Lose Job

Did you just get laid off from your job?  If so, you are likely to receive a severance package and unemployment benefits.  Unfortunately, they do not last forever and rarely come close to what you were making before.  For that reason, you may stress about your current financial situation.  You may want raise extra cash and quick.  Luckily, you have many options.

So, how can you raise extra money after being laid off from your job?

Host a yard sale.  We all have items inside our homes that we no longer want, need, or use.  Just glance around your living room and you could likely find at least 5 things to sell, like an extra chair, an unused picture frame, and old movies.  These items are doing nothing but collecting dust.  Why not try to sell them and raise a few extra dollars.  In the summer months, host a yard sale.  Advertise your yard sale online and in local newspapers.  Price your items fairly and watch them sell.  It all depends on your prices and what you have available to sell, but you could easily raise an extra $100 or $200 by holding a yard sale.

Sell on eBay.  As previously stated, a yard sale is a great way to raise extra money after being laid off from work.  Unfortunately, yard sales aren’t for everyone.  You may need money now, in the middle of winter, or you may live in an apartment complex that prohibits yard sales.  A good alternative is to sell on eBay.  If you aren’t already a website member, create a free account.  You are charged seller fees, but if you have quality items to sell, you should make money.  Take pictures of your items and follow their step-by-step guide for creating a listing.  Most eBay auctions last 7 days.  If your items sell, you will get your money fairly quickly.

Sell on Craigslist.  Have you heard of Craigslist.org?  If not, visit the website and look around.  It is a free online classified website.  Although it does not reach as many people as eBay, it is free and you deal with local buyers.  There is no worrying about shipping a product or paying the extra costs if you charged too little.  Find your closest local city and list what you have available for sale.  Set a fair selling price, including pictures, and write a detailed description.  Interested local buyers can contact you by phone, email, or the website.

Collect your spare change.  In the past, you may never given pennies, nickels, or even dimes another thought.  After all, they are more of a pain that anything else.  But now?  They can help you raise extra cash.  If you have a change jar, you are already off to a good start.  If not, start looking around your home and in your car.   You may be surprised where you find coins lying around.  Fill a jar and take it to the bank.  Avoid the coin counting machines at grocery stores, as they usually charge you a fee.  Your bank should take your coins for free.  From now on, save any additional change you have or find.

Collect bottles and cans around your house or the neighborhood if your state pays for returns.  As with spare change, you may have never given soda bottles and cans a thought before.  If you live in a state that charges you a bottle deposit at purchase time and if you drink soda, start saving them.  As for around your neighborhood, you don’t have to go all out with a garbage bag, just pickup any cans or bottles you may find lying around.  The .5 cents you get back for each return can easily add up.

Collect on money owed to you.  Did you lend a friend or relative $500 when you were in better financial standing?  Have they yet to repay you?  Politely ask for the money now.  It is important to be polite because the economy and job layoffs have not just impacted you, but all Americans.  Explain your financial situation and the fact that you could really use the money, but don’t outright demand it.  Be calm, polite, and even willing to expect small installments.

Finally, cut your expenses.  One of the easiest ways to raise extra cash is to reduce the money spent.  Do you really need the largest cable package with over 20 movie channels?  No, so opt for a cheaper package instead.  Limit your impulse purchases.  Only go to the grocery store once or twice a month, instead of each week.  Use coupons to reduce your grocery bill, and so forth.  You don’t have to go without, just try to reduce the money spent.

Right away, you may be thinking “why on earth am I reading an article on how to prepare for a layoff?”  Yes, this is a good question.  We are all encouraged to think positive about the job market, our careers, and the economy.  That much easier said than done.  Rarely does a day go by without the evening news mentioning a company closing down, laying off workers, or imposing a freeze on hiring.  Will you be next?  Honestly, you might be.  You know the economy and job market is bad when both schools and hospitals are laying off workers.  Aren’t teachers and healthcare workers essential?  Yes, they are.  That is what makes this whole ordeal scary.

As previously stated, companies, businesses, and all industries are impacted by the poor economy.  Workers once considered essential components of a company are now left standing in the unemployment line.  When it comes to preparing for a layoff, it is important to start out small.  There is no need to get worked up and panic for nothing.  With that said, it is always good to be prepared.  Whether you know your company is losing money or hear layoff rumors floating around, now is the time to act.

So, how can you prepare for a layoff that may or may not come?

Update your resume.  If you have worked at the same factory for ten or more years, you likely haven’t touched your resume in that same amount of time.  In fact, do you even have a resume?  If you hear rumors of layoffs, it will not hurt to be prepared.  Brush off your resume or create a new one.  You can hire a professional resume writer or use the internet to find free resume templates.  Use these templates as a guide.

