First Things You Should Do Once You Become Unemployed
Finding yourself unemployed is an extremely stressful experience. You need a job to survive and without a regular income, it can feel like your world is crashing in around you. It’s incredibly important to get yourself back in the job market as soon as possible. However, there are some things you can do to help you survive in the meantime.
Determine How Long You Can Live on The Savings You Have
The first thing to do once you become unemployed is to see what funds you have available to you at this time. Whether it’s savings or equity on your house or another kind of loan. Once you know how much money you have, you can determine how long you’ll be able to survive without a job. However, you may notice that your savings won’t go very far without some source of income, which is when other options can come into play.
Research Unemployment Benefits in Your Area
Many states offer unemployment benefits to individuals who find themselves without a job. The type of benefits, requirements and eligibility depend on where you live. So, conduct some research to see if you can receive aid from the government during your time of unemployment.
Sell Items You Don’t Need
If you’re in need of immediate money, it may be time to go through your belongings. Desperate times call for desperate measures and that brand new game console or luxury vehicle may have to go. If you’re unable to part from your prized possessions, consider selling smaller items that you no longer need or use. For example, sell all of the televisions in your house except one. You’ll still have television, just not in every room in your home.
Along with your belongings, you may want to consider making some lifestyle changes until you find employment. Decrease your Internet, cable, and cell phone bill, stop ordering takeout, lower your electricity usage, etc.
Downsize and Put Items in Storage
Another option is to downsize completely. This can significantly decrease your monthly bills. If you have too many belongings to downsize to a smaller style of living, consider putting items in storage. They will still be there when you’re back up on your feet, and you won’t have to replace all your belongings which can come at a hefty price. So, a storage unit is an affordable option when downsizing, whether for temporary purposes or for a long-term change.
Relocate for Better Sustainability and Employment Opportunities
If the job market doesn’t seem to be in your favor, you may want to consider relocating. This can be a huge change and should never be done without careful consideration. However, relocating upon unemployment can help you survive longer on your savings. For example, if you live in New York City, moving to the outskirts may be a smarter option for the time being.
You may also want to consider relocating to an area with higher employment opportunities to make the best out of an unfortunate situation.
Perfect Your Resume and Cover Letter
If all else fails, the problem may be on your resume. A bad resume will always be detrimental to the potential of landing a job. Ask a couple friends or family members to review your resume and see if there is anything that could be working against you. While it may seem trivial, a simple comma missing or minor error can send your resume to the rejection pile in an instant.
You may also want to conduct some research online and discover tips and tricks to writing a powerful cover letter and resume. Times are always changing and an outdated resume could be affecting your chances at landing a job.
Unemployment is tough but it doesn’t have to be detrimental. With these tips, you can get back on your feet in no time without having to struggle in the meantime.Back to all blogs
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