Cope with Unemployment

Unemployment can be a stressful time. Without a regular source of income or a way to spend your time, you may start to feel anxious and adrift. However, unemployment doesn’t have to be the end of the world. By budgeting your money, maintaining your support structure, and actively searching for new jobs, you can make it through your period of unemployment with few scratches.

Steps

Saving Your Money

  1. Make a budget. Start by listing necessities: rent, groceries, insurance, and utilities. Next, list expenses that are important but non-essential. These might include cable TV, eating out, alcohol and cigarettes, and movies. Add up the amount you spend on necessities and add it to the amount you spend on non-essentials. This number represents your current monthly expenses.[1]
    • If you’re not sure how much you spend on certain items, look at your credit card or bank statements. They will list out the items you have purchased in previous months.
  2. Cut back on unnecessary expenses. Starting with your non-essentials category, find areas where you can cut back on your spending. For example, you might decide to forgo eating out during your unemployment, or you might decide to cancel your cable TV subscription. Cut out as many expenses are you can manage.[1]
    • You should continue to budget a small amount of money for non-essentials. The goal is to reduce your expenses, not necessarily eliminate them altogether.
  3. Save on essentials. To help stay within your budget, cut coupons, pack your lunch instead of eating out, and call your phone company to see if they offer a hardship discount.
    • Coupons can be found in weekly mailers or online.[2]
    • Don’t be afraid to ask for discounts. Remember, your situation is neither unique nor shameful. Most companies, like credit card companies or phone companies, will be happy to work with you if you ask. You can improve your chances of getting a discount on your payment by pointing to your positive payment history with the company.
  4. Ask about loan deferment programs. If you have credit card bills or student loans, call the loan companies and ask if you can reduce your monthly payments, or delay them entirely until you find employment. Many credit card companies will give you thirty-to-ninety days of deferral where they will not charge you interest. Student loan servicers are often even more accommodating and will allow you to defer any payment during the course of your unemployment.[1]
    • To find out if a company offers loan deferment, call the customer service number on your bill (or on the back of your credit card) and explain your situation to the representative.
  5. Get a roommate. If you have an extra room in your house, consider taking in a roommate. This will reduce one of your largest expenses—rent. You can find roommates by advertising on websites like Craigslist or by placing ads in your local paper.[1]
    • Meet with and interview potential roommates before you offer them the room. Ask about their sources of income as well as their philosophy on cleaning and paying bills on time.
    • If you own your home, renting out an extra room in your house can decrease your mortgage payment.
  6. Apply for unemployment. If you were laid off from you job for no fault of your own, you may qualify for unemployment. Unemployment will generally provide you with half of your previous salary for a set amount of time.[1]
    • If you were fired for cause or quit your job voluntarily, you may not qualify for unemployment.

Managing the Emotional Impacts

  1. Stay in touch with friends and family. It’s important to maintain a support structure during this difficult time. Although you may feel embarrassed to tell your friends and family about your unemployment, they will likely provide you encouragement and support while you search for a new job. They may also be able to help you find a new job. Make a point of getting lunch or dinner with a friend at least once a week.[3]
    • If your friends and family usually get together for activities that cost money, suggest cheaper alternatives, such as sandwiches over steak or coffee over lattes. Also take the initiative to suggest free activities like going for a hike or visiting a free museum.
  2. Wake up early. Without a set routine, you may be tempted to sleep in and you may also be tempted to go to bed later and later, which may interfere with your ability to return to a normal sleep schedule. Resist this temptation. Waking up early—around the same time you woke up during your previous employment—will help you to stay in a healthy routine and avoid the possibility of depression.[4]
    • If you have trouble waking up early without a set task to accomplish, make one for yourself. Plan your workouts in the morning, or decide that you will spend two hours job-hunting from 9 a.m. to 11. a.m. every week day.
    • Make sure that you leave the house at least once per day as well. This may help to keep depression at bay.
  3. Exercise daily. Exercise is one of the best stress relievers. Get at least thirty minutes of exercise every day. If you can engage in social exercise activities like group sports or a bike team, even better. You’ll get the benefits of exercise and the benefits of social interaction in one activity.[5]
    • If you’re unable to afford a gym membership because of your unemployment, you have options. Many YMCAs will offer reduced rates to people who are unemployed.
    • Other options include jogging or biking outside, or playing Frisbee, soccer, or other sports at a local park.
  4. Practice stress reduction techniques. Meditation, yoga, or prayer are effective ways to combat stress. If you have stress reduction techniques that have worked for you in the past, use those. Otherwise, don’t be afraid to seek out new ways of coping with stress.
    • If you’ve never meditated before, there are many resources available online that can help you get started. Additionally, you may be able to find a meditation center in your town that offers free classes.
    • As a simple relaxation exercise, sit in a quiet room and close your eyes. You can sit in a chair or sit cross-legged on the floor—whichever is more comfortable. Breathe normally. Focus your attention on your breath moving in and out of your lungs. Maintain this position for five-to-ten minutes.
  5. Ask for help. If you feel overwhelmed by your situation, reach out to friends or family for help. If you’d rather talk to someone who doesn’t know you, you can find a therapist in your area. If you don’t have insurance, then try a community mental health center in your area.
    • Don’t wait until you’re desperate to seek help. Instead, reach out for help when you first start to feel depressed or anxious about your situation.
    • If you can’t afford a therapist, there may be free options in your town. You can find free therapy options by contacting social services. Another option is to visit a local community hospital, if you have one, and ask about their therapy options for people with low incomes.
    • Your spouse or children may also feel stressed out by your situation. Make sure to tell them that you’re there for them and offer them the same resources you would seek for yourself. Avoid taking your emotions about this out on your spouse. Have another family member or friend that you also talk to about your situation to spread the emotional weight around and avoid putting it all on your spouse.
  6. Reduce alcohol and other drugs. While alcohol, cigarettes, and other drugs can provide temporary relief from stress, they tend to increase stress in the long-term. Alcohol is also a depressant, so you should avoid drinking too much during a time that you are feeling low already.[4]
    • You don’t need to cut alcohol or cigarettes out of your life entirely. In fact, you should avoid doing this during your unemployment as stopping these drugs is a stressful event. Instead, simply try to reduce your intake slightly and don’t let yourself drink more than you normally would.

