Unless you are independently wealthy or anticipating a huge (guaranteed) payout in the future, no one can afford to be unemployed. Even though the economy is showing small signs of recovery, there is still a long way to go before consumers will feel confident in receiving a paycheck. Unemployment as most of us know is at an all time high and even though there are fewer people losing their jobs each month, the number of individuals who have lost their income in the past year is higher than ever. For many of these consumers, unemployment benefits are running out and finding employment is not a guarantee. If you are facing this situation now or anytime in your life there are a few tips that will help you through these tough times.
Unemployment benefits are designed to help people until they find a new job. They are not intended to replace your income. Unfortunately if you have done everything in your power to find employment to no avail you will reach a point where your unemployment benefits are due to expire. In a recession the government is well aware of the lack of job opportunities and often extends unemployment benefits. If you are receiving unemployment and are nearing the end of your benefit period, find out if there are any extensions available to help you through until you find a new job.
Half of unemployed people will not find a job within six months of first becoming unemployed. In many cases you might have to consider jobs that you previously would not have looked at twice. When the economy takes a turn for the worse, any job is better than no job. It is often a hard pill to swallow to accept a position for which you feel you are overqualified, however it is important to remember every job is necessary in society. Remaining gainfully employed, even if not in your field is more important than finding your next career.
Do not be afraid to accept help during tough times. Individuals who are making every effort to fend for themselves often find that they still need help making ends meet. There is a difference between people who abuse the system and those who legitimately need help during down times. Do not allow your pride to stop you from accepting help from government or community programs which have been specifically designed to help people during tough times. If you are having trouble buying food, heating your home or providing medical care for your family- contact local government offices to see if you qualify for assistance.
Dealing with unemployment is difficult in the best of times. It becomes even more difficult when there are six other people vying for the same job you are interested in- for this reason it is important to have realistic expectations. When times are tough it becomes more important to not fall behind than to get ahead. Do not let this discourage you from your long term financial goals….in time the economy will right itself and as long as you have made every effort to stay afloat you will be able to get back on track soon.