How To Save Money During Co-Vid

The financial landscape of our country has been turned completely upside down in the middle of this pandemic. In one week I had to turn my home into my classroom not only for my children, but for my students as well. The last two months has involved learning how to teach online, while trying to wrangle my two, five, and fourteen-year-old sons into some sense of normalcy while nothing is normal.

While I realize that stimulus checks and unemployment have secured some families financially for the time being, my concern lies in the long term. How are families going to survive over the long haul if jobs are not restored to our economy. This is my bigger concern, and why I feel so compelled to help other families save money now more than ever. Here are just a few ways to help secure your family’s financial future.

1. Bank the stimulus check and the refund. Now is the time to secure your first baby step in Dave Ramsey’s Baby Steps program (We are working between steps 4, 5, and 6 simultaneously). My husband made the comment the other day about how to electronics department at our big box store was depleted because he felt everyone was out purchasing new electronics with their refund and stimulus checks. This is not the time to be making new large purchases. We have no idea where our economy is going to head over the next year, and you may need that money to pay rent, buy food, clothing, and other vital necessities. Check out our tips on How to Build Your Emergency Fund Quickly.
2. Cook from scratch. My son has started learning to cook, and we have started cooking from scratch at home every night. Now, we do support one local restaurant every Friday evening by getting take-out. However, the majority of evenings we are cooking home-cooked meals with all of the tips we shared in How an Organized Menu Plan Keeps Your Budget In Tact. If you haven’t started meal planning yet, check out our Meal Planning 101 post to learn how to save your family money by making your meals go farther.
3. Cancel budget items you don’t. When was the last time you looked at your budget? Are there expenses you could cut from your home or business budget? Now is the time contact vendors and businesses and cancel unnecessary subscriptions. I was surprised that there were a few subscriptions services I was no longer using and did not realize I was being charged for them.
4. Re-evaluate your insurance policies. When my husband and I married last fall, we were able to consolidate all of our insurance plans and save over $100 per month. This was huge for our family, and we have banked that savings as much as possible instead of spending it. It is good to check in with your insurance agent every year or two to ensure that you are getting the best possible savings.
5. Yard Sale unwanted items. While I realize that not every family has more time on their hands, even with teaching from home, I’m able to squeeze in time to sort through old items that we don’t need anymore. Check out our post on How to Have the Best Yard Sale Ever. This is a great way to add extra money to your emergency fund.
6. DIY it. Now is the time to learn how to DIY everyday household items. Make sure to check out all of the posts in our DIY/Frugal category. Want to go non-toxic with everyday home items? Check out our essential oil posts to learn how to turn your home into a non-synthetic home for less. We can get you started for as low as $35.
7. Go on a spending freeze. Check out our 30 Day Spending Freeze Program. We have over 30+ posts to help you stop spending money and start saving today. While Co-Vid has sort of put everyone on a semi-spending freeze, this is great practice to keep it up once this whole thing is over.
8. Get healthy for free. Check out our Top 10 FREE Fitness Apps. While we can’t go to the gym, it’s time to find alternative ways to get fit at home. Be careful to choose your apps wisely, since many have hidden costs. I recently almost signed up for a 30 day free trial of Noom only to find out that it was going to charge me $149 at the end of the trial. Make sure to read the fine print!
9. Take advantage of free entertainment. There have been so many free concerts given by famous stars and singers. This is the time to cash in on free entertainment such as hiking (with Social Distancing, of course), biking, walking, jogging, etc. Search You Tube for read-alouds for your children, read books to your children, and google anything free related to you and your child’s interests. There is so much “free” going on around us right now, so it’s time to cash in and save.
10. Start a side hustle. There’s never been a better time to start a side business. Our Young Living business started as a side hustle and now provides us with a full-time income (on top of our other full-time incomes). Read about How I make Over $5,000 a Month With Young Living. Right now you can start your own YL business for as little as $35. We are making bank because we invested in our business little by little over the last five years. Read about our Top Side Hustles That Helped Us Get Debt Free.

These are just a few suggestions to help you secure your family’s income during this wild and crazy ride. There’s never been a better time to start thinking about your family’s financial future and start saving money.