Money Saving Tips
With our world constantly changing, financial stability may seem uncertain. Here are some tips on how you can manage your budget and save during these difficult times.
- Manage your monthly auto-payments: Many services such as your gym membership have likely stopped charging their fees due to being temporarily closed. However, some services are still charging. Take a closer look at your monthly bills to see which memberships/services you can live without- you may be surprised to find things you’ve been paying for that you don’t actually use; stopping these expenses can save you plenty of money.
- Reflect on your expenses: This goes along with point number one: outside of the important utilities, what do you typically spend the most on per month? Do you find yourself online shopping for things you don’t need due to boredom, or are your grocery expenses higher than you’d like? Now is the time to go through your bank statements and reflect on every dollar you spend. Maybe not every food item you buy is necessary!
- Use free activities to better yourself: Instead of paying to download yet another movie or video game, try immersing yourself in self-improvement. There are so many free resources online (blogs, vlogs, etc.) that teach new skills: You may end up learning how to fix things around the house and save yourself the trouble and money of calling a professional.
- Free-lance with your skills: With the new skills you’re learning, make some money on the side! If you can craft clothes, pottery, or greeting cards (really anything) there are websites that allow you to open up your own online “shop”. If you want to share your skills, you can also sign up to be a paid tutor. Use of free online video-chat programs (e.g., Zoom) make distance-learning a possibility.
- Focus on how much you’re saving: This is a simple mental health tip: think about the money you’re saving just by being at home (gas for your car, tolls, etc.). There you go; Now doesn’t that make you feel better?