Recently everyone has had to tighten there wallets a little and here's a couple of ways to make that dollar stretch if you on the verge of being laid-off or already are. Small home business recommends these tips:
*Pay down all debts when you suspect a lay-off. This will reduce your monthly bill payments. Get the family involved. Tell them about the job situation and focus on planning a family budget together.
*Start saving extra money to pay basic living expenses for the family. Bills to focus on include: the mortgage, rent, insurance, utilities, food, car payments for a minimum of 3 to 6 months. Save more money if possible. Deposit this money into an interest bearing savings account.
*Reduce Daily Expenditures. Only buy the necessities. Cut back on frivolous items like manicures, pedicures, haircuts every week. And too many clothing purchases, trips, vacations, concerts, movies,
Avoid impulse buys at the supermarket. These purchases will add up and break the budget.
*Once a major job slash is on the horizon start looking for part time work. One good idea is to make sure the part time gig will not interfere with the full time job. When the lay-off happens the part time job will cover many basic living expenses.
And it's always good to know health benefits and how much any insurance policy will cover in the event of a layoff. Know how much it will cost to continue the coverage. Investigate federal assistance programs that provide medical coverage plus any other options currently available. Determine eligibility, exactly how to apply for unemployment, amount of benefits, and the length benefits will be provided.
*Pay down all debts when you suspect a lay-off. This will reduce your monthly bill payments. Get the family involved. Tell them about the job situation and focus on planning a family budget together.
*Start saving extra money to pay basic living expenses for the family. Bills to focus on include: the mortgage, rent, insurance, utilities, food, car payments for a minimum of 3 to 6 months. Save more money if possible. Deposit this money into an interest bearing savings account.
*Reduce Daily Expenditures. Only buy the necessities. Cut back on frivolous items like manicures, pedicures, haircuts every week. And too many clothing purchases, trips, vacations, concerts, movies,
Avoid impulse buys at the supermarket. These purchases will add up and break the budget.
*Once a major job slash is on the horizon start looking for part time work. One good idea is to make sure the part time gig will not interfere with the full time job. When the lay-off happens the part time job will cover many basic living expenses.
And it's always good to know health benefits and how much any insurance policy will cover in the event of a layoff. Know how much it will cost to continue the coverage. Investigate federal assistance programs that provide medical coverage plus any other options currently available. Determine eligibility, exactly how to apply for unemployment, amount of benefits, and the length benefits will be provided.
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