How to save money during quarantine
Updated: Oct 23
With the unemployment rate at record levels and consumer income dropping, there are many reasons to save your money and make sure you are financially safe through this global crisis. Whether you lost your job, are getting paid less, or unaffected, we’ve listed a few ways to be financially responsible during these uncertain times. Don’t order takeout as much
Before the crisis started, Americans spent almost $37/person on average when dining out or getting delivery (according to a Zagat survey). That means that you could save up to $200 per week by eating in! While shopping at the grocery store, fill up on items that make great meals but don’t break the bank. Grocery stores always have good deals to choose from and you can always rely on affordable staples like rice, vegetables, chicken, and pasta.
Cancel unused subscriptions
It’s easy to lose track of all of the monthly services you subscribe to. Whether it’s a streaming service, food delivery, or fitness, be sure to cancel any that you are not using regularly. Be sure to check your credit card statements or bank statements to see what recurring payments you are making that are not worth keeping around.
Look for coupons
When shopping for necessities, look for coupons in newspapers or online using companies like Honey, which will search the internet for coupons on the site you are shopping on. It’s also a good idea to see if the stores you go to frequently have a loyalty program. Many times grocery stores, retail stores, and services offer great discounts when you join their programs.
Small savings here and there can add up to hundreds and even thousands of dollars every month and year. If you are conscious about your spending and shop smart, you’ll be better off if money becomes tight at any point during the current crisis.
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