Tips for Surviving Unemployment

Yesterday we looked at Tips for Surviving Unemployment – Part 1. Not only are there tips in the post, but readers came up with some great tips in the comments too, so be sure to check it out. Today some more tips. The following tips are mainly related to what to do when you need cash asap because it may take a while to find a new job.

Don’t ignore debt: It’s much better to call your lenders for car payments, phone bills, or credit, then to ignore the pile. Explain the situation. Everyone knows that times are tough and most companies will work out smaller payment plan details for you temporarily, especially if they hear you’re looking for work.

Don’t tap into retirement unless it’s absolutely necessary: One, you will likely end up with outrageous tax and penalty fees. Two, you’re going to need those funds later. Three in a worst case situation, your retirement fund is non-touchable by creditors. If you own a lot of money, it’s better to do a bankruptcy, deal with it, and keep your retirement fund in place.

Downsize: Downsize your car, cut cable, cut out texting on your phone, and look for other ways to save on each monthly bill.

Rent out a room: If you own a house, or even rent a place with an extra room, consider renting out space to someone. Right now is actually a good time to place ads, because kids heading off to college often look for off campus housing and tend to move in August.

Get emergency money help: Your local state and cities programs are made to help people in times of crisis. Your taxes when you were working helped to fund these programs, so don’t feel bad if you need the help. Here are some resources:

National Food Stamp Program
HUD low cost housing programs
WIC nutrition program for pregnant women and parents of young children
Senior Farmers’ Market Nutrition Program
Department of Labor Employment & Training Administration
Head Start
Medicaid Consumer Information
Weatherization Assistance Programs
National School Lunch Program
Women’s health care programs

Contact your local Department of Human Services location for info on free and low-cost child care assistance, health care programs, and other programs you may be eligible for. Type “YOUR STATE NAME DHS” into a search engine.

Consider college: It’s somewhat extreme, but if your resume is not landing you jobs, going to college and gaining some new workplace skills may work for you. Between grants, loans, and other free college money to be had, you can pretty much live off college – not well, but it’s manageable. Most colleges also offer low-cost child care and low-cost health car programs for students.

Get some cash NOW:

Got any other ideas?

[image via stock.xchng]

Tips for Surviving Unemployment – Part 2