It is no secret that we are living in complex times. The health crisis caused by the Coronavirus COVID-19 has collateral impacts that go beyond health, and one of them is the economy.
With cities completely or partially paralyzed around the world, signs of not-so-good times for the economy are already beginning to be seen, and most (if not all) economists predict a recession.
It is because of the not-so-promising future that lies ahead that saving is more important today than ever. Unforeseen events are more plausible on occasions like these, and good finances must be able to withstand a blow, which is why saving is essential! And it may seem difficult to save during these times, but here are some tips that will surely help you create the financial cushion you need.
Take advantage of the advantages of teleworking
Given the conditions we find ourselves in, teleworking has become increasingly common. The authorities have recommended applying this type of work, and many companies have put it into practice. This can benefit your finances… If you know how to approach it. Without having to pay for tickets or food outside, you generate a surplus, which increases if you live as a couple or have children... Save it!
Make a weekly menu
If you plan ahead, you can make more precise purchases tailored to your weekly needs, without overspending, which will generate savings.
Be efficient in the consumption of your electronic devices
You will spend a lot of time at home, which will consequently increase your electricity bill. You can minimize this increase by making proper use of your electronic devices. A first point is to use LED or low consumption light bulbs. Another measure that can help you is to avoid phantom consumption, that is, consumption that goes unnoticed when you leave your television or music system, for example, in sleep mode. Unplugging them would help you reduce your electricity bill.
