HOW TO SURVIVE “THE UNEMPLOYMENT CRISIS”

A sudden dramatic loss of jobs can create alot of panic and stress of keeping up with expenses. The COVID19 pandemic has indeed affected us in alot of ways of which one being the sudden increase of “unemployment”. Therefore, accumulating bills such as rent, electricity, food, car expenses etc. The following are a few suggestions that can help you survive or even overcome the unemployment crisis;

1)TRADE OR SWAP
This is an old fashion way of conducting business but it definitely makes sense during unemployment crisis. It basically involves swapping certain items that you don’t necessarily need with someone who has what you need. No money is involved in this process. Therefore, this becomes an economic way of trading.Some good trade/swap and freebies websites are gumtree and facebook groups in your community. Alternatively you can get in touch with your local council for more information about getting free giveaways.

2)BULK PURCHASE
Buying in bulk can definitely save alot of money. This may work for items that are essential and consumed everyday. For example; milk, butter, coffee and so on. Buying at wholesale or bulk price can save alot of money in the long term. Some of the websites offering bulk buy are; woolworths and ebay which sells a few grocery items in bulk.For instance I like having protein bars almost everyday. I spend AUD 2.80 per bar and spend about AUD 14 every week on protein bars. I managed to find the same protein bars online at chemistwarehouse sold for AUD 1.84.The online store also offered a free pick up service at the nearest chemistwarehouse store. I bought enough protein bars to last me a month and saved AUD 20. This method can be used to purchase other items and save money in the long term.

3)CUT DOWN RECURRING EXPENSES
Recurring expenses including rent, fuel, electricity etc. This are expenses that you incur continuously.These expenses could accumulate and turn into a huge debt after a period of time if not paid. Staying in a shared house could help cut down some of these expenses that includes the rent, electricity bill and probably sharing one car and sharing the fuel cost. Saving electric energy can help cut down the electricity bill. For example using energy at off peak hours. “Aurora energy” provides some information on how to save electrical energy. Renting an apartment is more affordable than a house. This may defer in different countries and cities but this may likely be applicable in suburb areas (out of the city). Lastly, look out for the best deals on fuel prices and save money. Self service fuel stations normally offer low fuel prices. Plan and compare fuel prices before filling your fuel tank. This method can save you alot of money in the long term. There are a few websites and apps that can help you find and compare fuel prices.Some of these online platforms are; The “good call” seven eleven app and compare the market website.

4)AVOID UNNECESSARY EXPENSES
Be concise with your online and local shopping.Avoid buying items and services that are not essential. It is sometimes tempting to have a luxury but at the end of the day the costs add up. Instead, you may consider: Free or low fee options such as free tv channels versus netflix subscription. Use training videos to do simple home handy work instead of paying for the service from a “handyman”. As for the ladies,do your nails and hair at home if you can. These are just a few live examples. These tips may be applicable in different ways depending your lifestyle and economic status.