Alas, we’re in another lockdown and I’m probably not alone in thinking that this year has been pretty rubbish. Not to say that it hasn’t been productive because I’ve still managed to make a sizeable improvement in many aspects of my life, both work and personal. I’ve managed to reach over 100K on Tiktok, nearly 5K on Instagram and managed to get my second blog Tilly&Rouge finally up and running. In my personal life, we’ve got our first home on the market and hoping to move out of London by the start of 2021. So although I said it’s been pretty rubbish due to COVID, we’ve still managed to achieve a lot. Saving money is also something we’ve managed to do pretty successfully too. Here are some tips to save money during lockdown.
*This is a collaborative post. Image Source.
Take A Look At Your Expenditures
This is probably the most cost-effective way of saving money because it’s essential you know what’s going out when it comes to your expenditures. By tracking it all, you can make the right cuts where necessary in order to save you money. You might have particular outgoings that you didn’t even realise existed up until this point. The more you can cut and reduce, the more you’re going to save and is there really going to be another opportunity like this where you’re not going anywhere and therefore, have very little to spend? You might be able to get cheap temporary car insurance due to not using your car as much or a reduction in your utility bills by switching to new providers.
Pay Off Any Debt You Have
Debt is something everyone will accrue from time to time but it’s important to pay it off as and when you can. There’s no real benefit to holding on to debt for too long as it’s only going to blur the money you have available in reality to what you think you have. Use this time to pay off any debt that you have sooner, rather than later.
Stop & Think Before You Buy
A lot of purchases we make are done on impulse and not necessarily thought out. When it comes to buying something new, it’s worth thinking about what it is you want to buy and whether it’s actually needed. Some of these purchases might be needed for improving the quality of your life. Some might only provide a temporary want and therefore, might not worth the investment. Think before you buy and perhaps have some questions to answer before you commit to the purchase, whatever it may be.
Have Some Savings Goals
Savings goals are important because they help to motivate you when you’re feeling in a spending mood. I get it, I feel like that sometimes and sometimes I will give into it. It’s only right to treat yourself to something every now and then but financial goals can help you keep on the straight and narrow. Consider what you want to achieve in life, whether it’s saving for a holiday once this is all over, contributing to your wedding or moving house. It’s good to have a range of financial goals and savings pots in order for your money to go further.
What tips do you have to save money during lockdown? Let me know in the comments below.
*Disclaimer – This is a collaborative post. All words are my own.
