How to Cut Back on Expenses During Coronavirus

How do you save big on a small budget? Cut your spending. When you are able to limit your expenses into essentials, you get to save more and pay yourself first even during the pandemic. Below are some effective ways to cut back on your expenses and increase savings.

  1. Get crafting.

With more time at home, there is no excuse not to take on a couple of DIY projects. Making your own face mask using items you already have around the house is a good start. Check out Pinterest and find inspiration. It is nothing short of a miracle for DIYers.

  1. Organize your closet and sell items you do not wear.

Suddenly, everyone had the time to clean their closet during this pandemic. But do not stop there. You could sell the items that you never wear and earn extra cash! If you are feeling inspired, you can go room by room around your home, get deep cleaning, and host a garage sale or sell your items to a consignment store.

  1. Write grocery lists.

There are two advantages to grocery lists. One, you spend minimal time outside and at risk for the coronavirus, and two, you can stick to your budget. Pre-plan what you need for a week or two and write them down. All you need to do at the store is go down your list and pick up the items and done!

  1. Cook more at home.

The stay-at-home orders have probably forced you to make more meals at home. That is a good thing! Eating out seriously drains your budget. When you cook more at home, you know what goes into your food and get more plates for a fraction of the price.

  1. Set a shopping limit.

How much online shopping have you done since the lockdowns started? You might want to keep it in check. Buying things on impulse will damage your budget and stop you from spending your money on essentials. Always give yourself at least 48 hours before deciding to press that ‘Add to Cart’ button. Sticking to buying needs at this time will sure keep your pocket healthy.

Ian Schindler