How to Save Money When You Are Unemployed

It is Possible to Learn How to Save Money When You Are Unemployed, Even When You Don’t Have A Savings Mindset

Learning how to save money when you are unemployed is not difficult, but it does require some concentration and tracking your spending. Blaming yourself or others is a useless exercise when you have been fired from your job,  but you should be thinking, how to save money, instead.  You are definitely not the first, or the only one who has been laid off  a  job, in fact, there are many more like you who have efficiently come up with solutions, it just takes a little time.  Others are successful due to their concentration on support and confidence building.  If you are a victim of a current or past recession, and job cutbacks, then the time has come when you should think more, and blame less.

Considering the fact that job searching is time consuming and costly, saving money on each small item, and in any way possible, becomes crucial. This is because, you will still have to pay for health costs, rent, utilities, groceries, and other necessary bills. To help you save a significant amount, here are some great ways on, how to save money,  that have been tried, and recommended, by other unemployed folks.

Evaluate Your Expenses 

The process of saving money begins with the evaluation of your expenses and listing everything ranging from the least important to the most important items. It is obvious that things like car insurance, credit card payments, student loans,  and rent will be on the top and other not-so-important things like newspaper subscriptions, cell phone expenses, and entertainment cost will be at the bottom. It is also crucial that you discuss payment difficulties with anyone you owe money to at this time, don’t ever ignore those you owe money to.

Resell and Save Money

There are probably lots of “stuff”, you have that you are not using, don’t become married to useless “stuff”, let it go, if it will help to pay bills, you can’t afford to keep it. Here are a few things  you can consider selling in order to make money for savings.
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If you have unused gift cards – sell them: An average household in America holds new gift cards of more than $300. An estimated amount of $30 to $40 billion comes up from gift cards that you can normally find lying unnecessarily in the drawers around U.S. households. Without a doubt, you can make money by selling them, as a number of people are always willing to buy gift cards at a reduced price.

Recycle: Though many households regularly recycle  items, now it is time  to recycle everything you find that is recyclable. A lot of things like aluminum, scrap metals,  or steel are best for recycling in exchange of money. The amount you get for recycling is not a lot, but it may be adequate to pay off some small bills and save a little money. Cancel all newspaper, magazine and other unnecessary expenses, to save money for other bills.

Even the little things can add up:  On  tough days when you scour payments, thinking  how to save money, even  little things may prove to be a boon. Look around and see what small things you have in your home that can easily be sold to pay a bill. These small items can  include unwanted clothes,  dusty knick-knacks, and an over-supply of neck ties and artwork. There are many sites such as eBay and craiglist that purchase and sell for you, also consider your local flea market.  

Save Money with Smart Moves 

These smart moves show you how to save money that can add up to large sums.

Choose One Room For Your Family To Hangout: With everyone sitting in different rooms, your electrical bill will become unnecessarily large. The more lights, tv’s, and computers  you turn on, the higher your electrical bill. As you see, it is  best to save money by running electricity in one room, than three. Also, do not keep heaing elements turned up all day long during winter months, instead, turn them down to a minimal temperature, and maintain a low bill. The opposite holds for air conditioners.

Look for generic brands:  Buying generic brands can decrease your spending by as much as 20-30% on many items. And, buying all the essential commodities from a high-end store will cost you more, shop discount grocery stores. Also, consider serving less expensive recipes over the more expensive recipes. Moreover, even the simplest recipes can be healthier than expensive ones, so why not try them. Other products you buy in a discount store will definitely have a cheaper alternative.

Reduce expenses on entertainment:  Say, you only watch a few channels in your expensive cable line up. So, you should look for a package that only covers your favorite channels and charges you less. The dish, directtv, and cable companies now give subscribers the autonomy to create their own favorite package, so that they can pay only for the channels they want. If all of that fails, just get the bare bones cable, and look into an alternative such as netflix.

Cut short your phone bills:  When you have no job, and your budget does not allow you to do all that you want, the first thing you should reduce is your phone bill. Make sure your phone is covered with unlimited long distance calls. Make sure your cell phone has enough coverage for emails and text you can afford. Phone bills are some of the easiest to trim, at least when you have very little money.

Save Money During Your Job Hunting Process 

There is no doubt that the job hunting process involves  cost, but at the same time, the tag of ‘No Job’ leaves you with no other option than reducing such expenses.

List all Expenses in Line With Your Job Search 

Cost arising out of printing resumes, buying clothes appropriate for each interview, and so on will obviously put a burden on your pocket without producing any confirmed results. Keep tract of all expenses and the results you get, each time you use them.

Reduce Expenses on Driving 

Your car is not going to run without gas and you cannot burn gas all the time when your income is low, and expenses are many.  Simply put, you cannot afford to drive a car each time you get a call for interview.  By limiting gas usage and taking public transport instead of your car, you can save a substantial amount of money for other job search uses.

The above, are just a few ideas you can garner from;  how to save money when unemployed. Now list some of your own.


Lois Center-Shabazz
author of, Live Rich Save Money! Budget Diary
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author of, Live Rich Save Money! 68 Powerful Ways to Save Money, Now and Forever
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