Monday, July 15, 2024
Business, Finance & Tech

The silver lining of COVID19 might be a pretty penny

Collaborative post

It seems the cost of living in a pandemic plagued world might be the glimmer of hope we all need to see amongst the chaos. It turns out that when we are forced to stay put at home, not only do we get bored and try some new things… but compassion abounds, and there are some fantastic deals on offer if you take the time to seek them out.

Here are a few penny-saving tips to get you started:

Review Your Rent

With job losses and uncertainty, many landlords are more than happy to ease the squeeze for good tenants by temporarily lowering the rent. This ensures them a stable rental income in a time of uncertainty rather than having a vacant property. Some landlords are also open to trading skills and services for all or part of their leasing fee. It is worth asking the question and seeing what your landlord might be open to.

Create from Scratch

Let’s face it, we are all a little bit bored. But being stuck at home doesn’t have to spiral you into boredom oblivion. Lot’s of us are making the most of this uncharted spare time by trying our hand at some new tricks. DIYing and cooking from scratch are a couple of great ways to learn some new skills and save a few dollars.

Hunt for Offers

With so many people seeking new ideas and experiences, there is an abundance of great offers on the table if you seek them out. From discounted magazine subscriptions to reduced learning tools for school-aged kids, you can definitely be saving on your entertainment costs. Make the most of free trials and don’t be afraid to cancel a subscription once you’ve used what you want, and move onto the next platform.

Can the Car or Caravan

You’re not going anywhere. So why are you still paying to keep your car, bike, or caravan on the road? If you find that your vehicles are stealing a chunk of your money each month, consider whether you need to be paying for them to be on the road. You can also look into whether you can reduce the costs involved with vehicles by exploring ways to make insurance cheaper or bring loan repayments to a minimum.

Consciously Pocket the Savings

 All these savings will be for naught if you aren’t consciously putting the pennies aside for later. Having an automatic debit that transfers your extra cash into a separate account is a great way to keep it out of sight and out of mind. If your income has dropped thanks to reduced hours or being let go, then these tips are a great way to ease the burden.

Whether it’s paying down your mortgage or just stashing away some dollars for a rainy day, there are definitely ways to line your pockets a little, thanks to COVID19. Don’t be afraid to ask the question and explore the possibilities – a little saving here and there can equal a lot at the end of the day.

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