Financial Aspects of a Job Search

If you are like many millions of Americans looking for work right now, the financial aspects of a job search impact your daily life.  Your bills keep coming even if the paycheck does not.  Here are several suggestions for making the best of the situation:

1.    Prepare a budget that honestly lists your monthly expenses and any residual income like unemployment benefits, severance pay, interest, dividends, etc.  This means that you must start keeping track of all your expenditures, even down to your Starbucks coffee.  For help here, consider budget management software such as Quicken - click here for more information.  For help in California with unemployment benefits, click here.

2.    Reduce your expenses in each and every category.  Start with the major expenses first.  For example, if possible, reduce your mortgage or rent payment through refinancing or renegotiation.  A mortgage broker or loan officer (such as Stephanie Gossett at Bank of America - click here for more information) can help you evaluate your options.  If you work hard it, you are likely to be able to cut your monthly outlays by at least 25%.

3.    Consider your actual job search expenses such as resume preparation fees, job search travel, etc.  Many of those expenses are tax deductible - learn more here.

4.    If you get into a real financial bind, consider government aid sources.  For example, San Francisco Bay Area residents can get help by just dialing 211 on their telephones - click here for more details.  For Federal government assistance, click here.

Prepare now so that you can Dominate Your Job Search_®.