6 Ways to Save Money During a Job Search

Currently, there are around 23 million people either out of work or underemployed, and the number of people out of work for more than six months has doubled in the past three years. Understandably, the pressure to get a job can make it easy to develop a find-work-at-all-costs mentality.

However, this approach isn’t necessary and can even be hazardous to your job search. To launch an effective job search and avoid going into unnecessary debt, consider these money-saving tips.

6. Apply for Unemployment

It may be obvious, but applying for unemployment is the very first thing you should do when you find yourself jobless.

The process can be time-consuming, but it’s an essential security measure in case you’re unable to immediately find new employment. Plus, you’ve earned it. Are you really in a position to turn down the extra cash?

5. Use Free Services First

If you’re considering hiring a head hunter or job coach, make sure it makes sense for your profession. For example, if you’re willing to relocate and work in a specialized field, hiring a head hunter who specializes in that field could be to your benefit. But in many cases, such services are overrated and overpriced.

If you’re unsure, circulate your resume on your own (for free) before you hire the services of a professional. Only spend the extra money if you have to.

4. Cut Expenses

Losing your job requires adjustment and tough choices.

In order to survive living on a slashed income, you need to slash your expenses. List out everything you spend money on monthly in order to find where you can cut back. Start with your regular bills and services, then pore over bank and credit card statements for nitty-gritty details like cups of coffee and fast food. If you spend cash primarily, save your receipts.

Things to cut back on may include your TV package, your cell phone plan, lunches and dinners out, and “fun” purchases like new clothes or electronics. Also incorporate ways to save into your routine: use coupons at the grocery store, reduce home energy use, and consolidate errands to save on gas.

Every little bit helps. Continue reading . . .

Article by David Bakke and courtesy of Salary.com