Want to Save More During the Crisis? These Are the Expenses You Should Give up ASAP
Due to the aftermath of the coronavirus pandemic, the economy has reportedly gone into a recession. That, paired with the sudden rise in unemployment, should certainly be a warning sign for people to start getting their finances together.
Saving is one way to give oneself a financial cushion for the potential harder times ahead. People can put this habit into action by cutting back on their non-essential spending starting with these expenses.
The past years saw the rise in popularity of subscription boxes be it for beauty products or specialty coffee. Unfortunately, times like these call for the sacrifice of certain treats these boxes of goodies included.
Remember that one might not be needing the contents of these boxes (makeup and the like) anyway given the stay-at-home order currently in place. There’s also the fact that social life remains to be on hold for the foreseeable future.
Being stuck at home can sometimes trigger the urge to just order take out instead of whipping up a meal. While this may relieve stress and keep one’s stomach happy, this habit can put a dent into a person’s food budget.
Instead of getting fast food, start meal prepping. Cooking a large batch of food in one go means not spending time in the kitchen for breakfast, lunch, and dinner, day in and day out.
Going this route would cost less than getting food delivered regularly. In the end, seemingly small savings of $30 or $40 could easily add up to a significant amount.
With a lot of people working from home, one would really have no need for buying new clothes even though it’s tempting to shop for them online while bored. A lot of working individuals are probably in their loungewear or athleisure wear at the moment.
Instead of adding clothes to one’s closet, they can take pieces they no longer wear or want and list them for sale online. This could mean some extra cash to put towards saving more.
Online Shopping Sprees
With Amazon still delivering during the pandemic, it can be tempting to carry one’s online shopping habit. To avoid spending money on non-essential items, always wait a few days to check out after putting items in one’s cart.
This way one could really see whether they need a product or not.
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