Budget

How to Survive a Period Out of Work

When you’re out of work, it can be a knock to your confidence. Not only that, but it’s likely to have a significant financial impact too. Even if you have a partner to support you, your combined income is reduced, so you need to work out how to survive. Making it through a period of unemployment when you might be unsure about when or even if you’ll get back to work takes strength. It can get you down and cause a lot of stress, but there are ways that you can get through it. Here are some of the things you can do.

 

Cut Your Expenses

 

When your income goes down, the first thing you should do is look at how your expenses can come down too. The less you spend, the further you should be able to stretch any remaining income or savings. There might be some expenses that you can’t reduce, such as rent. But there are plenty of others that you might be able to lower, from energy bills to grocery costs. Plan to postpone anything you had been intending to buy that isn’t necessary, such as home improvements. Lots of small savings can add up so that you don’t waste money.

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Claim Benefits

 

There could be a few different benefits and assistance programs that you’re eligible for while you’re out of work. Firstly, you can claim unemployment benefit from your last employer if you unexpectedly lost your job. You can also look into applying for things like SNAP for help with food costs. If you have disability insurance and have recently become disabled, don’t forget to make a claim. If you need any help with your claim, you can visit https://www.longtermdisabilitylawyer.com/insurance-companies/unum/. Getting legal help can ensure you are able to get what you’re entitled to, even when dealing with difficult companies.

 

Look for Alternative Income Streams

 

While you might not be able to find a new job right away, you might consider finding other ways to make money in the meantime. Unless you’re spending every single minute of the day looking for work, which is unlikely, you can probably spare some time to do other things. You could consider finding some work-at-home positions or perhaps advertising your skills online to find some freelance work. Some people choose to spend some time doing odd jobs or perhaps pick up some temporary work for a few weeks or months.

 

Stay Occupied

 

Being out of work can leave you feeling bored and isolated. You don’t have colleagues to talk to all day, and you can even feel ashamed to go out because you don’t want to tell people that you’re not currently working. As well as spending your time looking for work, make sure you stay occupied and try to keep your mood up. Perhaps try some volunteering, which can help you feel productive and allow you to meet people.

 

Survive being without a job by making a plan. If you set some goals and make some smart choices, you can get through it.

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