No one on this planet wants to live a life under poverty. To make life hassle-free, one must have a continuous or fixed source of income. Most of the people prefer to do regular or corporate jobs in the hope of getting a paycheck at the end of the month.
Everything goes good and one day you face something you have never expected i.e. sudden job loss. It is nothing less than a catastrophe and disturbs your financial budget in all possible ways. To manage expenses without any source of income become difficult for any individual. It turns more difficult to manage financially when you are the only source of income.
But there are several options available which can help you stabilise your situation to some extent. We have mentioned those ways below…
- Friends and relatives
You can borrow money from them. It will give you immense benefits such as no or low-interest rates. The repayment time will be flexible.
Many online lenders in the UK assist financially in the form of loans for unemployed.
- Part-time work
If you do not find the rest of the ways interesting then you can start freelancing work. Register to the online platform and get work that suits you.
- Benefits of unemployed
You may not have any idea about this. Let’s understand more about it…
What is an Unemployed benefit?
It is basically a stipend provided by the government to those who lost their job under no fault of their own.
How to qualify for it?
Not every unemployed person get this relief, there are certain requirements which you must satisfy. You can only access this fund if you have temporary job loss and there is no role (negative) behind your termination.
There are certain reasons if your application gets rejected. So, if you really want to grab the benefits of this fund, then you should take care of the following mentioned points.
- Voluntarily job retirement
Sometimes, people left their job for many reasons such as not suitable work environment, did not find it interesting and many more. You can be eligible for this fund even if you left your job but the reason must be GENUINE. If an agency finds your cause authentic then congratulation!
- Willing to do next job
The state government would love to fund you if they find that you are eagerly searching for a job. You have to mention that how active you are to find new work in the claim process. If they find that you are not interested in doing a job then your application may get rejected.
People, who are physically disabled or met with an accident, and are not able to join work immediately, are not eligible to avail these benefits. BUT you will uncover this fund once you will able to join a new job or willing to search one.
- Conflicts between workers
This one is the major reason to become jobless. If you had lost your job because of some conflicts then you are not suitable for this scheme. If you think that it was not your mistake then you can appeal and after that agency will conduct an investigation. And if they find that you were right, then you can apply for this plan.
- You did not have sufficient earning
Sometimes people do not have sufficient work during a base period which leads them to do extra work such as freelancing or side business. It is not included in the requirement of the benefits of an unemployed. It may happen that your employer had reported against you for the incorrect source of income.
You can see there are several things you have to consider before approaching the unemployment agency for benefits. It would be better if you analyse your situation and try to provide a genuine reason IF you left the job.