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How To Handle Debt When You’re In Between Jobs

Whether you lost your job or quit in order to find something that suits you better, being in between jobs can be very stressful. There are a lot of things you need to figure out; how you are going to pay for a place to live, how you are going to feed yourself, but, one of the more troubling ones is how you are going to handle your debt. The biggest trouble here being that, with the lack of financing at your disposal, the debt you have is going to become an ever-increasing liability, which could spiral out of control if not handled properly. In order for this not to happen, you are going to have to make some sacrifices and put in a lot of effort to stay afloat; however, not everything is as dark as it seems. There are some sure-fire ways and options you can use in order to make the whole process as stress- and trouble-free as possible.

Look for unemployment benefits

The great thing about most modern countries is that they provide a lot of help and benefits for those who are currently unemployed. A prerequisite to applying for these benefits usually only requires you to actively be looking for a new job, which can also work as a great motivator. Luckily, New Zealand is a country that has a great system of unemployment benefits, which you can easily apply for. While this most likely won’t be enough to cover all of your debts and expenses on its own, it is a great place to start, and can make your life substantially easier, while also helping you find your next job.

Find other sources of income

Having a stable full-time job isn’t the only way you can make money. In fact, there are a lot of temporary options you can explore that can, when combined with unemployment benefits, or even on their own, allow you to successfully get through these tough times.


The internet has allowed a new job market to open and to flourish. During the course of your life, you have surely picked up a few skills that you can put to use by finding a freelance job on the internet. If you know two languages, you can translate texts, if you have some experience with coding, you can code. The possibilities are basically endless if you are willing to put in some time and effort. The good part is that, even if you don’t think you have any of these skills, with the free time on your hands, you can try and learn to do something new. This will surely help you with your current situation; but, it can also be of great use to you for the rest of your life.


If you don’t have the time it takes to acquire a freelance job, and are in need of quick cash right now in order to pay your debts, it may be worth looking into some quick cash loans. Most businesses that specialize in cash loans in NZ give their customers very favourable terms with options of delayed payment in order to accommodate your current needs and possibilities.

Organize your expenses

If everything else fails, you will need to start making some sacrifices with your everyday comforts and expenses. In order to do this, you should start by trying to track where and how you spend your money. This will give you the information upon which you can then plan your budget. The ultimate goal of this budget should be to reduce your expenses as much as possible and eliminate wasteful spending.


People tend to underestimate just how much money we spend on food, and this makes it a great place to start cutting your expenses. Eliminate eating out as much as possible, and try to cook your own food. This won’t only save you money but it can also have positive effects on your health and daily habits.


At the end of the day, you should try and focus on staying on top of your debt as much as you can. Try to get organized by writing it all down and dividing it into priority categories. This will help you keep track of how you are doing, while also giving you the ability to get a closer look at the way your debts are structured.


In conclusion, being in between jobs while also having to handle debt can be a nightmare. While the suggestions listed here can help you get through these difficult times, the only real solution is to get yourself out there and find your next job. While this will surely be hard and seemingly pointless at times, you should constantly keep reminding yourself to keep going and not give up hope.

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