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đź’° How to Save Some “Moolah” During a Pandemic

đź’° How to Save Some “Moolah” During a Pandemic

Its pandemic time guys. Not sure how many of us have been through a pandemic with this size before but we are definitely sure we were not ready for what is to come. During this time, money is considered one of the most important things to keep us alive during & after the pandemic. Many lost their jobs & 6 out of 10 of them live pay check to pay check before that. Many SMEs are also struggling to plan their financial for coming months. Now, we are going to share some simple tips on how you can save some moolah to live through this hard time. 

 

How To Save Some Moolah During A Pandemic

  1. Groceries Shopping
  2. Online Shopping
  3. Bills
  4. Memberships

 

  1. Groceries Shopping 

via GIPHY

Despite everybody now being able to be a chef, people cooked from home since most restaurants & cafes are closed. But if they still take outs & deliveries, others do not want to take the chance since Covid-19 can still spread by touching the contaminated delivery bag surfaces. If you’re the ones who never cooked before the pandemic at home, you may not be able to guess how much food you need over a week. You might have overspending chances if you have not adequately prepared shopping for the week’s grocery stores. 

We suggest you to plan ahead on all the meals, write a shopping list, budget on a maximum amount to spend for a week & shop only once a week to keep a strict track on the spending for groceries. 

 

     2. Online Shopping 

via GIPHY

While all of us are stuck at home now, the advanced technology where delivery of every product is possible wherever you live may not be a good idea for your bank account. We advised you who loves browsing Lazada, Shopee, Taobao & etc when you have nothing to do or in between working remotely, please watch your spending. You may think you need that coffee mug that is on sale on Lazada or that piece of dress from Zalora. And you have a 50% discount voucher! Why not, right? 

We suggest you to unlink all your credit cards or bank account from the platforms or even delete the apps if you feel they are challenging your self-control. Remember, you still spend money even you’ve got a 50% off, if you didn’t spend, you’ll get a 100% discount. 

 

    3. Bills 

via GIPHY

If your monthly contributions to your bill payments are about 30% of your salary, try cutting them down to at least 15%. While now you’re staying at home more than usual, bear in mind staying in with air condition on for 24 hours may cause a spike on your electricity bill. We know its 40 degrees out there, but if you can deal with the hot weather by just keeping your fan on, your bank account will thank you later.  

We suggest you to take short showers, minimize the amount of time opening & closing the refrigerator’s door because it consumes electricity more, remember to off the power sockets & any electricity appliances when not in use & to reduce the monthly mobile phone plan to the cheapest if you have Wifi at home. You don’t need your phone data if you work with your Wifi at home.

Despite our government has declared a 6 months electricity bill discount in Stimulus Package 2020, but
it does not mean you don’t have to monitor your monthly usage. Use them wisely.

 

   4. Memberships 

via GIPHY

You may think you need the most premium membership for Netflix since you’re going to be stuck at home for a period of time. Or you still let your gym membership runs even they are closed. Maybe you’re paying RM300 a month for your Astro subscription. And premium Spotify subscription that you used to listen to when commuting to work. 

We suggest you to reduce or even cut off those subscription when you can watch almost everything online for free now. Even if you can’t cut off, choose one that means the most to you. Either Netflix or Astro. Choose one. Call up your gym to discuss about deferment if your monthly gym membership is charged automatically on your credit card. You may not need premium Spotify now when you can watch a movie, even if you like listening to music, Youtube always offer free music! 

 

Saving money is not as hard as you may think, but not having money when you need them will be hard. You may not need the extra money now; you will need them in future. No one complains when they have more money, you will never know when you need them to save a life. With the current lifestyle around the world, we will not know when is the next pandemic gonna hit. Be prepared, stay healthy, stay safe & stay at home. 

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Meridin Property Guru

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