10 Ways to Financially Survive and Thrive During COVID-19
Coronavirus has hit the world hard and many people are feeling the effects of this global pandemic. This is why it is so important that you take steps to make the most of the situation, and look at what you can do to make improvements to your life as a result. Money is one of the biggest issues when it comes to dealing with this issue, and a lot of people are suffering financially as a result.
So, one of the best things you can do is to look at ways of being able to survive financially while we battle this crisis. There are plenty of things you can do that are going to help with this, and it is important to ensure you make the most of this right now. So, we’re going to examine 10 ways in which you are able to financially survive during this pandemic, and keep your head above water.
- Reduce Expenses
Looking at how you can reduce expenses is one of the best ways of saving money during COVID-19. You can do this by finding lower car insurance rates, reducing the cost of energy bills, and only buying what you really need when you go shopping.
- Get Better at Saving
You also need to make sure you get better at saving because this is something that you have to get right if you want to survive financially. Try to set aside a specific amount of money every week or month, and this will help you to organize your finances better. Saving is one of the hardest things you can do, but it’s essential for getting through this process, so you need to make the most of it.
- Make Use of Government Aid
There is plenty of government aid out there that the state has used to help those struggling during this pandemic. And you should make use of this because it’s a good way of being able to stay financially solvent during this crisis. Speak to a financial advisor, or research online to find out more about this.
- Generate Extra Revenue However You Can
One of the best things you can do to get a little more financially comfortable is to look at generating extra revenue. There are a lot of things you can do to achieve this, and it is so important to get this right as much as possible. You can find online jobs or sell unwanted possessions to raise a little more cash.
- Spend More Time at Home
An advantage of lockdown is that it is forcing us to spend more time at home, and this is a blessing in disguise. It has shown us the value of spending more time together as a family, and it has meant saving money by not going out. Spending more time in and around the home as a family is a great way of being able to ease the burden on your bank balance.
- Perfect Your Culinary Skills
Now that lockdown is lifted and restaurants are opening it will be tempting to go out and spend more money. But, you can reduce the risk of this by making sure you perfect your culinary skills as much as possible. Learn to cook more, and you will be well-placed to be able to make the most of this right now. By getting into the habit of eating in more, this will stand you in good stead for being more financially frugal in the future too.
- Cancel Subscriptions
Subscriptions are typically for small amounts of money, and ordinarily we wouldn’t even notice them. But, during this time when every penny counts, it is important to make sure you don’t have any additional outgoings, so cancel your subscriptions. Whether it’s Netflix or magazine subscriptions, make sure you cancel those non-essentials right now.
- Set Yourself Goals
You need to set yourself financial goals for the future that are going to give you something to aim at, and will make it much easier for you to stay financially comfortable during this pandemic. By writing things down and having some kind of structure in place, it makes it much easier to deal with and work toward.
- Delay Payments
Something else that has become more common in these past few months has been the move to delay payments that are owed as a way of saving money. Many businesses are getting behind this and allowing people to defer payments that are owed until a later date. This is certainly something to look into, and a great way of being able to help you out financially.
- Stay Active
Staying active is an amazing way of being able to improve your health and well-being, and this is important. You have to do what you can to keep fit and healthy, as this is going to improve your mental health, which is important for making good financial decisions. Furthermore, finding ways of keeping fit at home is going to save you money in the long run.
As you can see, there are a lot of things you need to keep in mind that are going to play a role in this, and it is important to make the most of this right now. Try to come up with ideas that are going to help you save more and get a better handle on your finances right now.