Whenever you are laid off from your job it will be quite shocking that you have no money coming in. It is at times like this you will have to live off of your savings account. It is also at these times that you will have to learn how to live a frugal lifestyle. Some of these things include taking advantage of free or low cost entertainment such as going to the park, going on bike rides, renting movies from the library and going swimming whenever there is half price admission. While you will not be able to go on vacation, you can still take a day trip where you bring your own food and drinks.
If you are laid off you should not just sit around the house. Instead, you should keep busy by doing those home improvement projects that you keep putting off. Are there lights that need installed? Does your driveway need blacktopped? Is there trim on your house that needs repainted or replaced? Not only will you be getting these things done while saving money because you did not have to hire someone to do these things for you but you will not be sitting around waiting in vain for the phone to ring.
If you have teenagers in your house now is a great time to start teaching them about financial responsibility. Help your teenager find a job so that they can pay for their own clothes and grooming items.
Of course, just like there are some things that you should do, there are also some things that you should not do.
If it is hot outside you should not eliminate the use of your air conditioning. If you do not use your air conditioning you will be sweaty and crabby. Avoiding these feelings is definitely worth the cost of electric.
You should not view frugal living as drudgery. Instead work with your family as a team whose goal is to take only the very minimum amount of money out of your savings account each week. Of course, you should not ever fight with your team and so you should not fight with your family either, regardless of how stressful this time may be.
Once things get back to normal and you return to work again there are some things that are really helpful that you should do in case your family should happen to hit another dry spell.
First, you should continue to add to your savings account. You should also make sure that you do not get behind on your bills. This is something that is going to be very helpful to you and your family.
Secondly, you should do your best to use what you have on hand before purchasing anything. In this way you can get the same results without spending any money.
Third and finally, it is important to both know and understand that good habits truly pay off. If you do not get use to carrying a credit card balance then you will not be tempted to buy something on credit. It will also help if you do not grow accustomed to recreational shopping. Of course, it is easy to use credit cards for recreational shopping whenever you have money coming in but this is just a bad habit to get into.
Living your life frugally all of the time will help you to be prepared for when and if a dry spell should occur.