HOW TO SAVE MONEY DURING THE COVID LOCKDOWN

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People across the world are having to spend a lot more time at home amid the lockdown, and it’s an understandably tough time, with many having to self-isolate at home for the foreseeable future. For some, this will have an additional, damaging impact on earnings and make saving money more important than ever.

As you work from home or stay indoors during the COVID-19 crisis let’s look at some ways you can make self-isolation work for your piggy bank and save some money during lockdown.

Cancel Unnecessary Subscriptions-

Now’s the time to figure out which of your monthly subscriptions are useless or non-essential you right now.

You and/or your family may have more time to use digital and music streaming apps during self-isolation, but reviewing your physical and digital apps now is a prime opportunity to cancel any unnecessary subscriptions.

As quarantine is affecting many a paycheck (not everyone can work from home), temporarily cutting expenses can be an act of necessity to pay your bills.

Gym memberships, for instance, aren’t useable right now, though many gyms are putting accounts on hold and aren’t collecting fees, it doesn’t hurt to get in contact with yours to make sure you don’t get charged until you can get back to working out. Stopping the gym doesn’t mean you have to be unhealthy either. Plenty of studios and personal trainers are sharing free content on the internet, and there’s lots of content on YouTube, there’s absolutely no need to feel like you’re missing out.

Another monthly service some people may use is a clothing subscription. A monthly box of new threads or work clothes is always nice, but right now it’s not much good when you’re not going to the office or out on the town to show them off. Now’s the time to finally make use of all the clothes you already own and appreciate each item for what it’s worth.

There are also various recurring commuter programs, whether they’re through your state or employer, that may continue charging you even though you’re now working from home. Some programs require a 30-day cancellation notice, so make sure you look into this sooner rather than later.

Itunes, Spotify, and similar music streaming apps could be cancelled or paused until lockdown is over as we’re at home, put YouTube on for the tunes and save some money.

HOW TO SAVE MONEY DURING THE COVID LOCKDOWN

–

People across the world are having to spend a lot more time at home amid the lockdown, and it’s an understandably tough time, with many having to self-isolate at home for the foreseeable future. For some, this will have an additional, damaging impact on earnings and make saving money more important than ever. 

As you work from home or stay indoors during the COVID-19 crisis let’s look at some ways you can make self-isolation work for your piggy bank and save some money during lockdown.

Cancel Unnecessary Subscriptions-

Now’s the time to figure out which of your monthly subscriptions are useless or non-essential you right now.

You and/or your family may have more time to use digital and music streaming apps during self-isolation, but reviewing your physical and digital apps now is a prime opportunity to cancel any unnecessary subscriptions.

As quarantine is affecting many a paycheck (not everyone can work from home), temporarily cutting expenses can be an act of necessity to pay your bills.

Gym memberships, for instance, aren’t useable right now, though many gyms are putting accounts on hold and aren’t collecting fees, it doesn’t hurt to get in contact with yours to make sure you don’t get charged until you can get back to working out. Stopping the gym doesn’t mean you have to be unhealthy either. Plenty of studios and personal trainers are sharing free content on the internet, and there’s lots of content on YouTube, there’s absolutely no need to feel like you’re missing out.

Another monthly service some people may use is a clothing subscription. A monthly box of new threads or work clothes is always nice, but right now it’s not much good when you’re not going to the office or out on the town to show them off. Now’s the time to finally make use of all the clothes you already own and appreciate each item for what it’s worth.

There are also various recurring commuter programs, whether they’re through your state or employer, that may continue charging you even though you’re now working from home. Some programs require a 30-day cancellation notice, so make sure you look into this sooner rather than later.

Itunes, Spotify, and similar music streaming apps could be cancelled or paused until lockdown is over as we’re at home, put YouTube on for the tunes and save some money.

Lower your auto premium-

When an auto insurance company calculates your premium, one of the factors it considers is how much you’ll be driving the car. The longer the commute, the higher the risk of the accident, thus the higher your premium. If you’re working from home, there isn’t a commute. 

Contact your insurance company or visit its website to see if you can make the adjustment yourself. How much you’ll save will depend on a variety of factors, and you’ll have to switch back once you start heading out to work again.

Stop non-essential spending-

As we all spend most of our time at home, streaming services, takeaways and bored online shopping can leave expenses shatter if left unchecked.

It’s about not adding additional expenditure to your budget and redirecting funds to new and/or current essential items.

Before you buy anything right now, stop and think to yourself if it’s something you really need. While a treat is always nice, it sometimes doesn’t warrant the bill that comes with it.