Quick Guide: How to Survive Unemployment

Quick Guide: How to Survive Unemployment

"Losing a job affects so many aspects of a person’s life that it can be an overwhelming experience and journey."

Unemployment rates are high in many states such as California has seen devastating double digits for the last several years. Layoffs have occurred due to the economic turndown. While there are jobs that are out there, the competition is stiff as there are so many potential employees searching for work too.  Losing a job affects so many aspects of a person’s life that it can be an overwhelming experience and journey.

Keep track of your expenses such are credits and debts.  Many employers require credit history checks for hiring purposes to look at the potential employee’s overall credit worthiness.  It’s important to maintain the credit history and keep it at a positive level.  Poor credit may show the potential employer that the potential employee may not be able to handle high pressure situations within their company.

Find out if you're eligible for unemployment benefits and file for it.  This will provide some temporary financial relief.  Find out whether you must apply in person for those benefits or if you can apply online.

Use your emergency funds to also help you through this difficult time.  This is why it is important to spend at least several months building up a solid amount of funds for an emergency such as unemployment. The emergency funds will help to pay the bills but only use the fund if you absolutely need to do it.

Look into working part-time if it is taking too long to obtain full-time work. Make money from a hobby, sell arts and crafts on Etsy or Ebay or look into starting a low cost business of your own.