Losing your job is a life changing experience, even if you are only out of work for a short time. One of the aspects of your life it can really affect is your financial well being and your credit history.

The rate of unemployment in the US is still not improving that significantly and many people who would have never imagined they would be without a job now are. If you find yourself in that unfortunate position it can be a very difficult one in many ways but especially from a financial point of view.

The ideal credit card practice in the eyes of most financial experts is to ensure that all balances are paid off on a monthly basis but in reality that is rarely the case for a large percentage of cardholders so finding a card with a low APR becomes a priority so that if they are going to carry a balance for a while it costs them less to do so.

Losing your job is rarely (if ever) a pleasant experience and it certainly has a major impact on your finances. If you are eligible to receive it, unemployment insurance is a help but it is usually an amount that is considerably less than you were earning while employed.

In the 21st century there are just some things it is hard to do unless you have a credit card. Booking a hotel room now often requires you secure your reservation with a credit card.

There are a number of great advantages that come along with taking the plunge and choosing to become self employed however in the beginning at least a regular income is not always one of them.

Joining the ranks of the unemployed – whether you saw it coming or the job loss came out the blue – seriously impacts most people's financial situation. Even if you qualify to receive unemployment benefits (not everyone does) in most states this benefit pays out a level that is far lower than the income you just lost.