Tip #1: Contact your creditors about your financial situation. Ask them about reducing or deferring your payments during these uncertain times. Some banks are offering borrowers flexibility right now!
Tip #2: Cancel your non-essential subscriptions, like Hulu or the gym. Check your financial statements, and if you haven’t used a service for 90 days, let it go! You can always reactivate it later.
Tip #3: Take advantage of free entertainment offers! There are free ebooks, free HBO, and free video games, including ones you can play with friends from afar! Also, take advantage of free trials (just remember to cancel before your time is up).
Tip #4: Go old school on your cooking. Avoid smaller one-snack packs. Bulk items like dry beans, rice, pasta, and quinoa can save money! Casseroles, tacos, and many other recipes are inexpensive and easy to make, even if you don’t cook!
Tip #5: Turn up (or down)! Adjusting the thermostat 10 degrees can save 10% on your utility bill. Wear sweaters inside when it’s cooler outside, and set your thermostat lower. In the upcoming warmer months, wear cooler clothes and set the thermostat higher.
We know these times are hard enough without added financial pressure. When we prioritize our spending by using effective personal finance strategies, we can definitely ride this thing out!