Written by: Kaleido
In this time of financial uncertainty, when many are facing temporary layoffs or reduced income due to the COVID-19 economic slowdown, we thought we would share some tips to help you save and optimize your budget.
It might be time to review your various memberships and subscriptions to cancel or suspend the unessential during this period. If you have a gym membership, a subscription to a streaming service (Spotify, Netflix, etc.), or a monthly subscription box; you can suspend those that aren’t necessary.
There are several ways to shrink your grocery bill, especially with more time to plan and cook. Preparing your own meals using basic ingredients is very cost efficient. Why not take this opportunity to learn how to bake your own bread or make homemade pizza dough?
It can also be the occasion to reduce your meat consumption and discover alternative sources of protein, such as legumes. They are much less expensive than meat and quite healthy!
Before you go shopping, make sure you plan your meals well and take stock of what’s left in your pantry. This will avoid impulsive or unnecessary purchases. Your freezer might also be filled with fruits and vegetables, prepared meals or meat. You’d be surprised to see what you can cook up with the forgotten treasures buried in your freezer.
Try not to buy in bulk too much, this will avoid straining your budget and wasting food.
Take advantage of this time to do some work around the house yourself. Save money and turn this activity into quality time with your eldest while leaning some useful skills together! The Internet is full of tutorials on countless subjects: painting, car maintenance, filing your tax return, mending clothes, etc.
When was the last time your had a serious look at your cell phone plan or home insurance policy? Now might be the perfect time to have a closer look at your bill to see if you’re paying for unnecessary features and switch to a cheaper plan. You can also check out at what the competition has to offer or negotiate with your current service provider. We rarely take the time to this, but this simple task can save you a lot of money.
You’ve chosen to give up Netflix and are now wondering how you’re going to spend your days. Don’t panic! There are many ways to have fun for free without leaving your home:
The current situation can be daunting and cause insecurities, but it can also be an opportunity to smarten your personal finances, learn new things, have fun differently and perhaps, to slow down and remember what really matters.
Do you have any other tips? We invite you to share them with our community in the comments section of this article!