Losing a job can turn your life upside down, especially if you are only a few years away from retirement. But a sudden layoff doesn’t have to completely derail your retirement plan. Here’s how to make some money between jobs and get through this period unscathed.
1. Go for a temp job or contract work. Temporary jobs or contract work can provide you with income while you continue to search for another full-time job. Temp positions often need to be filled quickly, so you’ll avoid the typical amount of time it takes to get hired as a regular staff member.
[See: 15 In-Demand Jobs for Seniors.]
2. Drive for a ride-sharing service. As long as your car meets the company’s requirements, you could earn decent money driving other people around. If you prefer not to have strangers in your car, local food delivery services also have a need for drivers. The best part about a driving gig is the flexibility. You get to choose when you work and only pick up deliveries or passengers when it fits your schedule.
3. Freelance. Depending on your personal experience and skills, you can pick up a freelance job in writing, graphic design or online bookkeeping. Freelancing is a flexible job, and it can be done from the comfort of your own home. Once you get your next full-time job, you might even be able to keep freelancing on the side to earn extra money.
4. Look after pets. Pet sitting is a lucrative side job, and it won’t take up much of your time. Pet owners frequently need someone to watch after their pets when they go on vacation or travel for work. Look online for local jobs, or ask around the neighborhood.
5. Teach English online. Consider working as an English as a second language teacher for students who speak a foreign language. This job can be done part- or full-time, depending on the needs of the company, and you don’t have to create the lesson plans yourself. You also get the satisfaction of helping others to lean a valuable skill.
[Read: 10 Jobs You’re at Risk of Losing as You Age.]
6. Rent out a spare room. If you have extra space at home, consider renting out a room to someone willing to pay top dollar for it. Depending on where you live, a spare bedroom could be used to bring in a steady stream of extra cash, if you are willing to live with others. Those who don’t want to take on permanent roommates might be able to rent out the room to short-term visitors.
7. Declutter your life. Go through everything in your house and look for DVDs, books, clothes, electronics and other items you can sell. No matter what you want to get rid of, there’s probably an app, website or local shop where you can sell it. Decluttering your house can turn unwanted items into a source of income. Now you have the time to sort through everything and earn extra cash while doing so.
8. Reevaluate your budget. Until you have another full-time job, you probably need to take a close look at your finances and see where you can cut back. Without a solid job, every penny counts, and your money needs to go toward monthly bills. Take a close look at your needs versus wants. For example, you can probably cancel your gym pass or go without Netflix.
9. Network your way to a new position. Talk with former coworkers, friends and family about any opportunities they might know of. It’s also helpful to attend local networking events and connect with prospective employers and former coworkers through LinkedIn. When networking and going on job interviews, don’t trash the company that laid you off. Instead, focus on the positives of what that position taught you and what you learned about yourself as a professional in the workforce. Take care to clean up your social media accounts and update any personal information.
[Read: 10 Resume Mistakes That Make You Look Old.]
10. Take a short break to regroup. Give yourself a couple days to decompress and process what happened. You don’t need to start job hunting within minutes of a layoff. Also, don’t make any major decisions right after a job loss, as it might be hard to think clearly and rationally. Being laid off is always stressful. However, these jobs and tips will help alleviate that stress and get you prepared for your next career move.
Jacquelyn Pica is a staff writer at The Penny Hoarder.
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10 Ways to Make Money if You’ve Been Laid Off originally appeared on usnews.com