Searching for Another Job

  1. Make a plan. You should treat finding a new job like a job in itself. Budget several hours each day, at a set time, to search for jobs. For example, you might decide that you will spend one hour each day at 1 p.m. making a list of five jobs that you’re interested in. Then, from 2 p.m. to 5 p.m. you will fill out applications for those five jobs.[6]
  2. Update your resume. Take some time to improve your resume and tailor it to the jobs you’re interested in. If you’re planning to change your line of work, edit your previous employment to emphasize skills that will be relevant to the new line of work.[7]
    • For example, if you were a computer programmer in your previous job and you’re hoping to get into investment banking, emphasize the analytical skills required in your previous jobs.
  3. Be flexible. Depending on your financial situation, you may need to accept jobs that aren’t your dream job. At the beginning of your job search, it’s OK to apply only for jobs that you really want. If a few months go by and you’re still unemployed, you should consider taking a job that isn’t exactly what you’re looking for.[7]
    • For example, if you’re searching for a job in programming but you’re getting no offers, consider applying for jobs in IT instead.
    • Remember that a non-ideal job doesn’t have to be permanent and it may end up leading to other opportunities.
  4. Make a good impression on employers. Employers will want to know why you’re experiencing a period of unemployment. Get in front of the issue by listing it on your resume and having an honest story to tell during interviews.
    • For example, on your resume you might write, “Laid off due to budget cut-backs. Seeking employment daily for the last two months.”
    • In an interview, explain to your potential employer what you’ve been doing with your free time. Emphasize any activities that might be selling points. For example, you might say, “I usually apply to five-to-ten jobs a week. In my spare time, I’ve been learning how to program in HTML.”
  5. Learn Return to Learning As an Adult. If you want to develop new skills, unemployment is a good time to consider going back to school. Think about what kind of jobs you want and choose a program that will give you the skills you need to get hired.[7]
    • Avoid going back to school just to fill time. If you go back to school without a goal in mind, you may just end up accumulating more debt. You can also look for certificate programs or specialized training conferences that are shorter-term and will help hone your skills and make you an attractive candidate.
    • Schooling is an additional expense, but there are many resources available to help fund your education. If you have a low income you may qualify for federal grants that you don’t have to repay. If you don’t qualify, you may be able to get low-interest loans through the federal government. Fill out the Apply for Federal Student Aid application to find out what aid you qualify for.

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Sources and Citations

  1. ↑ 1.0 1.1 1.2 1.3 1.4 http://www.forbes.com/forbes/welcome/?toURL=http://www.forbes.com/sites/learnvest/2013/03/26/our-unemployment-budget-how-we-cut-our-monthly-spending-by-1000/&refURL=https://www.google.com/&referrer=https://www.google.com/
  2. ↑ https://www.retailmenot.com/
  3. ↑ https://www.psychologytoday.com/blog/anxiety-files/200902/facing-unemployment-ten-steps-handling-your-unemployment-anxiety
  4. ↑ 4.0 4.1 https://www.kent.ac.uk/careers/sk/copingWithRejection.htm
  5. ↑ https://www.psychologytoday.com/blog/anxiety-files/200902/facing-unemployment-ten-steps-handling-your-unemployment-anxiety/
  6. ↑ http://www.helpguide.org/articles/stress/job-loss-and-unemployment-stress.htmr
  7. ↑ 7.0 7.1 7.2 http://www.helpguide.org/articles/stress/job-loss-and-unemployment-stress.htm
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