Surviving on Unemployment Insurance

[Benzgirl]

I was laid off December 2 and my severance pay ran out last week. I have a one-week waiting period, then I get a whopping $365 per week. Considering my mortgage is around $1800, I can't live off unemployment.

Your question is valid, MOST people can't live off UI unless they have a working spouse. The $365 per week will pay my utilities, car lease and COBRA. Food is no longer a necessity, I guess. I was fortunate that I foresaw troubled times ahead and stashed away a lot of money (left it in cash). I also had no balance on my credit cards. Not including the UI, I have over one year to live off of my savings.

If I dont have a job by summer, my only choice is to put the house up for sale. Another glitch is that my tenant is moving out of my condo (rental) by April 1. The rental is up for sale or for lease, but no action yet. If nothing happens, I'll probably do a short sale and hand the procedes back to the bank. So much for my 796 FICO.

I have done a lot of research on Free Training. I was in a 2007 Power Point Class yesterday, offered by a local Computer firm and will take a Dreamweaver class from them in 2 weeks. The local Community COllege is paying for my Paralegal Certification, as well as two additional legal classes. I have an appointment on Tuesday to talk to a Job Works Network to cover my books. I never knew that I could get so much by walking in with my Severance Papers.

I'm in the minority, though. One of my friends (whose spouse does work), said the family will be able to survive until May. Another friend, a single mother with 2 kids, is living on credit cards now. She can't file BK since she did so a few years ago. She has COBRA for herself and is getting federal assistance for the kids medical. She can also qualify for food stamps because she has no savings.