subject: Five Ways To Get Money Fast When You Are Unemployed [print this page] Five Ways To Get Money Fast When You Are Unemployed
There are not many things that make you feel worse than to be told that you are being laid off or let go, or that you aren't working out, is there? The bottom line is, when you walk out the door of your former employer, you are jobless, and you, at that moment, feel hopeless and maybe a little worthless too. Oh, they try to break it to you gently by saying things like "we have to cut back on expenses", or the real kicker is when they say things like "it is nothing personal". For God's sake, how could it be more personal?
But, there are some things that you can do immediately to ensure that you do have money to meet the daily expenses of your household. Once you get over the shock of being freshly unemployed and start developing a plan, you will already begin to see the light at the end of the tunnel. Here are five things that you can do immediately to both bring needed funds into the home. Doing these things will immediately bring your mind under control, and you will most likely see that things are not as bad as they seem.
To that end, the first thing you should do is access your current financial situation. Get out some paper and your calculator and write down all your expenses. Write down everything. Once you have everything down on paper, you can see where you can immediately cut back. It makes common sense to shrink the spending on unnecessary expenses. You will be pleasantly surprised by this little exercise, as you will see several areas where you will be able to spend less. Now that you know where you are in terms of your basic needs, you are prepared to seek some immediate funds to carry you over until you land a job.
5 Ways To Get Money When You Are Unemployed
1. Unemployment Benefits - If you qualify for these benefits, get yourself down to your state's Unemployment Office and sign up for these benefits. It will take a couple of weeks to get your first check, so the sooner you get down there, the sooner you will have the checks coming to your mail box. Be prepared to sit for a while when you get there. Applying for unemployment benefits for the first time is a shocker. You will soon learn that people from all walks of life are in the same boat you're in.
2. Ask Friends and Family For A Loan - You will already know from your little exercise what you basic needs are. Friends and family are typically willing to help if they are in a position to, but they do have one thing in common with lenders, they want to know how you plan to pay back the money. Be prepared to tell them how you intend to pay the loan back and when. This means look at you assets. In case you do not get another job in a few weeks, how will you pay back the money? Do you have a life insurance you can borrow against, do you have a boat you can do without?
3. Sell Off Assets - Most of us buy a lot of toys, do you have a boat you're not using, or a motorcycle that you don't ride that much, how about a lot that has been sitting there for years, and maybe if you have life insurance that you can borrow against, this might be the time to cash it in?
4. Fast Loans For The Unemployed - There are so many people unemployed these days, that there is an entire industry geared toward making loans to people that find themselves jobless. These loans are advertised as personal, fast, and unsecured loans for the unemployed Many newly unemployed choose to go this route as it is fast, discreet and gives you a way to continue your life in a normal fashion.
Unemployed loans are all over the Internet, and this is a fast way to score one quickly. When getting one of these loans, be sure to shop around to get the best interest rate and the most flexible terms.
5. Secured Loans For The Unemployed - These are loans like 2nd mortgage loans, and other loans where you put up collateral. Collateral is your pledge that if you default on the loan, your pledge will be used to pay back the lender. These loans tend to take longer that a fast loan, but they are typically for more money. One of these loans could be for enough to tide you over for a year or more.
The main thing to remember when you're unemployed is to keep your head up. There is no shame in it at all. If you don't act like there is shame, then other people won't either.
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