Thanks to the recession and
the changing dynamics of the economy, unemployment is a
prevailing issue. They tell you that unemployment is improving or it already
has improved, but there are still plenty
out there who are still caught in the massive
unemployment nest. Whether you were laid off, resigned yourself or just can’t find the next best job, you’re probably not
having the time of your life with your current financial situation. And if you
are still (irresponsibly) having the time of your life, then you’ll eventually
fall into that situation when you’re not.
So there are two ways you can
handle your current situation:
1)
Sulk and complain about how the government fails to help the general
public
2)
Take matters into your
own hands by staying focused and proactive
If you chose the first, be my guest. The
article ends here for you.
If you chose the second, here are tips to help you
take “matters into your own hands”:
1)
Know Your Sources: The first step is to make a
list of all of your income sources. How long will they last? Some
companies offer a severance package to those employees who recently left their
organization. Find out if this is a possible
source.
Sign up for
government-funded unemployment resources online. You are eligible if you have been laid off through no fault of your
own and if you meet certain criteria. The
Supplemental Nutrition
Assistance Program (SNAP) is well known for providing the unemployed with food
stamps. For more information on unemployment benefits provided by the government, visit the Depart of Labor website.
2) Find
Gigs: Remember
every little dollar adds up. So don’t be ashamed to work here and there for an
extra dollar. Find a part-time job as a
tutor, lawn mower, babysitter, seller, or
a freelancer. However, keep in mind that freelancers are subject to taxes
(under certain conditions) and are not eligible for unemployment benefits.
3) Keep
a budget diary: Just like you did when you were in college, you’ll have to maintain a diary
of your financial transactions. Note down all of your necessary bills (i.e.
food, transportation, clothes, utilities,,,
etc.). Next, set those aside and jot down
your total income. This will give you an idea of your income availability and
how much you should be spending or saving. To be very accurate, it would be
better to jot down your daily/weekly financial transactions.
Ensure that your budget plan makes sense. Cut down as much as you can from your expenses. This means you
should…
4) Reduce
a few expenses: It won’t be like before when you didn’t have to worry spending a
little extra on something or the other when you were employed. Keep track of your spending just like you did when you
were at school and had only a fistful of pocket money to spend. Get rid
of the phone, cable television, or any other non-essential bill you may be
paying. Look for ways to reduce the gas and electricity bill since every little
dollar adds up. Cook food at home or buy generic brands.
And finally…
5)
Keep looking for your next job: You can’t be in this situation for too long. The longer you take, the harder it will get. So, don’t take too long to put your suit back
on and go seeking for your next new job. Networking
is a great way to speed up the process. Let your friends and family know
that you are searching for a new job and are up
and ready to join the workforce again. Keep sending as many applications
as you can on job boards. Keep track of openings in the newspaper and online.
Print and hand in an updated version of your resume to whoever accepts/ prefers
resumes in tangible form.
Now,
suit up for the next interview!
About Author:
Alice Scarlet works
as a part-time employee for a UK based education consultancy that assist
students who come to them asking, “can you help me Do my assignment.”
Besides her part-time job, she also runs her own
small business where she enjoys being her own boss.
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