How are people who cannot find work in the current economy able to make ends meet financially? (employment, credit card)

[Phoenix2017]

I was just wondering: how are people who cannot find work in the current economy, and/or may have been laid off and cannot find a job to replace the one that was lost, able to make ends meet financially?

For example: even though they may not have a job, they still have to have a roof over their heads, be able to put food on the table, pay for energy and heating costs, etc. But with no active job salary coming in, how are they able to do it, on a practical and everyday basis? Do they stay and/or live with family members who can help asssit them financially, for as long as they are out of work? Also, what about those who have no living relatives? I can see how practical measures like food stamps can assist them with the need for getting food, but even with that, how are those out of work able to keep up on an apartment or mortgage payment, for instance?

[barkomatic]

I hear gangs of libertarians sour the countryside screaming "parasites!" hunting for unemployed people that they can cook and eat.

[brightdoglover]

I know two people in their 60s who have taken early Social Security and try to work off the books as a caretaker for elders or adult day care for dementia, etc. One has always done so and the other was laid off permanently from an office assistant job.
I know there are people doing casual labor on construction sites for cash, you know, if some contractor needs extra people for a day or so, etc.
Dog walking/pet sitting, like adult caretaking.

[sware2cod]

This is why you save money your entire life....they used to call it "Saving for a rainy day". Now it's called the "Emergency Fund" or "Emergency Savings".

Basically you save and save and save while working so if you lose your job, this money is used for basic living expenses. You always make sure there is enough money in that acct even if you don't think your job is at risk. Never borrow from it, never spend it until your rainy day comes. Then only take the minimum necessary and replenish it asap. If your rainy day never comes, then you have more money saved for retirement.

[s1alker]

As the traditional "job" disapears, i feel we will return to a more feudal barter type economy.

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[Hemlock140]

Savings and credit cards.

[YaFace]

Originally Posted by s1alker

As the traditional "job" disapears, i feel we will return to a more feudal barter type economy.

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We are several dozen disasters away from returning to a barter economy. Most people have more crap in their garage than they know what to do with, they don't need more crap.

[txdave35]

Originally Posted by sware2cod

This is why you save money your entire life....they used to call it "Saving for a rainy day". Now it's called the "Emergency Fund" or "Emergency Savings".

Basically you save and save and save while working so if you lose your job, this money is used for basic living expenses. You always make sure there is enough money in that acct even if you don't think your job is at risk. Never borrow from it, never spend it until your rainy day comes. Then only take the minimum necessary and replenish it asap. If your rainy day never comes, then you have more money saved for retirement.

I really like Dave Ramsey's plan, and trying to do it myself. It basically goes like this:


1. Build up a quick emergency fund of 1K-5K in savings for unexpected expenses
2. Save and put all extra money into paying off debts asap
3. Save up at least 6 months of living expenses for an emergency fund.


Course in today's climate, I'm not so sure I would even feel comfortable with just 6 months. A year's salary is more like it.

[s1alker]

Originally Posted by YaFace

We are several dozen disasters away from returning to a barter economy. Most people have more crap in their garage than they know what to do with, they don't need more crap.

I live in a working class neighborhood where a lot of people have under the table businesses (lawn care, handyman services, ect.) I just think if the traditional 9-5 30 year job goes by the way side people will be forced to consider other options.

About the full garage yeah, people don't realize how little one really needs to get by. Of course people tend to splurge in good economic times.

[Ted Bear]

You spend your savings.

Then you max out your credit cars.

You sign up for food stamps and any/every imaginable sort of government assistance.

You cash in your retirement plans.

You borrow from family and friends.

You sell anything which will generate any money....$2.00 for a used baseball bat; $1.00 for a used gasoline can; $10.00 for a wedding ring.

You scrounge bottles and cans and you return them for the deposit.

You find a temporary part-time day laborer job which has six hours of work a week.

You apply for Social Security.

You visit the local food pantry.

You get a couple of meals each week from the soup kitchen at your local church.

You get through one day at a time. Today I 'made' five dollars, and that bought meals for my family. Tomorrow if I can raise $7.00 I can buy a bag of potatoes and that will be three days worth of meals.

There is no next week, or next month. You do what you have to do in order to get through today. All that crap that you thought you needed? You don't. What I wouldn't give for a warm shower.

And then a miracle happens. You find some/any employment, or you die. Either way, the pain is gone. It doesn't matter.