With almost half the world’s population sitting in their home and many people being forced into temporary unemployment, now is as good a time as any to wonder how we can save money. In fact, since no one seems to know how long this pandemic will last, better plan savings while we have the time. Here are a few ideas to help us out in these strange days.
Look into Our Fixed Costs
When we budget, we usually tend to think about current purchases we can cut and others we can push back in time. But there is something easier to do which we tend to forget: look at our fix costs and see where we can save. They usually take the form of insurance, utilities and cable, to name only the most popular ones.
The easiest one, which involves a very low cost for continuous saving in the future, is how to save on your energy bill. This is something that is being talked about everywhere around the world these days. Not only will you be saving money by doing a few thermal renovations but you will also help the world by saving energy. How can you do it without entering into important renovations? You can start by using a sealant to stop the air leaks from your windows and doors. Just that simple action could save you 10% to 20% on your energy bills… forever!
Review Your Budget
According to a survey, 25% of the population would rather get a cavity filled than prepare a budget. So before sitting down to get into this with your loved one, better make sure you are both in a good mood. The good news (yes, there is one)? There are several apps on the market which can help you figure it out. Some of them even divide your expenses into categories so you’ll clearly see where your money goes each month.
Once you have it all in front of you, there’s a great chance that you’ll notice a few expenses which are totally useless like that monthly gym membership fee, a place you could swear you don’t even know where it is located, or the three payments for VOD platforms when you only watch one regularly. It’s incredible how many things we end up paying for no reason at all because we simply forget that the money is taken out of our bank account. If you only get rid of these while you’re in confinement, you can consider that you will have made good use of your time!