Looking for the first job is similar to climbing a very expensive mountain: the equipment, travel expenses, the pressure to look like a professional—you pay a huge amount of money before receiving your first paycheck. Unfortunately, most of the advice is either too general or too moralizing to be really helpful.
Therefore, being in debt during the job hunt is not only about credit cards. It is about those subscriptions you forgot about, networking dinners costing you a week of groceries budget, and anxiety when your savings reach a certain level. Believe me, I know this feeling myself, and it is awful.
First of all, let us discuss the key element of your clothing—suit. Obviously, there is no need to spend $400 on a suit from J.Crew for your online interview. You just need to find an elegant button-down shirt at Uniqlo, and for creatives—a distinctive blazer from Zara is enough. The key point here is that the interviewer wants to hear your answers, not to count the number of buttons on your suit.
Secondly, transportation can be pretty expensive. If you have an in-person interview, try public transportation, which is usually cheaper than parking your car in the center even for several days. In case of remote interviews, make sure to test your technology before to avoid paying additionally for the Uber trip to the coffee shop with a better Wi-Fi connection.
Speaking of food—expensive salads and lunches are very attractive when you are hungry to death. Take snacks with yourself—just a granola bar and a bottle of water may help you avoid spending on food. Preparing meals in advance is not luxurious but can help you save a lot of money for other purposes.
Then, let us turn to the tools. LinkedIn Premium, resume templates, portfolio website—are all promising to give you an edge. However, sometimes it turns out that it is not the case. Just try their free trial, set a reminder in your calendar, and cancel the subscription. You will be amazed how much money you will pay for the $30 monthly subscription for something you tried twice.
As far as paid networking events are concerned, everything depends on the event and speakers. An affordable price for an industry mixer is $20, while $100 for “exclusive” event for entry-level professionals is usually a rip-off. Make sure to check the list of speakers and whether it is worthwhile to attend the event.
Of course, relocation in search of a better opportunity can be tempting. However, relocating to another city without getting the job offer first can be quite costly. If you have no other choice, then try negotiating some relocation assistance. Companies usually provide it, but they will offer it only if you ask for it.
Side gigs can help you during the job hunt. Being a freelancer in your field is a decent way to build your resume and earn a bit of money. However, being a delivery man for DoorDash does not add anything to your LinkedIn profile.
Remember to track all your expenses in one place. Use some money management app, such as Mint, for this purpose. In this way, you will understand where your money goes.
Finally, do not forget to take care of your mental health without wasting your budget. Gym is great but there are free workouts on YouTube and running outdoors. Netflix subscription is cheaper than buying new games. Call a friend instead of buying a new one.
Obviously, finding a job is not easy now. However, going into debt even before you start looking for a job can lead you to the pit, out of which you will have to dig yourself for a long time.