saving-tips_2245371bMoney Saving Tips for Unemployed

 

 

 

Source: http://jobhuntingstress.wordpress.com/2011/04/06/how-to-save-money-while-unemployed-2/

Cut the cable cord. When our one-year special deal with Time Warner ended, we cut cable and are saving about $60-80 a month. We bought a digital antenna and watch about 30 channels over the air, and stream Netflix videos, music, news & weather channels, and other movie channels through our previously-purchased Roku box (which cost less than $100).

Cut the cell phone habit. What irritates me is seeing people at the unemployment office checking their email on their 4Gs, Droids, and Blackberries. This is one of the biggest expenses we cut after I lost my job. By ditching my smartphone, we saved another $70 a month by purchasing a cheap TracFone where you can buy prepaid minutes. When I want to check email I do it the old-fashioned way: I check my computer. Now that unemployment benefits ran out, I may just get rid of the cell phone entirely.

Cancel all subscriptions to newspapers, magazines and mail-order services. When I lost my job, I immediately canceled a 90-day supply of vitamins that cost more than $200. While I kept the weekend newspaper subscription, I read most of the news online now. If you can, cancel all recurring monthly subscriptions for music services as well. You don’t need the iPod.

Get rid of your trash hauler. Seriously. We saved more than $200 a year by canceling our contract for our curbside removal. Since we don’t generate a lot of household waste anyway (about a tall kitchen garbage bag’s worth), we dump the bag at our church dumpster or another nearby dumpster.

Stop shopping at the higher-end grocery stores. We get most of our groceries at Wal-Mart, Aldie’s, Sam’s (when we purchase items in bulk), or Bottom Dollar Foods, which all have fresh foods. Use coupons each time you shop for groceries along with your discount card. You can save about $200 a month by shopping at the discount grocery stores.

Grow your own food. Even better than the discount groceries: plant your own garden. Some of the best veggies we’ve ever eaten have come from our own backyard: squash, zucchini, tomatoes, lettuce, and broccoli are some of the veggies we’ve grown. Not only does a home garden cut down on your food bill, it’s better for you.=

Don’t fly. The only time I purchased an airline ticket this year was a flight to Texas to see my parents, and since I had a job interview there, the amount was tax deductible. (I never heard back from the company but I got to see my parents). Postpone large purchases until you’re out of debt and can afford them. We would love to buy a lawnmower for our yard, but have found a neighbor that gives us a discount to cut our yard twice a week.

Don’t buy expensive health insurance plans. This is a tough one. I’ve been without health insurance for myself since my COBRA benefits expired eight months ago, but haven’t needed to go the doctor in that time. Our son is covered by a supplemental school health insurance policy and my wife gets her health insurance for free through the VA. Another option for those who qualify: state high-risk pools or free health insurance programs for children are available for those families whose income is equal to or less than 200% of the federal income limits (still available until the Republicans cut them).

Save money. I was fortunate that I was able to save more than half of my severance pay in a CD. When it matured we paid off all our credit card debts. Getting out of debt is the most important thing you can do to get control of your finances and take charge of what you spend. Because our credit scores were excellent, we were able to refinance the mortgage for our house and save another $260 a month in mortgage payments, and at a lower interest rate.