rewrite this title How to Survive a Period of Unemployment – NerdWallet

A financially-stressed Reddit user recently asked for advice: As the primary earner in their family, which includes two children, how could they keep up with a mortgage and other expenses once severance ran out?

Reddit users offered many helpful ideas. Filing for unemployment, looking for other forms of state assistance and finding a new job — even if it’s not perfect — were among the most popular suggestions.

When we asked financial experts how someone can best survive a period of unemployment, they echoed many of those same tips. They also emphasized the importance of budgeting, even before a job loss occurs.

Here are their strategies:

“Focus on your essentials, and cut that budget to as bare bones as possible,” says Danielle Byrd Thompson, a financial advisor with TPS Financial in Washington, D.C.

Thompson says using an online budgeting tool or budget app, which can help you stay on top of necessary expenses and uncover where you can freeze spending for the time being.

“What can be pared back without completely blowing up your lifestyle?” asks Lori Gross, a financial advisor at Outlook Financial Center in Troy, Ohio.

If you have multiple premium streaming subscriptions, for example, she suggests cutting them all except one basic subscription.

Local communities typically offer resources to people in need, Gross says, including food banks, crisis relief services and low-income assistance programs.

She encourages people struggling to pay for essentials to look up these kinds of local resources. The website 211.org can be a valuable resource to find nearby support.

In some cases, Thompson says, mortgage, phone and utility companies offer hardship programs that allow customers to temporarily pause payments when they are experiencing a short-term financial challenge, such as unemployment.

“Typically every provider has a plan,” Thompson says. She suggests calling, explaining your situation and asking about options.

While loan providers may also offer hardship programs, Thompson suggests first waiting a month to see if you really need to use it. After all, the debt continues to grow even if payments are temporarily paused.

“If you can afford to stick to the plan, then you should continue to pay, but if you can’t, pull back immediately,” she suggests.

Essentials like food and housing have to take priority if you are forced to make that difficult choice.

“No one is too good to bus tables, be a hostess or do food delivery,” Thompson says.

She suggests taking on these kinds of part-time roles to make money and fill the gaps before your next full-time position.

“It puts cash in your pocket so you’re not totally depleting your savings,” she adds.

If you do earn extra income, Gross says, be sure to keep careful records of both your earnings and expenses. When you file your taxes, it will be easier to make sure you’re paying the correct amount.

At the same time, indicate on LinkedIn and other job-search websites that you are available for work, Gross suggests. That way, recruiters can find you and reach out if they have an opening.

“Be open to your options, even if they’re outside your normal parameters,” she suggests.

For example, perhaps you’ll find a job opening in an industry you worked in many years ago, even if it doesn’t match up with your most recent job experience.

Once you find a new job, Thompson says it’s time to begin rebuilding emergency savings. In fact, the period of unemployment might inspire you to shore up savings for next time.

Ideally, she says, everyone should aim to set aside three to six months’ worth of living expenses in a high-yield savings account. If that figure is too daunting, then saving a smaller amount can also help.

“Savings are the first line of defense when it comes to unexpected unemployment,” Thompson says. “Even if you start saving only $20 a month, make it a habit, then build from there.”

Reddit is an online forum where users share their thoughts in “threads” on various topics. The popular site includes plenty of discussion on financial subjects like budgeting and financial hardship, so we sifted through Reddit forums to get a pulse check on how users feel about surviving periods of unemployment. People post anonymously, so we cannot confirm their individual experiences or circumstances.