Change feeding habits

Having a job requires that you sometimes engage in excessive feeding habits that cost you money. You often dine out more and eat at expensive restaurants. You also stock your house with groceries you actually need and those you also actually don’t need. Not having a job brings you back to earth and you realise you only spend money on things you absolutely need. Start stocking your house with the basic food items. Eat more of the food you prepare at home and avoid dining out as much as you can. Reduce consumption of expensive wine, alcohol or beverages.

Adjust transport needs

Losing a job means you probably spend more time going out as you seek another job or source of income. However, this can be quite expensive considering the fuel and maintenance cost for those who have a car and cost of public transport for those who don’t. Therefore, you must make sure every commute you make is essential and not frivolous. Go out if it is absolutely necessary that you do. Some people have this erroneous belief that going out actually helps you meet people without realising that the chances of getting a job at a bar is as slim as lightning striking twice on the same spot.

Get health insurance

Most Nigerian jobs come with some form of health insurance or another, therefore losing the job means losing health insurance at some point. It is therefore essential that you take some of that severance and buy health insurance for you and your immediate family. That way everyone gets covered when they fall sick by getting medical care. You should also try to stay healthy and avoid doing things that keep your health in jeopardy.

Quit expensive bad habits

We all have bad habits that are difficult to contain. However, when you find yourself in a critical situation it is important to just simply quit. Expensive habits such as but not limited to drinking, partying, fashion wears, etc have to be curtailed significantly if you are to remain above water. Most people get depressed after losing their jobs because they either feel pained they can’t afford the niceties they were used to or end up spending their savings living a false life.

Stick to a budget

One of the key ingredients of frugal living is keeping a decent workable budget. It becomes even more important to stick to a budget when you are out of employment. A well planned budget is a very good starting point and should reflect the current state of affairs. Remember, the income side of the budget will mostly be limited and not enough to fund the expenses leaving the budget with a deficit.

Don’t be afraid to accept money

Family and friends can offer financial or moral support at times like this and should be accepted with all appreciation. Some people view help and support as an insult and will reject it, however I do believe any help you can get is very vital to your ability to bounce back. Some can offer you indirect financial support which does not even direct cash.

Re-negotiate deals and rates

For those who lose their jobs and still have agreements such as loans, mortgages, rent etc. losing your job can put some of these arrangements at risk. Rather than default on mortgages and loans you can approach your lenders to renegotiate the terms ahead of the next installment payments. Write them officially and tell them of your present status and request for a restructuring of the debt to enable ease of payment. You can also inform your landlord of your current situation which inadvertently is telling them ahead of time not to increase the rent.

Register with a job site or service

This is perhaps the first thing you must do as the longer you stay out of work the longer it takes to get another. One way to remain in the loop is registering with a job website that can give you regular updates on job openings that suit your career prospects and profession. The more interviews you attend the higher your chances of getting a new job and surely the more money you save down the line.

source http://www.punchng.com/business/am-business/ways-to-save-money-after-losing-a-job/

ok

The best way to save money is doing all these even with a Job.

ok

go to prayer house.

Don't know what to comment. Maybe the lady below me has something better to say

Na last point sure pass..

The best way is to get Another job..

Yup

Op leave that tin. Pesin go still broke jare... Hustling is the only way

easier typed than done

k

Please has anyone tried this [url]Quizmillionaire.com[/url] guys, are they for real?

OK

there is something i noticed especially with bankers, thats why i would never take advice when it comes to money or investement ideas from any banker, Bankers help us manage our money/investment, but do you guys notice that once a banker losses his job its almost like the end of the world for him.

Like to do tell people dont make your job all your life, Dont make your employer your only source of income instead make your employee one of your clients. meaning u have multiple streams of income should incase you ever lose your job, it would mean you only lost a client so therefore its time to look for another client while still servicing your other clients.

Nice to hear

Ok

O

Naturally dem go conform

lastly, *Get a caring girlfriend and do away with runs-girls

And nairabet

Where will the money to save come from?

DROGON:
The best way to save money is doing all these even with a Job.

true talk my buroda. Not when the money is nt forthcoming b4 u develop these habits. Remember, u cannot teach a righthanded man to be lefthanded.

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Okay motigbo..


The most Important is dating a down to earth girl...whom will help in making sure you are secure and insured during this time......


Thays why when you have spend on a girl with career and someone who loves you for who you are and not someone who cherish you for what you have and what she can crap from your hard earned doooo...have been down this lane before s and I know how it feels when you don't have a lady that sees your future and not the one that visions your present alone....



Andyour mother . yes mother..forget brotherea and sisters....your mother has it all so spend on her now...
A mother love to see her son happy, she would go all length to keep you afloat .. Pending when you re back on your feet..but don't use her as ATM...


Final and final...... Be skill .. When you RWw skilled,hunger won't come close to yoi ......for some of our brothers they knows what am saying ..forgive my grammar ... I be FSLC holder ....smiles joking


Again.

Nice one and also move to a lower cost housing if it's taking too long to secure a new job. You don't want to be spending high on housing when you're unemployed.

You don't need to wait before u are out of job before u started doing these

Well done Adesiji77. Nice write-up.
The point on renegotiating deals and Rents ...not so much especially in this part of the world where your landlord and lender banks are viewed as demi gods.

With the kind of salary here in naija,
Without you doing all these, you will end up
Working 10years with no savings.
we work like an elefants and eat like an ant.

Money is hard to get but easy to spend

Chidoo74:
With the kind of salary here in naija,
Without you doing all these, you will end up
Working 10years with no savings.
we work like an elefants and eat like an ant.

No be small o! F' up nation where dreams barely comes to reality.

Good, very informative.