If you've lost your job in the past 15 months, you are not alone. The Center on Budget and Policy Priorities estimates that “In May (2021) approximately 29.7 million people, including 7.0 million children, were living in a family that had at least one adult in the last week due to unemployment or the pandemic had paid work. “In addition, they say the current unemployment rate is close to 6%, but just 3.5% before the February 2020 pandemic. While the United States has won back jobs, we haven't won back enough of them. If you are unemployed, this is what life in unemployment should look like in order to survive.
How to Manage Your Money After Unemployment Expires
The first step you should take after your unemployment ends is to find out what other help is available.
Secure other government assistance available
Thanks to the pandemic, there are more safety nets for the unemployed. Unlike more peaceful times in United States history, now if your unemployment ends, there may be other options available thanks to numerous stimulus laws passed during the pandemic.
Pandemic Emergency Unemployment Compensation
Check with your local employment agency a few weeks before your unemployment expires. You should be eligible for Pandemic Emergency Unemployment Compensation (PEUC). The agency should let you know about this benefit automatically, but if it doesn't make sure you ask so you can apply.
After the end of traditional unemployment and the PEUC, you may be entitled to Extended Benefits (EB). This unemployment is triggered automatically when a state reaches a specified number of unemployed in the state. So whether your state offers this or not depends on how many people are unemployed in your state.
Pandemic unemployment benefits
After you've exhausted all of the above options, you can finally qualify for Pandemic Unemployment Assistance (PUA).
Take steps to save your finances
While you are unemployed, before your benefits expire, make sure you are in a better financial position. When your unemployment benefits run out, you want to be the most secure financially.
Reduce household expenses
If you haven't already, reduce your household expenses. Eliminate all expenses that are not necessary. Yes, giving up the little joys in life is tough, but doing it now will put you in a better financial position as you reintegrate. Eliminate cables, your gym membership, after-school activities for the kids, expensive groceries that you can buy at the grocery store, etc.
Contact your creditors
Contact all of your creditors. Many mortgage lenders are working with the unemployed during the pandemic. Check with your credit card companies and car loan providers. Fortunately, student loan payments are currently on hold, but if they start again, as planned in September 2021, suspend yours so that you are not responsible for the payments until, hopefully, you are hired again.
Get private support
Photo by Joel Muniz on Unsplash
Also, take advantage of any private assistance available. Go to the blackboard to get your food. See if your local church can offer help. Develop private sources so you can make your money for as long as possible.
How to find or create a job
Two things usually happen when you are unemployed for an extended period of time. Desperate at first, you apply to every job posting you find, whether it suits you or not. Second, you may feel so depressed that it is difficult to apply for jobs that you avoid it.
Instead, take a different approach.
Only apply for jobs that match your qualifications
When looking for a job, only apply for positions that match your qualifications. This makes your job search more productive and even increases your chances of getting a job.
Talk to family and friends
Even if you may be embarrassed or ashamed to be unemployed and try to keep it a secret, take a different route. Let everyone in your life know that you are unemployed and looking for a job. You never know who knows someone who might have a job for you.
Other ways to increase your employment opportunities
Take these other steps as well to increase your employment opportunities.
Even if you want to continue living in your current city, you should be flexible if you want to be employed sooner rather than later. You may need to move around the country for a new job. If you're ready, you may be hired sooner. You should also be flexible with your salary expectations. When the pandemic is over, you will have time to find a job at the desired salary in your desired location.
Create your own gig
Depending on your skills, you may be able to create your own job. If you are experienced in bookkeeping, you may be able to do so privately from your home. If you have writing experience, you can become a freelance writer. Another option is to become a tutor in areas where you excel, such as: B. in mathematics.
Revise your resume
Have a few friends in the same field while you look through your resume. Is there any way I can change it to make it stronger and more attractive?
Also, meet with a mentor or professional friend and practice the interview. Not only does this make it more comfortable for you to have an interview, but your mentor can also give you honest feedback on your interview style. He can also give you suggestions on how to improve your presentation in the interview.
Go back to school
Sometimes returning to school is an option. You can acquire additional skills for your career or change your professional field completely. However, generally use this option as a last resort as it will be a huge time and costly school.
Unemployment can be scary and stressful. However, be aware that you are not alone. Millions of Americans are in the same situation right now. This is what life should look like when you are unemployed, in order to have the best chance of getting back on your feet and getting back to work sooner rather than later.
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