Take a few college classes or career training classes.  When possibly facing layoffs, look at the big picture.  How much job experience and training do you have in your field and how many jobs are available in that field?  Right now, factory jobs are in trouble.  Americans working in manufacturing plants are more likely to experience layoffs and find it harder to land a new job.  Increase your chances by taking a couple of college classes at night or online or career training classes.  They can open up new doors and also give you an advantage over other job seekers.

Start saving money.  The biggest concern of Americans laid off and those who anticipate a layoff is with finances.  Unemployment benefits rarely come close to what a working American was brining home each week.  Since you will have less income coming in, you must spend less.  This is not an easy transition.  Get started now.  Look at your phone, internet, and television packages.  Opt for cheaper ones.  Eliminate unnecessary purchases, use coupons at the grocery store, and so forth.  If you get laid off from your job, you are prepared.  If you are lucky and continue working as normal, you have extra money in your pocket.

Work on supplementing your income.  With this step, you need to proceed with caution.  There are many ways to make money online, but there are also scams.  Although the internet is a tricky way to make money, it is usually one of your best options.  When making extra money from home, you are usually classified as a contract worker, not an employee.  If you walk into your local pizza joint and get a part-time job as a delivery person, you are an employee.  Should you get laid off from your full-time job, unemployment benefits may be denied, as you are still technically employed.  In addition to supplementing your income, work on raising extra money.  Look around your home.  Gather unused or unwanted items and host a yard sale or sell them on eBay.  Find spare coins to take to the bank.

Have a game plan in place.  Although there are no guarantees you will be laid off from your job, it is still important to consider the risk.  If you hear rumors or know your company is in financial trouble, it will not hurt to be prepared or have a plan.  What do you want to do?  Will it be cheaper to find a low paying job or collect unemployment and take your time looking?  Do you want to stay in your current industry or go back to school and try a new path?  Ask yourself these questions in advance to be prepared.

Were you recently laid off from your job?  If so, you have two choices.  They usually include collecting unemployment for your preset time or finding a new job right away.  Although many do not like to rush the process, you may want to jump right back in.  With drive and determination, you could land a job interview in as little as one week.  But, wait!  What if it has been years since your last job interview?  You are likely nervous.  To help calm your nerves, continue reading on for a few helpful tips.

Practice explaining your unemployed situation.  If you are jumping right in after being laid off from work, you could have an interview scheduled one week after losing your job.  This is good, as it shows drive and determination.  However, you may still be bitter.  In this economy, many know layoffs are a common occurrence.  The company you are interviewing with knows this.  Do not be afraid to say you were laid off, but don’t be bitter or negative about the company that let you go.  Companies need good and positive thinking employees.  Nothing shows your positive attitude more than handling a layoff with dignity and respect.

Research the company in question.  Right now, your goal is to find a job.  You may visit a company website, look solely at their careers or employment section, and then be on your way.  Once you have scheduled an interview, do the research.  Use the internet or ask around.  You don’t need to know the company’s entire history, but have a general idea of who and what you are dealing with.  For example, if applying for a manufacturing job, know what the company makes and some of their buyers.  Find a suitable way to work the information you learned into the conversation.  This shows drive, determination, and action.

Familiarize yourself with common interview questions.  If you were laid off from a job you had for 10 years, you may not remember what an interview was like.  Ask around or use the internet to research.  Some of the common questions asked include:  What are your strengths?  What are your weaknesses?  What are your goals in five months and then five years?  Why do you want to work for the company?  Why do you feel you will be a valuable asset?  It is easier to prepare for a job interview after a layoff when you know what to expect.

Practice answering the above mentioned questions.  At the very least, practice in front a mirror.  It is best to use a trusted friend or relative.  They can ask questions and give you feedback.  If you get feedback, consider their suggestions.  Yes, it is hard to hear you are sounding unprofessional, but the friend or relative in question has your best interest in mind.  They are trying to bring an unbiased opinion to the table and help you land a job.

Dress for success.  Even if applying for a job as a cashier or janitor, dress like you are on top of the word.  Never show up in shorts or jeans.  Fancy eveningwear is not required by any means, but look professional.  Pants should be black or tan.  Both men and women should opt for solid color polo or dress shirts.

Arrive early.  Most recommend arriving on time, but you want to do more.  Don’t take unnecessary risks with heavy traffic or bad weather.  Plan to arrive at least 15 minutes before your interview.  You will have to wait, but it is worth it.  The unemployment rate is high in the United States.  Now, it is common for hundreds of people to apply for one position.  Don’t let being late immediately eliminate you.

Have a positive attitude.  If you are used to working in an office and are now applying for the position of a retail cashier, you may be less than thrilled.  You may consider it a step-down, but need the money.  Yes, this can be depressing, but don’t let your disappointment show.  Be positive, speak clearly, and make eye contact.