by Rae Lynne Morvay

Created on: February 17, 2010   Last Updated: November 26, 2011

When you become unemployed it is essential to do whatever you can to keep yourself afloat while you are looking for a new job.  Experts are saying it is taking up to 8 months in this current economy to get a new job therefore every penny you can earn at this time is very important to you.  Before I get in to ways to make money when you are out of work let me just stress that the first plan of action should be to go to the unemployment office right away.  The sooner you go the sooner your unemployment will start.  So don't delay on that at all. 

Make Money by Saving Money

There are plenty of ways to make money on line and I will get in to those shortly but the first line of defense for you will be through making money by saving money.  Cancel any extra phone services you may have, cancel your extra cable channels, go through all of your bills and see where you can cut back monthly.  Remember every penny is important now.  Call your car insurance company and try to get a better rate, if you are being charged extra for the mileage you use for work inform them that you are no longer working at that place and since you will be home your mileage will be much less.  If your current agent is not willing to lower your rates then call around and get quotes, chances are you will find cheaper rates.  I recently saved $11 per month by doing this.  Now $11 is not a lot of money, but every penny counts and that can be $11 that can go towards your mortgage or your rent. 

Clean Out Your House and See What You Can Sell

The next thing you should do is go through your home, go through your crawl space, your closets, your attic, and your garage. Find items you have not used in years and get ready to set up a garage sale to sell your items.  Garage sales are hot now with the economy being it what it is and everyone is looking for a bargain.  Invite friends and family to bring things to your garage sale and help out.  Make an agreement that you will do one at your house this week, and their house the following week.  Different things sell better in different areas then others.  I did this with 3 different friends one year, I sold almost everything that way, and since everything was already priced it was easy to just bring it to the next home.  We all made a lot of money with our little garage sale club. 

After the garage sale or sales are over see if you can sell any clothing to consignment

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