Tips for Surviving Unemployment – Part 1
May 12, 2009 by Jennifer Chait
Filed under Workplace
Surviving unemployment can be tough, but with the current unemployment rate at 8.9% surviving, or trying to, is exactly what many are having to do. Following are some tips that can help you out if you find yourself with a pink slip; FYI we’ll be looking at more tips later.
Stay calm: Not easy I know, but if you’re out of work you’re going to be searching and searching on top of being frazzled is going to make the situation worse.
Get organized: Get your job search organized well. For example…
- Look up old contacts (or current) who may have job leads. Send everyone a short email with your current contact info and let them know that you’re looking for work.
- Bookmark the best job boards both nationally and locally.
- Spend some time updating your resume and a general cover letter so it’s almost ready to go once you find a job.
- Get up early and act like looking for work is your job. Technically it is, so get up, get dressed, and start your hunt. If you’re unemployed, most of your day should be spent looking for jobs, sending out resumes, and calling companies. Treat looking for work like a professional job.
Apply for benefits NOW: If you put off applying for unemployment benefits, you’ll get that first check later rather than sooner. Unemployment benefits won’t affect your credit rating, it’s not welfare, and it won’t stop you from getting a new job, so you may as well take the benefits. Benefits usually last 26 weeks, although right now, there are extended benefits being offered. So long as you exhaust your current unemployment benefits Dec. 31, 2009 you’re eligible for extended benefits. In high unemployment areas, you may qualify for even further extended coverage (13 to 20 weeks). You need to check with your state’s employment office for details about how to apply for unemployment benefits. Your local office can also tell you how much you’ll likely be getting.
Keep your health care – if you can: Keeping your employment health care going can be spendy, but right now it’s worth looking into Extending your workplace health coverage because the new economic stimulus packages is giving some of us a little extra wiggle room on costs.
Kick your budgeting and saving habits into high gear: Now is not the time to flake on budgeting or saving money. You have less incoming cash, maybe none, so each and every penny counts. Read the following posts for tips on creating a good solid budget and for some money saving tips…
- Using an Envelope System for Budgeting
- Questions that save you money each day
- How to Make a Budget and Stick to It
- Learn to count EVERY penny
- Make Your Food Last Longer to Save Money
- ABC’s of Money Saving
- Save Money All the Time
- Teach Kids About Budgeting – if you’re a total newbie to budgeting, check out how kids (and you) can learn how to budget.
Coming up, more tips that can help you if you’re unemployed. Feel free to share your tips in the comments.
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I read an article in the newspaper that says everyone should have business cards. Business cards are more informal than a resume, you can have them on you at all times, and people are more willing to accept them.
You have to prepare for the for the days when you are losing your job. While there is work to do you have to minimize your expenditures in order to survive for the future.
A few other tips for unemployed and insurance – since COBRA can be expensive, people who lose benefits through work, especially those without pre-existing conditions, have other inexpensive routes too. Many health insurance companies offer short-term coverage. People can be on short-term coverage for up to a year, sometimes longer (regulations do vary by state, I think, but there are some limits for length).
Another option is looking at a higher-deductible or non-traditional plan. Our health insurance company offers something with relatively low rates called “three for free” which includes three free office visits per year, and the first ER visit is completely covered after a $500 deductible. Preventative care is also free on this plan (no maternity coverage though). Both of these can be great options, since workplace health insurance rates are usually based off of a very high number (for example, my husband’s company pays $500/month for his plan, but we are getting nearly the same coverage for less than $90).
I’ve been unemployed since I graduated in May. As much as I would love to have a full time job it’s given me the opportunity to start my own business doing what I love and also help out other unemployed people!!