How to Survive and Thrive on Unemployment – Part 1

The very first time I was unemployed, scaling back on my expenses was a huge change in my lifestyle. In fact, I probably went a little overboard with the amount of things I cut out of my life. It was almost like I went on an extreme diet, cutting out comforts that would have gone a long way to nurture my soul. I can almost say I was punishing myself by not allowing myself to indulge in a few “luxuries”—and when I say luxuries, I mean a luxury for an unemployed person, like a nice dinner out with friends, or taking a cab home instead of waiting around for the next bus or train.

The second time unemployment popped in for a visit, I was better prepared to make the conservative shifts in my spending and finding a balance between being a thrifty consumer and well, being a consumer period.

Today, I’ll point out a few areas where you can slash your spending and make room for more special luxuries in times when you’ll need them most. And trust me, when you’re on the unemployment list, those times definitely make their appearances.

Quit the Gym
Okay, I’ll admit, I’m not a gym-goer, so it’s easy for me to say to drop your membership. If you are a total gym rat then I don’t want to take it away from you. But, just keep in mind that your local community college offers weight-lifting classes, cardio, boot-camp, yoga, and a ton of other exercise courses for $25 a SEMESTER. That’s like 4 months of consistent exercise folks! And, I know that your monthly gym membership is probably not this cheap. Talk to your customer service reps about holding or freezing your membership while you explore some other options. In a recession, the fitness industry is expecting cutbacks in gym memberships, so you’d be surprised at how accommodating they might be to your financial situation.

Downgrade Your Haircut
It sounds so silly and even slightly embarrassing, but seriously, if you shampoo your hair yourself and just have your hairdresser wet and cut your hair, you could easily save almost 50% on your haircut. Considering women typically spend about $60-75 on a haircut, style, blow-dry, etc, this is quite a saving! Also, use review sites like Yelp.com and CitySearch.com to find services at generic, lower-priced hair salons (i.e., Super Cuts, Fantastic Sam’s, TGF) that have high client ratings—you’d be surprised how much talent is hidden in these high-volume, affordable venues.

We’ll continue our savings ideas in Part 2