Being out of work is incredibly stressful, not only do you lose part of your identity when you don’t have a job but making ends meet can become incredibly difficult. Whether you were fired, made redundant, the company went bust or you had to leave for your own reasons it’s not the nicest of scenarios to find yourself in. Here’s how you can make things a little easier until you’re back at work.
Claim what you’re entitled to
First things first would be to see what help and money you’re entitled to that you can live off until you find another job. This could be some form of benefits or welfare if you don’t have significant savings, it could even mean speaking to an injury lawyer and claiming compensation if you’re out of work because of something someone else did. Having this bit of money to get by at least allows you to make ends meet until you’re in a better financial position.
Rework your budget
Take a look at your budget and work out where you can make cutbacks. You’ll need to tighten the purse strings, so any luxuries or extras you don’t need can be cut out for the time being to allow you to use the money you have as best you can. If you’re out of work and having to claim benefits then this will likely be a lot less than you were getting before, so it’s important to use this money in the best way you can. Cancel your Netflix and Amazon Prime subscriptions, work on reducing your grocery bill and stop ordering takeaways. You don’t have to do this forever, but just until you’re earning a stable wage again.
Speak to your creditors
Falling behind with bills and getting into debt is one of the most stressful things about being between jobs. One of the very best things you can do is make some phone calls and explain your situation. Some companies will agree to freeze your account for a few months, and others will prevent letters being sent out demanding money. At the very least, this should make things less stressful for you during a time that’s already stressful. Creditors and bill companies will be well aware that they can’t get blood out of a stone, you might be able to negotiate lower tariffs, interest rates and other things which can save you money or at least stop you from falling behind as much.
Start a side hustle
While you’re out of work, why not start a side hustle? If you’re claiming benefits then you might be limited with the money you’re allowed to earn, but if not you can make some extra cash freelancing. Writing articles, designing logos or websites- think about the skills that you have. If you own an established blog already, you could look into ways to monetize such as by joining sponsored post websites. Anything that you can earn can be helpful when you don’t have much coming in.
