- People who make their first unemployment claim may be surprised by the relatively small amount of benefits for which they qualify. Claims in Massachusetts, for instance, amounted to about 50 percent of a person's average weekly wage, according to the state's Department of Unemployment Assistance. Nationally, the average unemployment applicant qualified for $295 in weekly benefits in the third quarter of 2010, according to a MainStreet article on msn.com. The average nationwide weekly wage for the same time period was $865, the article reported.
- Unemployed workers should first concentrate on paying only for necessities. And the Federal Citizen Information Center (pueblo.gsa.gov) offers more than 60 ideas on how to save money under any circumstances. The FCIC recommends, for example, trying to enroll in utility budget programs, such as off-hour rate programs offered by some electric companies. Contact all of your utility providers to find out what cost-saving measures, like incremental payment plans, are available. Check your last phone bill to determine if you're paying for any services you can eliminate without incurring hefty cancellation fees.
- Shop with a grocery list and stick to it. Avoiding impulse purchases will keep you from driving up your grocery bill, the FCIC says. Take note of the price tags grocery stores post on their shelves: they often list the price per ounce that you would pay for each item. Shoppers can save hundreds of dollars each year by comparing price-per-ounce costs and stocking up on items with low per-unit costs (i.e., the bigger box of cereal is more expensive but a better deal), according to the FCIC. Generic or store brands are usually cheaper than name brands. You may not find much difference in the taste or quality, but you will in savings.
- Transportation costs are particularly important while you're looking for a new job. Keep your costs for gasoline down by using the lowest-octane gasoline cited in your vehicle's owner's manual. You also could save money by comparing prices at the pump before you get out on the road. Consider using websites such as MapQuest and AAA to find the cheapest gas prices in your area; also, many local newspaper websites feature gas price trackers. Raise your auto insurance deductible on collision and comprehensive coverage to at least $500, recommends the FCIC, to save possibly several hundred dollars each year on your premium and monthly payment.
- You don’t have to cut yourself off from all fun and leisure activities while unemployed. Look through local newspapers for free or low-cost events, says America Saves (americasaves.org), a campaign of the Consumer Federation of America. Museums, parks and sports arenas are just a few of the places that offer inexpensive, or free, events. Borrow books and magazines from libraries rather than buying them. Cable television is often the biggest entertainment expense people incur each month. The CFA recommends getting only a basic cable plan or canceling cable TV altogether to save as much as $500 per year.
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