The pandemic is hitting us all hard in many ways. One way in which people are suffering and struggling is money. A lot of people are earning less right now and even those of us who are in seemingly stable positions are still hoping to save - just in case our income does reduce going forward. Countless people have started to struggle financially entirely unexpectedly. So few of us feel completely safe. Now, there are ways to manage your finances and save money during this pandemic. Follow some of the advice below and you should be able to keep your head above water.
Knowing Your Employment Rights
The main reason that people seem to be experiencing financial difficulty throughout this pandemic is that they have lost their jobs completely, they have been made redundant, their working hours have been reduced, or they’ve been asked to accept a lower salary for the work they usually do. It’s important that you are familiar with your employment rights in these situations so that you’re not taken advantage of by your employer and to ensure that you are getting the money you should be. A labour lawyer will be able to make sure that your employer has acted in an acceptable manner and that you are receiving the salary or payouts you are entitled to and owed.
Saving On Your Bills
Next, you need to manage the money that you do have available to you as best possible. This will reduce misspending and ensure you have as much disposable income available as you can muster up. The first area you can start saving large amounts of money are your bills. A lot of bills are essential. You can’t get by without food, water or energy. But you can save by reducing the amount that you use these resources or you can save by using different sellers and providers. Start with your electricity and gas. Reduce your usage by turning lights off in rooms you’re not using, turning the heating off while you’re out of the house and turning your hot water off when you’re out of the house. Then compare providers to see if anyone else is offering lower cost deals. Don’t be afraid to switch if you find a cheaper provider!
Saving on Food and Drink
Food and drink is another expense that you do need in your life and you shouldn’t try to reduce consumption to cut costs in this area. However, you can generally save in this area by shopping smartly! If you buy convenience food, fast food or takeaways, cut these out in favour of lower cost home cooked meals. Next, make sure to replace branded foods with supermarket own brand or unbranded alternatives. Half the time, people can’t even tell the difference in taste tests.
Following these steps could really help you to manage your finances and save throughout this pandemic. Incorporate them into your lifestyle and routine and you should start to benefit sooner rather than later!
CANDY TAI is a wife to David and mom of 5 with a degree in Communications. She's a native Texan (Hook 'Em Horns!) who's been making her home in the Kansas City metro area for nearly 15 years. She loves being able to shuffle her kids from their various sports activities, piano lessons, and school activities. She enjoys fashion, beauty, reality TV, and moviegoing.