“That was the coldest night reported by meteorologists when I was settled deeper into my reclining chair near the window looking up at the full moon, the gust of cold wind swinging through trees, making loud noise. I was totally depressed, feeling like ruined as I was laid off.
“I felt a stream of anxiety crept up, my heart thumped against my chest and my brain muscles tautened as if in a matter of a second they would burst causing the blood to gust until my wife put forth suggestion on how we can survive until I land a new job.”
Like Joe, many of you must be familiar with this critical situation. While you manage to set aside money all the way for any unexpected event, unemployment does not seem to be an easily tackled situation.
As your employer terminates you, no matter why, you should immediately get to grips with your finances. Fetch your bank statement to evaluate every single dime you spent throughout the month. Make a list of small and big expenses and categorise them into essential and non-essential expenses.
Many people create a realistic budget but fail to have enough of money in case of emergency. Unemployment is a big concern and keeping the wolf from the door unless you land a new job is not a cinch, which is why you apply for unemployed loans for people on benefits.
Joe took out these loans, but the danger was hovering over. Benefits and other income sources were falling short of paying off the debt. Though these loans allowed him to repay as he got cash, the burden of lump sum payment refused to let up.
These online funding sources are easy to obtain; you can borrow money despite bad credit history. Flexible repayment terms help you repay the debt. However, it is crucial that you take out these loans from reputed direct lenders such as Aone Finance UK, Uncle Bucks, or any other.
Joe’s wife worked on the strategy to cut down on expenses. She figured out several areas where they could save money. If you are also struggling to reckon with overspending, follow what Joe did in his tough time:
Having lunch and dinner once a week at a restaurant along with takeaways can cost you hundreds of pounds. Occasionally, eating out or family get together is healthy but during unemployment, it can cost you a small fortune. Mainly, people prefer restaurant food because of disinterest in cooking. You should try to eat home-cooked meal. Joe and his wife could save around £350 when they shifted to home-cooked meal.
Work pressure and strict deadlines make you enervated by the end of the day. You got hardly weekends to live your life the way you want. Why pay more if you can entertain yourself at lower prices. Amazon provides a huge collection of latest movie DVDs at nominal prices.
Do you love reading? You can enjoy it without spending a penny. Go to libraries where you can get free access to reading. A large collection of books stacked from the ground to ceiling; choose the one that you want. It is worthless buying books from a store for £10 or £20 if you can read them free of cost.
You have to skimp on your food and drink when you are on a tight budget. Feeding a family of four is undoubtedly very tough when you are out of work. However, it does never mean you will bank on cheap, low-quality cakes. Nutritious diet is imperative if you do not want to end up paying medical bills. Try to be a smart shopper, buy groceries from a wholesale shop, ditch junk food and do not gulp down alcohol. Cut down on smoking if you are a heavy smoker.
Health is important but gym is not the only way to stay fit. Brisk walk, jogging and yoga are better and above all cost-free methods for improvement in well-being. Gym usually costs more than you expected. Your fuel cost goes up if it is far from your home. Cancellation of gym subscription unless you get a new job may save you a lot of pound.
You can also switch to a cheaper phone plan, cancel buying magazines, and reduce your visits to cafes and nightclubs. The money you save out of them can be used toward the repayment of unemployed loans.