If you are unemployed for months, how do you survive?

Question

I'm just wondering, since I read that a lot of people were unemployed for months before they find a job.

Answer 1

They mooch off of other tax payers like us who would never "not work" for months. There are jobs everywhere. If there is no job available in your field at the time, go to Walmart and sell DVDs or pump gas. No one who has a IQ above 80 and can walk should ever be without work. If people don't work because theyare "holding out for the right position" they are taking advantage of the system with welfare, unemployment, whatever.

Edit-wow that was harsh. I guess sometimes people are sick and can't work, so I guess I should give those guys a break.

Answer 2

I have been unemployed since May 2005. When I first left, I was on maternity leave, which covered the first 6 weeks. Then I had a severance package that gave me a bit of a savings to live on to supplement my unemployment. By October, I had still not found a job and I was running low on savings and my credit cards had gotten maxed out. I had to quit paying on them.

Being the primary breadwinner for the house, I had a certain minimum salary that I had to have for the job to be worth it. After months of searching, I still couldn't find an acceptable job. So I began selling some of my stuff to have extra cash. As the months continued to drag on, I began to understand why it is so hard to get back into the workforce after leaving.

My husband and I finally made the decision that he would get a night job to help out and we moved into an apartment in town where it was cheaper to live with the anticipation that we'd rent our house out and our bills would be lower. It never rented. Still, it had been so expensive to live in addition to the mortgage (the electric bill was around $500/month in the winter alone) that living in town was a good choice.

Unemployment ran out and I had to cash in my 401(k). That lasted for a few months until I came to the realization that I was going to have to do something very drastic or else we were not going to have anything left. I ran out of money for the mortgage in January this year and had to stop paying that too. At that point, we put it up for sale.

When it finally sold in May, we barely avoided having it taken away through foreclosure and had a chunk of cash to live on. Between the time that I'd cashed out my 401(k) and closing on the house, I had spent a lot of time studying the stock market through a website that sounded very good. I'd practiced what I'd learned and found out that it is easy to invest and make solid returns.

So, when I got the money from the house, I decided to scrap the job search after two years. My husband works nights and gets our health insurance and then goes to school during the day. I've transitioned into the stay-at-home mom and spend my mornings also trading options. I'm the primary breadwinner again but after so long being away from the workforce, I'm really missing it and thinking about getting a part-time job to start.

I did try the temp agencies and lowering my salary requirements but it didn't help me that I ended up getting pregnant again after a year and a half. That is another reason I gave up the job search and sold the house.

Looking back, I regret not doing the research on the stock market sooner. With what I know now, I would have used my severance with my 401(k) to start investing.

Anyway, that is how I survived my two years of being unemployed.

Answer 3

Temporary Agency
Savings
Credit Cards
Food Stamps
Welfare

Answer 4

Most people have a little savings, and some credit cards. And when you are not working, it's actually easier not to spend money.

When it gets down to the wire, though, people have to live on welfare and the kindness and generosity of friends and family.

Answer 5

Friend of mine was searching for 11 months after being laid off. He lived on savings and credit.

Answer 6

Well, you have to pay off your debts, and keep a cash emergency fund of 3 to 6 month's worth of expenses. Then, of one income-earner loses a job, it is not devastating.

Answer 7

BECOME A PIMP, YOU'LL LOVE IT.