I was reading an article on Yahoo, asking people to tell their stories about unemployment, and lo and behold, there were 2600 responses from people with their stories. This is why I have decided to change gears a bit and do a week about surviving on unemployment, or even worse, nothing.
First, let me say, I sympathize with anyone who has gone through the same thing we have. Bring up 4 children on 1 salary isn't easy, let alone if you were living on one to begin with. Our family scrapes by on our income. Over the past year, our situation has dramatically improved. Before I spend a week on this subject, I want to give you, the reader, a few tips. These are not only good for the unemployed, but for anyone trying to better their financial situation.
1. Immediately cut down as low as you possibly can. This may or may not mean cutting luxuries, but it does mean cut anything that you have been putting off. For example, we paid for 9 months for a house phone, and never even used it! We just didn't "have time" to cancel it. At least that is what we told ourselves. But not holding off on it and cancelling it immediately would have saved us $270 that we wasted because we didn't.
2. Going back to school and finishing your degree, getting a different degree, etc. may not be a great option for several reasons. A long term program may risk losing your unemployment. Also, many college graduates are finding themselves strapped with student loans AND still having a hard time finding a job. Child care is expensive, and the stress from being unemployed and needing money may keep you from obtaining your goals.
3. Learn a trade, a skill, or take a class. Some skills can be turned into money making opportunities. Still others will save you money. Use what you have. Have a lawn mower? Put it to use. Have a talent with the piano? Teach lessons. Sewing machine, sew! This could help you make a bit of extra money to get you through.
4. Put the kids to work! I have an 11 year old who will do just about anything to get some extra money! Have them take surveys, click ads, or write articles (just make sure they are only doing the clicking. Being the honest person you are, it should be easy to sit one of your children down with a laptop on the kitchen table. Teach them to click the ads and check them out while you are cooking, folding laundry, etc. Give them a "cut" when you get paid, and have them put it towards, for example, that new pair of shoes they wanted. If you have older kids, help them start their own business mowing lawns, babysitting, petsitting, etc. It won't help you directly, but it could lighten the expense load when that kid can pay their own way when they want to go out with friends or that expensive new shirt. I put together a few money making websites that I use HERE. Some sites are better than others, but then again, I like to balance my day with things that actually require thought and attention and things that don't (things my kids can help with or that allow me to do two things at a time!)
5. Get back to basics. Work backwards. Do whatever you have to do (legally of course!) to help you get back on your feet! Rent an apartment and be content until you are able to pay cash for a condo, and work your way up. I know this sounds difficult if not impossible, but following these tips, and having a dedicated place to put this money will help you. Maybe start with a inexpensive lot and put a small trailer or even an RV on it until you can afford to build your own home.
6. Get creative! This is the single most important thing! When you have no money and few job prospects, the easiest thing to do is to save money. Once you count sales taxes and income taxes, for every dollar you save, it could actually save a lot more. Do your own math, and find out what that dollar burger really costs you once you pay Uncle Sam.
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