Five Things To Consider When You’re A Financially Overstretched Job Seeker

So you’ve come to a mildly unattractive situation. Your bank funds are painfully overstretched and you still haven’t gotten a call back from one of your job applications. The important thing to do here is to accept your situation, take it with a grain of salt and move on.

Any time wasted on lamenting the sad state of your life or pouring out your woes to your friends is just exactly that—time wasted. The important thing to do here is to keep moving forward. Any step in a different direction won’t get you anywhere. Here are some things that you may want to consider doing so that you can get back on your feet and finances soon:

1) Shed those personal and outstanding debts. This is definitely the first thing you must do. Remember, those interest rates do nothing to help your situation. The last thing you want to happen is to see them climbing and making your situation much worse than it already is. The important thing to do here is to be proactive.

Do not sit around hoping that your credit situation will improve on its own. Cancel subscriptions you don’t need, gym, premium TV channels or magazines can wait till your situation improves. Use this money to lower your debts.

2) Downscale your property. Yes, it is definitely time to take a step back and try to live on less. This means getting rid of everything that you do not need and only serves to complicate your life and your bills! This would be a good time to scout around your house and getting rid of anything that you have simply stopped using.

Old gym equipment, old clothes or even your bike can be written off for sale. Imagine the amount of money you can make from stuff that you have absolutely no use for. Do a full sweep and be ruthless. Now is not the time to be sentimental.

3) Live with your parents or friends. Before you balk at the idea, remember, this is a temporary set-up. A few months is all you need to get back on your feet. Explain to your parents that this is only for while you are on a job search and if they are understanding enough, they shouldn’t have any reason not to let you stay for awhile.

Just remember to return the favour and not sit your butt all day. Do the dishes, wash the car, walk the dog…be helpful. When the time comes that you are making enough money on your own again, graciously say thank you and start looking for your own place again. Do not overstay your welcome.

4) Get a lodger. This is an excellent way to make money on the side while not actively doing anything. This will help you take care of your utility bills and other financial needs while you are searching the job market. Taking in a lodger can also mean added security for your home provided it is somebody you can trust, for all the time that you are away. There are no statutory rules involving lodgers as well so if your lodger proves to be unsuitable, you will have an easier time removing him from your premises.

5) Take a weekend job. No better time to take on a part-time job at a pub, a coffee shop or a restaurant. Most of these places can always use a hand especially on the weekends. Try it out and earn yourself some cash on the side.

Again, the secret here is not to remain idly waiting for the phone to ring. You must keep yourself busy and keep the spending low. Inspiration and luck can strike anytime so make sure you are prepared for it when it comes.