Browsing Tag

unemployed

Debt

Debt Relief Strategies To Follow When You Are Jobless

Turning jobless all of a sudden causes a traumatic experience for one and all. You’ll just keep wondering as to how you’re going to meet your regular expenses. Only by following the right debt relief strategies, you’ll be able to pull yourself out of this situation. Coping with this unfortunate situation gets easier when you gain a certain grasp over your personal finances.

Grasp Your Finances

Your primary target is to curb your monthly expenses by as much as you can. You must step into your shoes the sooner your shock of being jobless fades away. Your initial step involves applying for the state unemployment benefits and knowing how much that amounts to. You must transfer any severance package that you may have got from your last job to your savings account. You may even try finding a part-time job to feed your current expenses. It is a good ploy to earn through an odd job while you’re looking for a full-time opportunity.

It is always in your interest to create a monthly budget on paper; do so if you haven’t it already. In order to find the minimum money you need every month, you must count the total of all your monthly expenses and bills.

January 29, 2015

General

What Would You Do If You Lost Your Job?

Have you ever thought about what would happen if you lost your job? Would you be able to maintain your existing standard of living, or would you feel the pinch of loss right away?

There are some things you can do now, while you have a job that will help you in the event that you lose your job for some reason. Here goes:

Tuck away at least 20% to 30% of each paycheck. Put these funds into a savings account. A great account to use is the Tax Free Savings Account. Just make sure that you select an investment type that is easily accessible should job loss occur. If you’re not good at saving on your own, ask your employer if you can have deductions come directly off your paychecks.

January 27, 2015

General

What Are Your Options When Unemployment Runs Out?

Unemployment benefits can be a great help to you when you need help getting through tough times after losing a job. The loss of a job is often unexpected and can be life-changing, so it is really a stroke of luck to have unemployment available as a safety net. However, the much-needed relief that unemployment provides is not a permanent solution. These benefits are meant to tide you over between jobs, not serve as a long-term source of income. Eventually, unemployment is going to run out. When it does, you are going to have to start looking for the next step to take.

Of course, preventative measures are always better than urgent emergency treatment. What this means is that you should be prepared for the time when unemployment runs out. While you are still receiving unemployment benefits, look into your state’s laws to find out how long you can stay on unemployment before the well runs dry. Check up on your unemployment time limit and find out if there is any possibility of filing for an extension. This will help you prepare for the day that your unemployment runs out, ensuring that you won’t be suddenly left high and dry.

March 19, 2013