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The Employment Development Department’s official statement announced that unemployment benefits for pandemic unemployment assistance, pandemic emergency unemployment assistance and pandemic additional compensation would end on Sept. 4. Of course, most individuals were well aware of the date long before, as they scrambled to determine how to make ends meet when the financial aid stopped. Just because the country reopened to some degree does not mean jobs fell in peoples’ lap or that finding a job is easy. Research out of the Urban Institute shows after a person has been unemployed for six months, they become increasingly likely to either never get another job or if they do, never reach the income they’d previously been making.
Many job seekers could be finding The Urban Institute’s findings to be true. At times, it seems that those who already have jobs are the most likely to get offered jobs and those who’ve been unemployed might get looked over because they’re “out of touch” or have employment gaps in their resume. Even though a pandemic should explain the gap, for many employers, it’s not enough. So if you’re struggling to find enough work and losing that extra $300 a week in financial aid has you in a tight spot, here are some things you can do now to make ends meet.
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Transfer your credit card debt
If you are carrying a high credit card balance that you can’t afford to pay off right now, then the interest might be accruing. Stop the interest meter from running. Look for credit card companies that offer zero interest for the first year. Some offer it for the first two years. Transfer your debt there so at least it will stop growing. That’s the first part: now you need to curb spending. Only buy things you can pay for. Spending in cash or with a debit card can help. This is important so your credit card debt doesn’t continue to grow. The aim is to pay off the current amount before the zero percent interest period ends.
