Budgeting between Jobs
by Sarah Hartse

Everyone has heard this most common of cliches about job-hunting: "Looking for a job is a full-time job." Of course, sometimes it seems like the people who offer this pearl of wisdom in a well-meaning tone of voice have forgotten how true the aphorism actually is. Whether or not you've got sympathetic (employed) friends who "understand" that it's hard to survive while you're looking for work, the fact remains that you've got to find a way to make ends meet in the meantime.

There are some things you can do. Living on a budget while you're between jobs isn't something that can be done by the book, because your plan of action will change depending on your circumstances. It would be ideal if step one were "make sure you have two months' worth of living expenses saved up before you lose or quit your job," but life doesn't always work that way.

Also, keep in mind that there is more to budgeting than money; you have to budget your time just as wisely so your job search doesn't take over your life or ruin your chances of bringing home the bacon.

Here are a few tips you may find helpful regarding the prudent use of your time, money, talent, and thrift.

1. Set regular hours for job-hunting. Heed the advice of the cliche and give yourself a schedule. Decide to spend a certain number of hours each week (30 might be a good place to start) on your job search, and promise yourself that you'll only work during those hours so you still have time to enjoy life.
    
2. Use the talents you already have to make an income. It takes some creative thinking to turn hobbies into paying gigs, but you'll be surprised what you can do. Do you like music or books? Try offering your services to newspapers as a critic. A great cook? Make dinner for some paying guests, or go the Girl Scout route and bake cookies to sell. The entrepreneurial possibilities are endless.
    
3. Get rid of stuff. Craigslist and Ebay are great online tools for you to make a buck by selling a few items while you clean house. Maybe this is a good time to take stock of your possessions and do a little spring cleaning.
    
4. Actually examine - and change, if possible - your spending habits. This might be a sobering reality check. Get together all your receipts (or check your bank statements online) from the last month you were working, and break down your spending into categories. Find out how much you spend on things you need (rent, electricity, food, phone) and things you want (clothes, entertainment, restaurant dining). You might be shocked, but this will give you a good place to start budgeting.
    
5. Don't set unrealistic financial goals. If you're honest with yourself, you won't assume that you'll be able to become a complete ascetic, selling everything you own and only eating ramen until you find another job. Try to find a happy medium; examples might be going out to eat once a week instead of three times, getting the newspaper only on weekends, or halving your entertainment budget.
    
6. Network, network, network. One good thing about unemployment is that you may find you have time to get together with people in your field. Call people you've always wanted to meet, have lunch or a casual meeting, and get your name out there.
    
7. Ride a bike or take public transportation. This is a no-brainer, given the current price of gasoline. Even cutting your gas intake by one tank a month could be a significant savings.
    
8. Volunteer with a community organization. Volunteer jobs are a great way to get involved in the community, meet people, network, and maybe even parlay your volunteer work into a job.
    
9. Move from spending money by using checks and cards to using cash. Have an envelope with a predetermined weekly allotment of cash and spend only that amount. This is a great way to train yourself to budget your money closely.
    
10. Ask friends and family to help you out. Although this isn't something that springs to mind for most of us, most friends and family are more than happy to help out when you're in a pinch. If you've got it, be thankful that there is a loving community who cares about your well-being during hard times. (Just don't turn begging into a habit, or you'll end up without sympathy before you know it.)