Many of us have been in quarantine for a while now and saving money is more important than ever. With over 20 million people filling for unemployment, now is the time to cut cost where we can and buckle down on spending. I am thankful to have a job in these uncertain times but I want to make sure I am prepared if a rainy day arises. Since being in isolation, I have found ways, both new and old for me to save money. Even after this is all said and done, I plan to continue on this path. I know it will be a challenge at times but if you stick to these 5 tips below, you are sure to save extra cash in no time just as I have.
Barter With Others
Bartering is the act of exchanging goods and services for other goods and services without using money. With many business unable to open or in furlough, now is the best time to consider bartering. Though we are unable to provide or receive many services as of now, such as hair salons, gyms and restaurants, their are many ways to provide services while in isolation. You can provide virtual personal training, financial advice, hair grooming tutorials or even private music lessons. By exchanging goods and services, you are allowed to save the money you would have spent on said things.
Buy in bulk/ Coupon
I must admit, until this pandemic, I never really purchased in bulk or used coupons that often for that matter. If their is one thing this has taught me it is saving money is very important. When everyone was hoarding toilet paper, I was stacking up on meat, can goods and cleaning supplies. In the beginning, I bought everything I could without considering the price. After spending more money than I should have, I decided to hold on to the coupons that came through the mail instead of throwing them away. I saved money by not only using coupons but also by buying in bulk.
If someone would I told me that I would be doing my own hair and nails right now, I wouldn’t have believed them but here we are today. I also cannot believe the things I could do myself when I put my mind to it. I have saved a lot of money since being in isolation by having no choice but to do my own hair, nails and facials. YouTube has become my best friend and even though my nails or even my hair is not perfect, it is far from bad and I don’t have many places to go right now to really, who cares if it wasn’t. Consider polishing you own nails, plucking your own brows are giving yourself a facial. You would be surprised in the things you can do yourself.
Cut Services You Don’t Need
Before this pandemic I wanted to find ways to reduce bills so I cut off my cable, ended my gym membership and got a cheaper cellphone plan. Now, I watch Netflix, workout at home and don’t really see a difference in service with my cellphone. This is a great way to save money during this time. Even if you can’t go without cable, you can get a cheaper plan. If you don’t want to workout at home, try a gym that is less expensive. Also, if your cellphone provider doesn’t have a plan that will save you money, consider changing companies. List all of your expenses and see where you can make cuts. Even if you save a little, every little bit counts.
Avoid Online Shopping
Let me be the first to say, this one has be the hardest for me to do. Being in isolation has me surfing the internet and looking for things I do not need. I have bought more lounge wear than you could imagine. Boxes have been coming to my house weekly so I had to put an end to it. I had to discipline myself to avoid online shopping all together unless they are things I really need. Buying what you need instead of what you want is key to saving money.