As of April 2020, over 2 million people worldwide have already been affected by the new coronavirus disease 2019, also known as COVID-19. People from all over the world are dealing with nationwide lockdowns, community quarantine protocols, and other rules set in place to prevent the spread of the disease.
Luckily for US residents, the Treasury Department has already begun sending out stimulus checks to help people manage during these difficult times. However, that doesn’t mean you should spend all your money without care for the future. Here are 4 simple ways to save money during a pandemic!
Getting stuck at home due to community quarantine may be the perfect time for you to sort through all your subscriptions and check which ones you don’t need anymore. Researchers are expecting that the outbreak may last for a few more months, so think of all the services that you won’t be able to avail of during that time. It helps if you can take a look at your bank statements to pick out any recurring payments.
For instance, if you have a gym membership, you may want to cancel it now since you’re not sure anyway when you’ll be coming back. You can also cancel things like meal subscription boxes or clothing subscription boxes. After all, you don’t really need them right now, do you?
Another way to save money during a pandemic is to call your insurance providers to see if you can get a discount. This is very applicable for car insurance, especially if your office has switched to a work-from-home setup. Since many people are no longer using their cars, there’s little to no risk of getting into an accident, which means insurance companies are more lenient in giving discounts right now.
Try to contact your provider if they can offer you any discounts at the moment. Of course, the discount would likely be only temporary, but it can still help you save money until you get back to the office.
Actually, this advice rings true even without a pandemic looming. If you know you’re going to be using up a lot of a certain product, it makes sense to buy the bigger packs and avail bulk discounts. Think “Buy 2 Take 1” and “Get 25% off on the 2nd bottle” promos. Buying groceries in bulk is not only more cost-effective, but it also takes less effort since you’ll have to go out fewer times in a month, which also means helps you can abide by the social distancing rules better.
However, do keep in mind that we don’t advocate panic-buying. Only buy food that you know you can actually eat in a specific period of time. Also, never hoard products since other people may need them too.
If you don’t know how to cook yet, now’s the best time to learn how! It may not seem like much, but getting takeout often can add up a lot – fast. One moment you’re eating ‘cheap’ takeout, the next you’re wondering where you just spent that missing $700 last week.
To avoid this situation, you should try spending more time in the kitchen. It’s always much cheaper to cook your own food and most of the time, more delicious too. Sure, if you’re just starting out, you may need a lot of time to practice making your favorite dishes. But trust us, a tasty home-cooked meal is worth all the time and effort!