5 Great Tips for Saving Money During the COVID-19 Pandemic

Whether you’re out of work and struggling to pay rent or you’re able to still work full-time from home, the coronavirus has certainly affected us all. Hopefully things will return to normal soon — but it could be while.

In the meantime, it’s imperative that you’re doing everything you can to keep your finances in order and save money.

Here are some great tips for saving a few bucks during the COVID-19 pandemic:

• Cancel as much as you can. Whether you’re out of work or not, you might as well take some time to think about all the subscriptions and memberships that you’re paying for. Though they might only be a few bucks here and there, those expenses add up. You need to save money during this quarantine, not spend money on unnecessary magazine subscriptions, gym memberships, and other unnecessary items.
• Call your insurance and cell phone providers. It’s a great idea to shop around for insurance and cell phone providers every year — especially during a global pandemic. If you’re spending way too much on monthly cell phone bills or auto insurance, try and see if there are better deals out there. You’ll likely be able to find something much better or at least bring your current prices down after threatening to switch providers.
• Install sustainable thermostats. Sustainable regulators like ecobee thermostats can actually pay for themselves in under two years by keeping energy use low when you’re not home.
• Start cooking for yourself. If you don’t know what you’re doing in a kitchen, now is the perfect time to learn! Not only is cooking fun and much easier than it looks, but it can also help you save a ton of money. Ordering out every night can cost a fortune. Instead, start buying some stuff to cook with and start meal prepping each week. You’ll probably end up eating much healthier and you’ll certainly save some cash each week.
• Reach out to your landlord or lender. If you’re in serious financial trouble and are worried about paying rent this month or next month, reach out and see if they can help. They might not be able to do anything for you — but it’s worth trying. There are plenty of landlords across the country that are delaying rent or waiving it entirely. You might be able to arrange a payment plan, as well.

Everyone should be pinching their pennies right now, no matter their financial situation. There is so much uncertainty in the world right now so make sure you’re doing all you can to save money. If you’re smart with your cash now, you’ll be in good standing once the world returns to normal.

Photo Credit: kanijoman