The unbelievably easy way to survive financial uncertainty
In the covid 19 predicament the world has found themselves in…the typical order of life has drastically transformed our way of living. Many households are feeling the Financial uncertainty crisis.This is for the most part true if you or someone you know has had their wages altered in some way. Your income will not be the same. Financial uncertainty is real and it will be up to you to find ways to accommodate those changes.
With an already key fundamental low cost game plan in place. What you will need is a more resourceful way to get the job done. Curtail those expenses. The in your face pandemic way. The I have my boxing gloves on coronavirus way!!
1. Lower Your Car Insurance
Based solely on your insurance company, major noteworthy reductions are very well possible. Consider a usage-based driving program. Your insurance premium can be recalculated by lowering your mileage which can also be a major deduction.
2. Plan Your Meal
The forethought of what you may want to consume in a weeklong list of foods is something to be looked at and can lend a hand to your newly revised finances. Aside from giving you an estimate of what you will need to spend…it will keep you on track with your expenses. It will also allow you to buy only what is on the list…no impulse buying!! Diminishes the urge to splurge on unnecessary food. I’ve worked with a limited budget before and planning my meals was a necessity and proved very valuable when cutting back on expenses. In times of hardship you’d be amazed on how creative one can be. And on another note…restricting the amount of times you go to the grocery store helps you carry out the social distancing expectations. ‘Kill two birds with one stone!’ Try and shop for up to two weeks if possible.
3. Keep Fit for Free
Many if not all of the gyms have suspended membership fees. Hopefully a gym membership is something you have had pre covid 19? Maintaining a fitness routine is essential for your mental health as well as your physical health especially in these trying times…so don’t stop exercising!! Make use of , take advantage of your natural surroundings…go for a walk, find a park or walking trail that is not being utilized or find a time like early morning that will be useful to you for social distancing. And if outside exercising is not you, for free fitness apps and or free trials for a limited time. Jump over to my resources page and download a workout printable!
4. Take Advantage of the Aid Programs in The Era of Financial Uncertainty
State and government have programs that are offered, take advantage of them. Loans for students are eligible for deferments. Persons in most states are eligible for an additional $600 per week for each claimed week of unemployment benefits. Medicaid benefits for those who have lost or have reduced hours and last but not least, food pantries are an excellent option for those on a restricted or non existent food budget. Take advantage of federal and state programs.
5. Order Food Directly From the Restaurant
Food delivery services have seen a boom in recent times but with that said and delivery charges can be anywhere up to 18%. If you must order food, do so directly from the restaurant…it will save you money.
6. Talk to Your Landlord/Mortgage Company
Communication is the best tool during this time of uncertainty. Believe it or not everyone is feeling the pinch including landlords. If paying your rent has its challenges right now…reach out to your Landlord, I’m sure they will understand. The company may be able to assist on some level, if nothing else not charge late fees. Whether it is a company or an individual person, due to the pandemic, evictions can’t happen. But communicate…don’t wait!!
7. Do You Really Need Those Subscription Services In This Season of Financial Uncertainty?
Cable and satellite subscriptions can be pricey but another way to watch great movies and don’t forget those awesome series, is through streaming devices and services. The only other thing needed is an internet connection by the way. Spend some time comparing prices and what channels you are more likely to watch and go from there. Be mindful that fees will add up…set a budget of what you can afford to allocate for this expense. A few more common examples would be Netflix, Youtube, Prime and Sling but also think about those free channels that offer a way for you to catch up on those movies you just never had the time to watch in the past; Vudu, Crackle, and Roku channel are some just to name a few…check them out, see what you think!
8. Maintain Your Car
For those who are not mechanically inclined like myself, this is a time to look outside one’s box…car maintenance. Youtube is a very beneficial avenue for someone looking to learn something new. Basic car maintenance guys!! Replacing windshield wipers, headlights and even an oil change is something that can be done in the garage and or driveway of your home. Ultimately, this is a great way to save much needed dollars!! Who knows, after this crisis is over…you may want to continue servicing your own vehicle on a regular basis.
9. Contact Your Credit Card Company
I’ll touch a little bit on this…again communication is the key to staying on top of your finances. Like with your rent and or mortgage payments, communicating with your respective entity is key. The majority of the credit card companies have the power to suspend payments for the time being…reach out to them if you have not. They may also be able to reduce payments as well. Something to think about.
Here you go…I really hope this will help you get going with reconsidering what to buy, what you need versus what you want and mainly just giving you a different way to look at your expenses.
These are trying times we find ourselves in…staying positive, keeping in touch with loved ones and even going down memory lane should be done often…stay safe my friends.
Be blessed…Stay Safe!