Tips to Manage Finance For Unemployed

By | June 23, 2015

Crisis of job loss can be in two forms, namely emotional and financial. How to meet daily needs is a basic question. At this terrible situation, life would be better if you can manage your finances properly.

personal account

The following tips based Economic Times quoted, which can make the day sad loss of a job for the better:

1. Manage your debt well

Almost all workers with fixed income have an obligation to pay the debt, such as car loans, homes, apartments, and more. They have expectations of the job will still be there.

If you have a home loan and suddenly no longer have a job, then it could ask for waivers to the bank. More options, lower installment and extend the tenor up to get a new job.aid.

2. Avoid credit cards, use cash

When idle, should no longer use credit cards. This card only facilitates impulsive purchases. By using cash, you will reduce spending and tend to buy that you really need.

3. Reduce spending

Strikeout expenditures that do not need. Money hanging out, drinking coffee, and others must leave the list of expenditures. When unemployed you should be more concerned with the budget for food, health, and other primary needs. You have to think of money in savings will be depleted if not stop lifestyle unnecessary.

4. Think alternative earn revenue

You can take part-time job or freelance work to earn money. Think of a lucrative source of income, while still look for a better job