No matter what your situation is, many people have blown through the 6 months of pay given as severance or their emergency funds pretty quickly. If you are like the many people who are not willing to give up the search for that perfect job, but still do not have enough money to cover the upcoming bills, you need to find a better solution to your financial problems. Here is a list of ideas to use when you are short on cash, but you also do not want to jeopardize your future.
Find a fast and easy loan
Taking out a small, easily repayable loan is usually a safe way to stay afloat without creating too much debt for you in the long run. Avoiding high interest rates using credit cards or other cash advance services will create more bills for you in the future and can damage your credit permanently.
Look for sites, like LoanSource.com, that will work with whatever credit you have and give you the money you need now so you can keep looking for the job that will pay everything off. Be careful about using these types of loans too often. Having a lot of small loans out can set you up for future financial failure, because it will be more difficult to keep track of them and make sure you are making all of your payments on time. Keep a regular payment schedule and stick with the smallest amount of loans as possible.
Consider a part-time job in your niche
Finding part-time work to finance your job search sounds like a terrible task to take on, but you can make it beneficial for you in more ways than one. Find a consulting job in your chosen field, offer to speak at local schools and colleges, consider freelance writing about your expertise.
This will give you more job experience and self-satisfaction, while earning you a little more money to buy you time to keep searching. Maybe you will find a career path that appeases you more than the one you were previously looking for. The idea is to keep your options open and be careful to not rule anything that might benefit you in the workforce and in your future career.
Empty CDs, savings accounts and bonds first
There will come a time when there is no other choice and you have to dip into your savings to make ends meet. Unfortunate, yes, but there are some ways to ease the pain and help keep the progress you have made with your investments.
Empty things like savings accounts, CDs and bonds first. These usually have the lowest interest rates and little or no penalty fees for cashing out. Resort to pulling from stocks and mutual funds next and retirement funds last. This system will help you protect your future and earn interest during the times that you need it most.
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