If you’re looking for ways to save money during the COVID-19 lockdown and you don’t know where to begin then don’t worry, you have definitely come to the right place. Whether you’ve had a drop in income or you’re looking to prepare for your future, you need to ensure you’re doing all that you can to look after yourself financially. Whilst it may be overwhelming at first, there are lots of things you can do to make it as easy as possible. From avoiding unnecessary purchases to planning out your grocery shopping in advance, the more you’re doing the better. With that in mind, here are 9 ways to save money during a lockdown:
Make Sure You’re Putting Back As Much Disposable Income As You Can
One of the best things you can do when it comes to saving money during the COVID-19 lockdown is to ensure you’re putting back as much of your disposable income as you can. Although this may not be as much as you’re used to, any money that you have available to save should be going into a savings account in order to protect your future. With no indication of what the future may hold, the more prepared you are the better. For a guide to working out your disposable income, you can visit this site here.
Avoid Unnecessary Purchases
Although it may be hard during this difficult time, you need to ensure you’re doing all that you can to avoid unnecessary purchases. From lockdown clothes to buying things to redecorate the rooms in your house, it’s important to think about whether or not it’s something you really need. If it can wait, it probably should.
Plan Out Your Grocery Shopping In Advance
If you want to cut down when it comes to your grocery shopping, planning what you’re going to eat in advance is a great way to ensure you’re not buying more than you need. By putting together a plan for your meals for the week, including what days you’re going to be eating them, you can ensure you buy food that’s not going to go to waste. For tips and tricks when it comes to putting together a weekly grocery list, you can visit this site here.
Consider Cutting Down On Subscriptions
For those of you that are subscribed to various different subscriptions, now is the time to start cutting them down. Whether this means cancelling your Amazon Prime account or saying goodbye to Netflix, you really don’t need to be subscribed to absolutely everything. If you have a lot of time on your hands and you’re using subscriptions to pass the time, you may want to consider which ones are most important to you.
Buy Food In Bulk And Invest In A Chest Freezer
If you don’t want to plan your meals out each and every week, you may want to consider buying in bulk instead. Although you will initially need to invest in a chest freezer to be able to do this, filling your freezer once a month is a great way to ensure you’re getting as much food as you can at a low cost. Although you may not necessarily know what meals you’re going to be eating each day, you will have plenty of options to choose from.
If possible, try to reduce the number of times you’re going to the store for fresh ingredients. A small shop can often turn into a lot more.
Batch Cook Your Meals
Another similar approach to saving money during the COVID-10 lockdown is to batch cook your meals in advance. By bulk buying a number of ingredients you can make several meals at once, freezing them to use over the coming weeks. Not only does this cut down on food waste, but it also gives you the opportunity to be a little healthier.
If you are going to be batch cooking, you need to be sure you have lots of food containers available to fill. You’re going to need something that will stay secure in your freezer.
Apply For Mortgage And Rent Payment Holidays If Needed
If you have found yourself with less income than you’re used to, you may want to consider asking your mortgage company or estate agents for a payment holiday. Although this is not guaranteed for every case, a payment holiday will give you a chance to focus on the bills that are not allowing you to pause. If you don’t need a payment holiday, it’s important you don’t take one just because you can.
Consider Investing To Help Provide For Your Future
If you want to start thinking about your future and what will happen post-COVID, you may want to think about the long-term ways in which you can earn money. A great example of that, of course, is to invest. If you are interested in investing, here are some cool trading apps.
Talk To Your Utility Providers
Finally, if you’re struggling to pay all of your bills and you think you’d benefit from a break, you need to contact your utility providers. Although they may not be able to offer you a full payment holiday, they may be able to reduce the amount you’re paying for your bills during this time. For example, if you’re not watching the sports channels that you’ve paid for due to cancellations, you may be able to get this part of your TV and Internet bill cancelled for the time being. Similarly, if you’re not using your mobile phone data because you’re connected to the WiFi, this may be something you’re able to refund. If you’re unsure, it’s always worth calling to ask what your options are.
With lots of different options available, you can ensure you’re doing all that you can to save money during this difficult time. Did we miss anything off of the list? What are you doing to save money? Let us know your thoughts and ideas in the comments section below.
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