Being unemployed comes with a heavy financial burden.
If you don’t know when your next paycheck is coming, you will have to pay for all of your expenses with what is in the bank. Often it is not enough.
We have rounded up 10 ways to cut costs and save so you can make your money while you are unemployed.
1. Establish a bare bones budget
Transition to a Bare bones budget Only essential expenses such as rent or mortgage, utilities and groceries are prioritized. Pause or cancel monthly charges that are not required, such as B. Your cable subscription or gym membership.
2. Ask for help
Don’t dismiss the idea that your lenders and service providers may be able to help you with this difficult financial problem. Lots Credit card companies have hardship programs This can lower your monthly payments or waive fees. You may be able to switch to one earnings-related repayment plan for your student loan or request a Respect or forbearance. Contact your creditors and bill collectors to see what assistance they can help you with. Just make sure you understand what it takes to make payments.
The United Ways 211 network provides food, housing and health assistance to people facing financial crises.
3. Use No Commute
Not driving to and from work has its advantages. Check with your auto insurance company to see if you can lower your premiums by driving a lot less. Rent your car for extra cash. Getaround is a peer-to-peer car rental platform that allows you to lend your car to strangers.
4. Opt for a cheaper cell phone tariff
Having a reliable phone is important when applying for a job. However, that doesn’t mean you have to pay more than $ 100 a month for cellular. You can get one cheaper cell phone tariff for less than $ 20. Yes, seriously.
5. Be strategic about your purchase
Plan your meals and stick to your list No impulse shopping in the grocery store. Limit the frequency of your grocery trips to no more than once a week. Focus your meals on what’s for sale – and what you already have at home. Shop generic or Ask the brands that you send coupons with. These other shopping tips will help you with that Save money on groceries, to.
6. Pay for purchases in cash
ONE Cash handling system will keep you from going over your budget. Just take enough cash with you to go shopping and leave your debit and credit cards at home.
7. Save your change
Even if you need to cut back on your spending, small treats like buying a cup of coffee or ordering a cheap pizza can be a nice boost during unemployment. Make a habit of rounding up to the nearest dollar when buying and setting that change aside. When that money adds up, you can have a little guilt-free treat yourself.
8. Converse without spending any money
Living on a tight budget doesn’t have to be fun. This list of 100 free things to do gives you ideas on when to take a break from applying all day.
9. Get free goods and services from neighbors
If you are on a tight budget, anything you can get for free is welcome. Don’t buy anything groups, Nextdoor, and Craigslist are three platforms where neighbors post free items. You could too choose to swap by swapping something you have (or a service you can provide) for something you need.
10. Check for any cash left behind
Your state may be sitting on cash owed from forgotten security deposits, unpaid paychecks, and unknown life insurance policies. Check if you have unclaimed money can be a quick and easy way to top up your bank account. If you’re out of luck along the way, search your wallet to see if you have any balance on old gift cards. Remove your sofa cushions to find spare change. Every little bit helps.
Nicole Dow is a senior writer at The Penny Hoarder.
This article originally appeared on www.thepennyhoarder.com