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How To Improve Your Financial State Without A Job

Maybe, at some point in your life, you might end up losing your job or deciding to take a break from corporate life. Losing or quitting your job is not the end of everything. You can still improve your financial state even without regular employment. Just be resourceful enough, and you’ll be surprised with how you can hold your head up high even without a job. Here are some ways to improve your financial state while being unemployed:

1. Stay on a tight budget

With no stable income coming in, you need to be wary of your expenses and stay on a strict budget. If you don’t want to work, it will be helpful to remain frugal. Try to keep your mind open and look for ways to spend less. If you only try, you’ll be shocked at how much you were supposedly able to save before. Control your expenses and spend within your means while also increasing income through the different avenues discussed below.

2. Divest into investments and trades

Having passive income is very important when the time comes that you no longer have a regular job. This passive income can be in the form of bonds investments, real estate investments, trade portfolios (i.e., cryptocurrency, stocks, forex), and fund investments. If you have some money lying around in your bank accounts, it’s better to divest them and put them into investments and trades.

If you do not know how to invest or trade, you can place your money in brokerage houses or some banks where they have fund managers to do the job for you. On the other hand, another form of passive income is buying real estate properties and renting them out. By doing this, you will no longer have to work, but you are still getting regular income.

3. Earn money online anywhere and anytime

Right now, with the rise of the internet in this generation, there are more and more legitimate and convenient ways to earn money online. You just need to do some research, and you will be able to find so many ways you can put your hobbies, talents, and skills into good use. Here are some examples of online jobs available:

  1. Answering surveys
  2. Writing blogs
  3. Freelancing
  4. Graphic designing
  5. Being a virtual assistant
  6. Doing Amazon Mechanical Turk
  7. Online tutoring (languages, SAT exams, math, science, etc.)
  8. Product testing
  9. Web page designing
  10. Coding
  11. Data entry
  12. Transcribing data

4. Sell your old things of value

In your home, there are certainly some things that you don’t use anymore. May they be clothes, furniture, accessories, or gadgets, there’s bound to be some things lying around that no longer serve a purpose for you. But that’s where you’re wrong. These things can still bring monetary value to you. You can do this by selling these items in garage sales or putting them up online for sale. This way, you can monetize the things that you don’t use anymore. After all, one man’s junk might be another person’s treasure.

5. Continue looking for different sources of income

Don’t stop looking for different sources of income. It’s important to keep this at the top of your mind, so that you will always be on the lookout for money-making opportunities. For example, if you have a big apartment, you might be able to renovate it such that you can take another tenant. You can probably rent out the other half for someone else to live in. Moreover, there are random times when the government issues government bonds that have more significant interest rates. If you find those, you might want to invest your money there.

6. Don’t get into debt

Lastly, to maintain or improve your financial status, you have to stay away from debt. It's tempting to just borrow money from the bank when you are in need, especially when you’re jobless. But this might be the biggest mistake that you will ever make.

Most importantly, stay away from bad debt. Bad debt is when you borrow money to purchase consumer items that will only depreciate in value. These are not necessities, and it will not add any value to your financial status. Only borrow money when you are assured that it will be put into something income-producing, such as real estate, for example.


Your income stream does not need to dry up if you do not have a job. You just have to make your own contingency plans and be resourceful in finding ways to earn some extra bucks. Just follow the tips here, and you can keep your financial state in check.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.

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