Budgeting Tips To Survive Coronavirus Lockdown

We have never, ever experienced an economy like the one we are experiencing right now. We are just a month or so into a pandemic, and millions are losing their jobs. Other people simply are not working enough, and thus have less money available to them. While we can’t necessarily help you to make more money here, we can give you a couple of tips to ensure that the money you have will stretch a little bit further.

Let’s start by actually making a budget. Just a list of the money you have (plus limited money coming in), and a list of your outgoings will be good here. So, make a note of all of your bills. Yes. It is going to be scary looking at all of those bills, but that is fine. The stress will (hopefully) alleviate itself a little soon. This is because you are going to want to order the bills in terms of importance. So rent, water, electricity etc. Will probably be at the top. However, also bear in mind how much a bill is.

Now, hopefully, your incoming cash is going to outweigh the bills. If it doesn’t, then check out the websites for the people you owe cash too. Some of them having processes in place for those impacted by the Coronavirus. You can, of course, give these people a call to see if they can help you to reduce your bills for the immediate future. They may not be able to, but it is always worth asking!

There are some bills you will probably be able to cut back on during the lockdown e.g. you won’t be driving anywhere near as much, so fuel goes down. You may not need to get on public transport etc. Savings can be made there. If you do go out, then keep those trips down to the minimum.

When it comes to food, perhaps the best option is to start cooking meals from scratch. It is more time consuming, but you will probably have a few extra hours to spare during the lockdown. Not only will things be cheaper, but you will be eating healthier, and learning a few new skills at the same time.

Also during this time, it's difficult to connect with friends and family, and there are times where one might need to send funds for an emergency. Here is a list of apps that can help you with transferring funds while social distancing. It's a list of tools anyone can use to help make life easier during these difficult times of separation.

Check it out here!!

Remember; as bad as your finances may seem right now, this is something that you are going to get through. A lot of people are in the same position. Make sure you help by staying inside and not allowing this devastating disease to spread any further. The more you do, the quicker everything is over.