Should I Collect Unemployment Benefits?
In the entertainment world, it’s pretty standard to have periods where you’re collecting unemployment, and I never thought much about it until recently. I’m now wondering if I should apply for unemployment benefits or not.
In my mind, unemployment has always been a last resort to ensure you can feed yourself and keep a roof over your head. Since I have my parent’s place as backup accommodation, I didn’t see unemployment as an option for me.
Also, I earned more when working on a cruise ship and had shorter periods out of work, usually 5 to 8 weeks. I even thought of these periods as vacations as I had travel plans and plenty of leisure activities lined up. Should unemployment money really fund this? It doesn’t seem right.
This summer, I’ve saved up an emergency fund and I’m still on the hunt for jobs. I thought I could scrape by on my $1,500 in savings. Plus, by earning income from eBay, mystery shopping, and freelance writing, I thought I could either cover costs or at least put a significant dent in them.
A co-worker mentioned something that got me thinking – we’re all paying into unemployment, so isn’t it our own money we’re claiming?
I’ve paid into unemployment through state taxes for years. The high unemployment rate in recent years has meant the federal government has also chipped in to help state unemployment funds. This is also a tax I’ve been paying for years.
If I was living alone, I’d apply without a second thought. But a thought keeps bugging me: “Hey, you worked hard to build up that emergency fund. You should protect it and make it stretch. This is a smart way to do that.”
Also, my parents raised me to consider things like unemployment as a last resort. And I also consider that there might be others who need it more.
Ultimately, I think, till it comes down to not being able to eat or sleep without a roof over my head, unemployment benefits shouldn’t be on my radar. It definitely pushes me to hustle and strive for employment.
It’s my first time contemplating this situation, and I understand situations can change perspectives. Maybe after more years of freelancing and experiencing layoffs, I might need to apply for unemployment benefits when I don’t know when my next job will start.
So, I want to know – have you ever claimed unemployment benefits? Was there ever a time you could have, but chose not to? Did you maintain an emergency fund while you were unemployed?