In this third installement of "Strategies for Dealing with Unemployment" we will examine the financial issues created by unemployment.
You should create a budget for yourself so you can survive on less money than you are accustomed to. It would also be a good idea to sit down with your family and let them know of pending lifestyle changes that may be forthcoming. Develop a plan "B" that can generate some income and implement it immediately.
Five things most people can consider to earn extra income while you are unemployed.
1. Landscaping
2. Car Detailing
3. Babysitting
4. House Cleanning
5. Personal Services (running errands, transportation service etc..)
If you were fired then you need to apply for unemployment benefits as soon as possible. You can sometimes take care of this online and sometimes you have to go to the state unemployment office. Know matter what handle this task immediately. If you have a 401k seek the assistance of a financial professional to determine if or when you should rollover your 401k proceeds.
If your company is downsizing and your position is being eliminated you need to find out if you are going to be offered a severance package. A severance package is a portion if not your full salary that you will receive for a specified amount of time.
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