An increasing percentage of Americans are out of jobs, with restaurants, grocery stores, and other non-essential businesses closed due to the coronavirus pandemic. Recently, the number of unemployment claimants in the U.S. exceeded 16 million. If you're losing paychecks, reevaluating your budget might be important and searching for ways to free up some extra cash.
Here are three easy ways to save money right now from Ameca L Cooley. She is a Financial Advisor and an International speaker, speaks Internationally on Finance, business development, and growth.
- Cancel subscriptions that you do not require - Canceling monthly subscriptions, such as streaming services, meal delivery boxes, or iCloud storage, is a convenient way to bring more cash back into your pocket. "It could be YouTube Premium, Spotify, Audible, Amazon Prime, Netflix." Look at any recurring charges you have on your credit card. Are you using all this stuff that you paid for? Are there some that these days you do not need as much? You don't have to scratch all of them but if you pay for three separate video streaming services, keep one of the two platforms that you use the most and remove the other two. It doesn't have to be permanent to remove these costs, but might in the meantime free up some much-needed cash.
- Find Ways To Cut Costs Right Now - Food may be your biggest monthly cost, apart from housing and transportation. The good news for your wallet is that right now you don't have the option to overspend at bars and restaurants. But if you do find yourself ordering takeout often, consider cutting back and making more meals at home, The tips and delivery fees really add up quickly, on top of the fact that the food in the restaurant costs a lot more than food in the grocery store. Keep things low-cost when it comes to grocery shopping by being careful of what you put in your cart. Make a list of the ingredients you'll need once you've planned out what you're going to cook for the week. Then, stick to the list while you're actually shopping and stop impulse buys. Through websites like Udemy, you can create your own course on a topic that you’re passionate about. Whenever someone purchases your class, you earn money! Sign up at Udemy.com to get started.
- Find ways to increase your income - The truth is that how much you can make is not limited. While certain opportunities to raise your income have been reduced by the pandemic. There are ways you can earn more. You can run a side hustle that is still permitted and secure in your city if you have the time, resources, and health. For investments, paying off loans, or other needs, you can use the extra money. This isn't just about the money you're saving. You do have to make it after all before you can save it. Find creative ways during the pandemic to make some extra cash. Run deliveries for neighbors who currently may not be able to go outside. Give the facilities you need for yard work. And still supporting others, you will gain a little money. And with all of your indoor time, take a peek at the cellars and closet.
Take these steps during the coronavirus pandemic so that you will have peace of mind. Along the way, share the process with others so that during this crisis, they can experience financial peace as well. After the coronavirus pandemic ends, make sure you should give priority to your emergency fund and savings so that when any disaster strikes, you won’t be left wondering that when your next income will reach you. To know more about financial management, visit - Ameca Cooley
No comments:
Post a Comment