When unemployed, you certainly can still have opportunities to save money, though the amounts may not be the same as when you were employed where you can always look forward to a regular income. Keep yourself from ever going in despair (though this is easily said than done, admittedly). Being under a state of unemployment, of course, has its own set of challenges that may still be unknown to you (especially if this has been the first time that this happened to you). Work on looking at the idea in your mind about the very act of “saving money” – it can be actually equivalent to “earning money.” Combine it with your own baby steps (as it takes discipline and focus to overcome your own self) to take action now (despite repeated failures), and your efforts will be rewarded in time. Other tips that may come handy include:
1) Trade or barter your skills for services or products that you actually need and want. Write down now an inventory of what you can actually do well in exchange for these services or products. Start first within your network. For example, are you single and are you willing to do caregiving works, just like doing the works of a home health aide? If so, you may exchange your services for board and lodging with the elderly or the disabled. Check similar possibilities within your own field of interests and passions.
2) (If you haven’t done so yet) It’s time now to draw a budget that will give details on the money that comes out of your pocket versus the money that you still have. You need to strictly list down all these items everyday. The information you can draw will help you design and evaluate a spending plan on you and your loved ones now that you are unemployed.
3) Have you switched to some other leisure activities that will not make you spend any money at all every time you engage in one? Consider switching to activities that will not cause you to shell out money. Examples: reading books (you may just borrow from the library), watching movies on the internet (or even TV programs on the internet), engaging in physical exercises to tone your body and stay fit even when unemployed, among others.
4) Have you done an inventory of items in your house which you can sell or dispose in exchange for some more cash? Extra cars, extra furniture and fixtures, jewelries, another house, kitchen equipment, among others. Do it now, or sooner. This will help you leverage on the prices, as people will not try to take advantage of your situation (as they may have not heard yet, or learned yet of your being unemployed now).
5) Have you considered cutting off your cable TV connection (or just reducing the number of channels you can access)? Have you considered downgrading to the basic, cheapest plan for your celfone needs? Have you got a work-out plan to save on energy costs?
6) Try to do thrift store shopping now and be an expert on it, for your own wardrobe needs (that is if you don’t have that many clothes in the first place). Or even do dollar-store or discount store shopping for your utilities.
7) Have you tried to explore making living arrangements with another family (or other gainfully employed individuals) while you’re unemployed? This may help you save some more valuable cash out of the rent that you will continue to pay if you live on your own.
8) Try renting out a live-able, well appointed space in your house (if you own one, or paying a monthly mortgage for one) to people who are looking for such a space.
9) Do a lot of your own cooking for food, instead of going out to eat. This calls for careful planning of what you can still buy with what’s available in your pocketbook. Learn to cook now, if you’re not able to do so now – you’re feeding yourself anyway (and not anyone else). Don’t throw leftovers in the fridge – redo them for some tastier meals.
10) Try as much as possible to associate with people in your network who are employed who themselves may now be trying to avoid (in their own subtle ways) your company. Don’t take it against them – it’s very natural. You can’t afford to be grouping yourself with others who are unemployed, as chances are, you’ll be competing with them for jobs. There are more chances that those who can refer you to jobs or work with earning opportunities are those who are employed themselves.
11) Avoid having pets that will still depend on you for food (and other unexpected charges for keeping pets) – these are additional costs on you now that you’re unemployed. Find a way out, no matter how hurtful this may be to you now, if you have a pet or two now.
12) Do you have extra space on the ground around where you live where you can actually do planting for some food staples? Or can you do some planting in pots in the space where you are now? Or better yet, change those wonderful looking houseplants with plants that you can actually harvest and eat in time. You may do this with other members of your community.
13) Do volunteer works for spare time each week. Serve in communities or in establishments that will provide some of your material needs (which you can identify yourself) in exchange for your service. This will also help you network, and be in touch with others.
14) One key step in all these tips is to start living within your means – if you haven’t done so yet. It’s false pride to still keep leading a lifestyle that you used to have when you were still employed – and you’ll be hurting yourself in the long run if you persist on doing so. This hurts at the start, but you’ll get stronger and far braver in time.
Remain grateful. Look closely around you – there are a multitude of people out there who are in far more worst situations than you are now.