An Unemployed Person's Guide to Fiscal Security


Even when you're out of a job, bills keep rolling in. The thought of running out of money is a frightening proposition. If you can't find work, you're not alone. According to the Bureau of Labor Statistics, there are at least 12 million unemployed American citizens. If you're jobless, you aren't alone. Plus, as Craig K Perry and Associates explain, there's much you can do to better your situation.


Earning


While searching for your dream job, take advantage of side opportunities. Some might seem unusual, but the right ones could allow you to put food on the table during lean times. One possibility is giving your opinions online. Survey sites pay people for offering their two cents. Beware that payment sometimes comes in the form of gift cards. Although your efforts will only net a minimal amount, every penny counts.


Selling what you no longer want is another potential source of income. There are tons of websites where you can hawk used items. How much you rake in depends on what you're trading. Keep in mind an older phone or tablet won't net as much as a newer model. Speaking of which, Consumer Reports suggests securely wiping yours first to avoid strangers having access to your personal information.


Maybe you have an old car languishing in the yard or garage. Get rid of it in exchange for a few bucks, even if it cannot be driven. Someone may want it for parts or as a rebuild project.


These small measures can help you get by during your quest for full-time employment. On the other hand, creating a business is a big step. If you have an appetite for entrepreneurship, identify your true passion, and figure out how to monetize it. Carefully consider what form your operation should take (i.e., LLC, partnership, corporation). In all likelihood, you'll want to incorporate your enterprise as a limited liability company.


There are advantages to running an LLC, including less paperwork, liability protection, and certain tax benefits. Avoid getting billed by an attorney by filing on your own. Another option is hiring a formation service, which may cost less than a lawyer. Every state has unique sets of rules when it comes to forming LLCs. Check the laws in your state before moving ahead.


Saving


Now that you're earning a few dollars, it's time to focus on holding onto them. Remember that small actions can add up. For instance, review credit card statements and look for recurring charges. Streaming services have become all the rage. However, their rates continue to climb so cancel those you no longer watch. Also, consider switching from a pay-to-play massively multiplayer online video game to one with no subscription fee.


Are you a fan of eating out? Many are, although restaurant dining is usually not the healthiest. It is also pricey. The Huffington Post points out that by cooking at home, you'll lose pounds while lowering expenses.


Use any discount advantages in your favor, such as AAA. If you're a veteran, jump on any savings available to those who've served.


Planning


Once you've taken care of today, start thinking about the future. Explore the galaxy of budgeting apps that are at your fingertips. As great as these programs are, there's no substitute for having a financial coach keeping you accountable.


Losing a job is a scenario nobody desires. That said, unemployment isn't a death sentence. There are tons of techniques for building back monetarily. Use as many as necessary until you reach even financial ground.


Craig K Perry and Associates has over 28 years handling all types of auto accident & injury cases. Call 702.228.4777.


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