The ability to save is always useful, and in times of crisis, these tips become especially necessary and useful. This article is for those who need real recommendations on how to survive the crisis here and now. If you follow a few simple rules, you can immediately start saving with the help of competent budget allocation and cashback purchases.
Control of income and expenses
Proper family budget management is the basis of savings. You can have a special notebook, a table on your computer or download a mobile application. You need to record all expenses, only in this way you can analyze the situation and understand how to save and on what. The main thing is to make sure that incomes are always higher than expenses, and if possible, try to save as much as 10-15% so that in the future you can create a reserve fund in case of unforeseen situations.
Opt out of unnecessary purchases
Now, under quarantine conditions, people often panic, acquiring a huge amount of goods, which in theory can soon go up in price. Do not forget that in a crisis the most important thing is to preserve the family budget as much as possible. You need to buy essentials, but spending all your savings at a time is a very bad idea.
Precisely plan what you really need to purchase and completely abandon spontaneous purchases.
If you already have a debt to the bank, you should try to solve this problem as soon as possible. There is no way to pay the loan – contact the bank with a request for debt restructuring. And if there are several loans, it will be most productive to repay them one at a time, from smaller to larger. So you can gradually close all debts.
And try not to take new loans, the same applies to credit cards.
You can return money from purchases in almost all stores, and this is a great opportunity for savings. Where can I use cashback in a crisis:
– food (delivery from supermarkets and restaurants);
– pharmacies (also the ability to avoid queues);
– clothes and shoes (here the savings can be enormous);
– goods for children (including infant formula).
In fact, cashback can be received from almost any purchase, and it is displayed on the card in the form of real money.
Now the whole world is faced with the problem of coronavirus, but involuntary isolation can be easily overcome if you correctly treat the distribution of the family budget and not give in to panic.