How To Budget When Unemployed

I was unemployed for almost two years until took this job with 99.1 The Whale. It was ugly, but thanks to a good weekly pay rate from the State of NJ, I survived.

I know there have been some layoffs in the area lately, and more to come I'm sure, so I want to pass on a very important tool to help you through.

My Dad made me write a budget. And I mean a very specific budget. What I learned by doing that was I wasted a bunch of "small change." And that can add up to big money.

Many families don't have an actual budget all planned out. You need one. Unexpected things, like losing a job, happens and this helps you get a quick handle on things.

The first rule of thumb is to write everything down. Bills, medications, pet food and every cent you spend all the way down to parking meters and vending machines. If you give your kid or grandkid spare change to get a treat every once in a while, that counts.

You'll need a worksheet to start and then use a spreadsheet to get it all worked out. Here's another thing I learned. Post the budget where you see it every week! And change it when needed.

If you lose your job or get injured and can't work, your finances will be in order and making cuts will be easier. I always put non-necessities together on the spreadsheet. They get the axe first.

I found a pretty good site to help you get started. Take a look here. Getting financially fit could be your new resolution for 2013!