Paying Your Bills When You’re Unemployed

Should you find yourself out of work right now, there is still a lot you can do to stay on top of your finances during tough times.

3 min read

If you don’t have a regular paycheck coming in, managing your money and keeping track of your bills can be especially challenging, and perhaps even daunting. At N26, we aim to help you get a handle on your finances through good and tough times alike. 

Should you find yourself out of work right now, there is still a lot you can do to get through tough times, and stay on top of your finances. We know things might be especially stressful, but read on and discover how to work through any challenges that you may be facing right now, beginning with your monthly bills.

If you find yourself out of work

Being out of a job can be scary, and we understand that it could make looking at your finances even less appealing than usual. But even when times are tough, there are steps that you can take to regain a sense of control, and feel more prepared to deal with the immediate future. 

Even if it seems difficult, reviewing your monthly bills and expenses to see exactly where you stand is a good place to start. How much money will you need in the next month? Which payments are due first? You can keep track of your money easily with spending statistics on the N26 app, which automatically categorizes your purchases into a simple visual breakdown.

Make a list of essentials that you can’t do without, including food, shelter, transportation, and health expenses. Write down how much money you’ll need each month to cover these essentials.

Based on the information that you gathered in Step #1, decide which categories of expenses you are able to cut back on. For each category, think of a few small or large changes that you could make to reduce spending. Don’t overlook small monthly subscriptions, which can add up quickly. Find practical ways to save money on your food budget, lower your utility bills, and even your gasoline expenses. With some small adjustments, you can substantially reduce your monthly spending.

If you have savings or a rainy-day fund, add up the total amount to determine how long it will be able to cover your expenses. Look into ways to replace your income, like finding freelance work and applying for unemployment benefits, and any other avenues that might be available to you.

Create a budget that includes your expenses and long-term savings goals. By completing the previous steps, you’ll have a more complete understanding of your finances, and make this time of uncertainty a little more manageable.


Facing unemployment is never easy, but there are plenty of resources out there to help you get through these difficult times. At N26, we strive to give you the necessary tools and information to empower you to live and bank confidently, no matter what life throws at you. Take a look at our blog for tips to help you improve your financial wellbeing, including ways to rebuild your credit score, and break bad spending habits.

The N26 account is offered by Axos Bank®, Member FDIC. N26 Inc. is a service provider of Axos Bank. All deposit accounts of the same ownership and/or vesting held at Axos Bank are combined and insured under the same FDIC Certificate 35546. All deposit accounts through Axos Bank brands are not separately insured by the FDIC from other deposit accounts held with the same ownership and/or vesting at Axos Bank. The N26 Visa® Debit Card is issued by Axos Bank pursuant to a license by Visa U.S.A. Inc. The N26 Visa Debit Card may be used everywhere Visa debit cards are accepted.

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