The current pandemic, Coronavirus, has created an unimaginable mess for many of us. Little or no profit in businesses has forced employers to let go many or even all of their employees.
While there are still savings and government aid to help ease the financial burden of living costs, we often feel it’s not enough and many of us end up borrowing money from financial institutions hoping this loan can be quickly paid off when we go back to ‘normal’.
If it’s possible, don’t borrow at all and adjust the living expenses to whatever available income at the moment.
Here are 7 frugal living tips during Coronavirus lockdown:
1. Be Conscious of Food
Just because you’re home all the time, doesn’t mean you should be snacking all the time, too. Not only it creates unnecessary spending, but excessive snacking also leads to an unhealthy weight, which in the end, creates avoidable diseases.
2. Cancel All Unused Subscription
Cut all unused subscriptions and ask for a refund if you’ve already paid it yearly, including those that are not usable due to the lockdown restriction such as gym, swimming pool, tennis court, etc.
3. Select the Right Internet Plan
During the lockdown, those of us who have to work from home or stay at home being unemployed would often go to use the internet for working, finding a new job, reading, learning, watching movies, or just randomly browsing with no particular purpose. This means it’s better to go for the unlimited option than speculating that you’d use just, for instance, 80 Gb per month and then end up paying the penalty rates which is most likely higher than the unlimited option.
4. Select the Right Mobile Phone/Cell Phone Plan
Again, during the lockdown, we are most likely to communicate with those who don’t live with us via an app that is run on the internet. This means those who communicate via the internet should always choose the cheapest plan available to avoid unnecessary wastage.
5. Select the Right Car Insurance
During the lockdown, you’re likely to stay at home and your car just sits in the garage. Unless you’re renting your car out, rather than paying yearly, see if you can get a pay-as-you-go or monthly car insurance.
6. Watch Out for Energy Consumption
To those who are unemployed and haven’t been able to find a new job, staying at home doesn’t mean turning all the lights on and watching TV all day. Try to be conscious of how you consume gas and/or electricity. If it’s winter time, put some more clothes on to avoid having to turn on the heater for a long time.
7. Avoid Temptation
When you mindlessly browse a shopping website and you see the latest iPhone for a relatively ‘cheap’ price, you may be tempted to buy it, thinking it’s a now-or-never deal. You may even tell yourself that you ‘need’ it. Here is a post to help you tell the difference between your wants and needs.
I hope this Coronavirus goes away soon and you all stay safe and healthy. Please share any frugal living tips you have in mind in the comment down below.
