Expenses While Job Hunting: What Can Stay and What Should Go
The economy is slowly recovering in some areas, and many people who were on temporary leave or laid off due to Covid-19 are returning to work.
However, there are those who are now on the hunt for a new job, whether they were members of a recent graduating class, didn’t recover their job after layoffs, or are just looking to change careers. If you’re currently searching for a job and have little to no income, it’s important that you adjust your budget accordingly. Here are the budget categories that you should take a look at.
What to reduce:
Review your food-related spending habits. Did you spend more on take-out last month than you did on groceries? Or were you always tossing leftovers because you never got around to reheating them? Try putting some structure around food purchases and limit yourself to one meal out, for example, per month.
When you’re tightening your budget, you have to learn to say no, even to your friends. Drinks, Ubers, and event tickets add up fast. Check out your local trail and go for a walk instead. It’s healthier for you and your wallet.
Things in your home
Now is the perfect time for a cleanout — you’ve probably got the free time, anyway. Don’t get rid of the things you don’t need any more; use a Facebook resell group to earn cash for the decorative bowl your aunt gave you two years ago, or sell your used clothes on Poshmark.
What to maintain:
Phone and Internet
These are paramount for the interviewing process. You don’t want to have a bad connection during a phone or video screening.
For interview purposes only! You really only need to invest in one or two sharp interview outfits. You can buy more work clothes with your first paycheck.
Try including a day (or more) a week where you don’t spend any money! No lunch out, no Amazon orders, nothing. You can also try doing a no-spend month, where the only expenditures are necessities, like food and bills. See if you can make it a bit of a game!
The bottom line is, there are lots of ways to save money by just spending less — and it doesn’t all have to be hard!