes, you will likely make minimum wage but it will give you some income to support yourself.
Perhaps a job that has flexible hours or shifts over the weekend is what you need. It can give you money while still giving you time during the week to look for a better job.
Don’t be discouraged about being in a dead-end job.
Even fast-food jobs can provide you with soft skills that are valuable in any industry. You will hone your teamwork, efficiency and customer service skills.
Final Thoughts
We hope this guide on what to do when you cannot find a job has given you hope and practical advice.
Unemployment can be a temporary state. Take this time to update your skill set and update your resume. You could consider volunteering to add valuable work experience to your resume.
Visit my website to get my free resume secret report that will show you how to land interviews.
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