One of the many aspects of our lives that has been affected by COVID-19 are our expenses. While staying home has allowed us to save more money by cutting down on transportation or eating out, it’s also meant managing a tighter budget for most people—especially as businesses struggle to stay open and unemployment figures continue to rise day by day.
Fortunately, there are so many resources on the internet that are made to help you save more money and build up emergency funds or investments. Here are some of them:
Cut down on spending
Making impulse purchases may have sounded like a good idea during the first few weeks of the quarantine, but it’s time to start re-learning (or adopting) smarter spending habits now that we’re a few months into the lockdown.
Keep track of your expenses
After cutting down on your impulsive spending habits, it’s time to figure out where you want your expenses to go. Whether it’s investing more money on your health or saving up for a trip you want to go on after the pandemic is over, here are some tips to help you get started on your budget.
Grow those savings
Now that you’ve developed better spending habits, what should you do with the extra money you have now? Start considering ways to help that amount grow, of course. Some tips include asking your bank about investment options or looking at other avenues for money-making
Header photo by Michael Longmire on Unsplash
Get more stories like this by subscribing to our weekly newsletter here.
Writer: NOLISOLI.PH TEAM
