Ways to Save Money when You’re Unemployed

Losing a job is a hard thing to go through. It makes people take stock of all sorts of things, but especially of how they are spending their money. It may even become necessary to cut back in order to save money for absolutely essential things. Figuring out how or where to save money can be a challenge, especially when you aren’t as able to be objective when you are feeling the emotional effects of this loss. 

Here is a look at some ways by which you can save money you’re unemployed.

*Refrain from eating out –

When you go out to eat, especially if you’re used to running into some place to grab lunch, stopping at the take out place to pick up dinner, or even running though the drive through at a fast food chain, you are probably spending far more money than you realize. If you need a way by which to prove to yourself that these little outings are costing you a lot of money, stop doing it altogether and see how much you save because you aren’t eating out.

*Shopping –

If you think of shopping as a form of entertainment, do the same experiment as was recommended for eating out. See how much money you save by not shopping. If you are fond of video games or purchasing videos, limit yourself to one a month.

If you like to buy electronic gadgets, see how much money you save when you stop doing that. If you’re the sort of person who has to have a state of the art desktop computer, a laptop and a Netbook, see how much money you could save if you restricted yourself to the one piece of equipment you use the most.

*Going out at night –

If you’re single, you may like to go out clubbing, or just hang out with your friends at local bars. That is another way by which you probably spend a lot of money without even thinking about what you are spending it on. Limit your nights on the town to one or two a month and see how much money you save that way.

*Cell phone service –

If you are unemployed, a cell phone may be a necessity because it provides would-be employers with a guaranteed way to reach you. You don’t, however, need a cell phone package with unlimited texting and all of the other high tech services such as chat and e-mail that people get. You could probably reduce your cell phone bill by half, if not more, simply by doing away with these extras.

*Cable television –

If you have a cable television or satellite package that gives you all of the premium movie and digital channels, you may want to reconsider that subscription. As much as you may want to have all of those extras, this is not the time to be splurging on indulgences. Remove all of the most expensive extras from your service and you’ll probably reduce your bill by half.

*Daily coffee beverages –

If you are in the habit of stopping at Starbucks or similar establishments to get lattes with extra flavorings, consider how much you spend on those. Even at $5 a day, you could save $25 every week, and by not doing that at all, you could save yourself $100 a month.

These are practical ways by which to save money. You have to look at everything you spend money on and weigh it’s importance to you personally and how necessary it is to you and your family. By willingly refraining from doing things you formerly did without even thinking about it, you may find that you are saving yourself many hundreds of dollars a month. This money will come in very handy when you’re not bringing in anything other than unemployment and you still have bills to pay.