Searching for a new job can be thrilling but, at the same time, a bit scary. You might struggle for a few months while searching for your next position, especially if you don’t have money saved up for your time between jobs. Fortunately, there are many ways to cut costs while seeking employment that have zero effect on finding your dream job. Here are a few simple ways to save money during a job search.
1. Cut down travel costs
Transportation expenses can quickly sum up during your job search. Whether it’s paying for hotels, flights for out-of-state positions, or gas for local gigs, you can get broke just going for the interviews.
While most organizations will prefer one-on-one interviews, requesting a phone or video interview is the best thing, especially for the initial round. Due to new technology, video calls are more reliable today, and many companies are open to this approach.
If you have to use a private vehicle for your transportation, you can save money at the pump by ride-sharing. You may also ask the potential company’s HR manager whether they can compensate you for a fraction of or all of your travel.
2. Opt for rent-free living
Leasing or renting a house can be costly for job seekers. You have to put down a deposit or make some payment in advance. If you aren’t already onto a lease, consider sleeping on a friend’s couch or staying with your parent until you secure employment. Staying rent-free can do wonders for your savings account and help you sign a lease as a confident, hassle-free new employee when the time is right.
3. Build a budget-friendly wardrobe
Another simple way to save cash during your job search is to create a budget-friendly wardrobe. Rather than spending extravagantly on new clothes, consider shopping where you can find affordable, secondhand formal attire, like consignment shops or online marketplaces. You can also explore cloth rental services that offer access to a wide range of outfits for a fraction of the price.
4. Utilize free learning resources
Furthering your learning is a perfect way to improve your value to prospective employers. However, it’s not essential to spend a large sum of money or take out a student loan to take your resume to another level. You can take free online classes through organizations like Coursera or edX without spending a dime. That said, you can search for low-cost applications to learn new programming languages or master a foreign language if you have some money to spend.
5. Keep track of all tax deductions
Most job search costs, including a CV or resume preparation, are tax-deductible, provided you are searching for a job in today’s job market. However, it will be hard to leverage these tax benefits if you haven’t kept track of your receipts.
Find all tax-deductible job search expenses from the IRS website and keep a dedicated file. While you might not save money upfront, you can certainly cut down your tax burden on April 15th.
Endnote
Searching for a new job opportunity can be expensive and overwhelming. However, don’t let the lengthy job hunt ruin your finances. With these simple tips, you can stretch your budget and save some money to focus on landing a perfect job.
