We were in a tough spot for a long time, we had a small house fire and having our entire kitchen removed, with no insurance money for food (eating out was just wayyy too expensive,) we needed to figure out a way to eat without going completely broke. I can tell you what I did, I truly believe I found the cheapest way to eat with only a mini-fridge and microwave, without needing to load yourself up with preservatives from frozen meals. First off, something calling Armour LunchMakers, NOT Lunchables, these are called LunchMakers. Very similar to Lunchables, but only $1.00 a piece, and really, really good. (IMO, better than Lunchables.) They even have a pizza one that you can make in the microwave. And they always add a little candy, like a Nestle Crunch bar or something like that. Again, only for a dollar. And the other thing is mixing cream cheese with a can of chili, and then warming it up and dipping corn chips into it. THIS will last you a week and it's practically an entire meal and only costs about $6.00 total. Hope I helped somewhat when it comes to food, because that alone can be a really huge issue money-wise.
When we earn more, we spend more... and this is obvious to anyone. So, if in case one loses his job, he has to cut his expenses and only spend on the necessary things like school fees which can not be lessened. As far as food is concerned, if you eat twice a day for a few months, you won't be ending up to death for sure. That is to say, spend less on food and don't look upon to luxuries until you get a new good job. I hope you get over this phase nicely.
Accommodation should be your first priority, especially if you have dependents. I know this me be humbling, even humiliating, but, if you're renting your lodgings, you may want to consider moving in friends or relatives. You may be reluctant to this because you think you'll soon find employment, but in these trying times, you just don't know when that next job will come. Your second priority should be food. Obviously you might need to forgo some luxuries, but once you've sorted out the first two priorities, your period of unemployment should be manageable.
Well this is certainly not something that anyone wants to have to do or even plan for, but it does happen. I always like to have enough in savings to last me a while, but you could make the argument that maybe less available makes the drive to go find work a little better.
I agree with your choices, we say it a little differently in our local languages, Roti, kapra and makan (bread, clothes and home) in that order. If you have food then half your problem is solved and you need clothes to cover your body and save it from harsh weather conditions and finally you need a roof on your head. So, the best way is to remain prepared for a rainy season.
I could write a book on this. Loosing your job can be a quite traumatic experience. And it usually happens when you least expect it. The first thing to do is to prioritize your spending. It helps if you have some savings stashed. So things like food, housing, education stays on the top of list. Clothes and entertainment rank on the bottom if at all you need it. You have to always have a daily plan on how you spend your money this period. Cook at home, turn off the lights always, dont waste anything. Ask for help from family and trusted friends when you need help. And take it one day at a time.
Ideally, aim to have between three and six months of your living expenses saved in an easy access, high interest bank or building society account. Even a smaller amount will be useful. Having cash in the bank is always good and will help you manage financially until you find a new job.
One way to stay on a good budget after losing a job is to try couponing. I have been slightly inspired by the show extreme couponing to save a bit of money here and there. Also try to spend a little less on luxury items and only pay what you need, keep an emergency jar around and put in spare change or dollars in it if you have any.
One day we going to leave our jobs either by retirement or otherwise. I think what workers should do is to start saving and making budget for the future, when they finally stop working, while still active at their jobs. Investment in Real Estates, which would appreciate greatly over time, and savings in bank with good interest are a few ways that can help with money when out of job.
