Homeless and Living on Reward Points

(CANVAS STAFF REPORTS) - Amid fallout from the recession, people are constantly seeking creative ways to cope with unemployment and stretch a dollar. In the case of one homeless man, it’s hotel and airline reward points.

Jim Kennedy of Newport Beach, Calif., lost his six-figure job, condo and filed for bankruptcy. The former IT and finance executive has been out of work 19 months but is using perks from his high-flying working days to weather the economic storm, reports the Orange County Register .

The 46-year-old has converted hotel points and airline loyalty rewards into a strategy for survival. With many of his possessions in storage, Kennedy lives out of leased BMW , moves from hotel to hotel and eats on $5 a day.

Recently, Kennedy converted United Airlines miles into a four-night stay at a Holiday Inn Express. He brought down the 7,000-points a night cost to 5,000 by adding $100, bringing the total cost to $25 a night, including free breakfast. According to the CBC , Kennedy has about 1 million airline and hotel points.

Kennedy is also making his plight public via Twitter. His Twitter name is @HomelessThomOC . He scours job banks and tries to connect with recruiters but it’s tough. A recent report from the National Employment Law Project found 6.4 workers for every job opening.

Despite those grim statistics, Kennedy tries to stay hopeful.

"I don’t have a choice. I gotta keep going because I’m kind of running against time," he said. "I have to find a job before ‘A’ or I’m going to run out of ‘B.’ I just gotta get to the finish line," he told The Register . Kennedy also said he can survive on his unique point system for a few more months, if necessary.

Kennedy is among more than 140,000 jobless people in Orange County.