For most, the Covid-19 Pandemic has brought challenges for personal financial situations. Communities have felt these challenges economically, and some businesses have even had to close already – bringing even more challenges to individuals trying to maintain their normal lifestyle or even looking forward to trying to create a sense of normalcy once again as restrictions are lifted. When it comes to saving money during this time, there are some things you should consider:
Sit down with a list of your memberships, services, subscriptions, and expenses - anything that automatically charges to your credit card or auto-debits from your bank account each month. Scanning bank and credit card statements line-by-line is a great way to find hidden expenses in this category. If you have paid a yearly fee that you can’t get back, you may still be able to stop a monthly fee or be reimbursed partially – but you do have to ask. Make a list of places to contact if needed. While you may be hoping to physically return to a public gym, at some point there’s likely not a benefit for paying for it monthly during this uncertain time.
You’re getting all of the emails about what companies are offering during this time – so go ahead and see what services are being offered out there for free. If a certain workout system, music subscription, meal kit, or other health-related service is free for now – set the date in your phone for when you will need to cancel so that you don’t end up paying. Benefit from trying all the free promotions being offered at this time without committing to another cost. Beware of marketing gimmicks and spending unnecessary money.
For areas like physical fitness: buy low-cost, high-quality home workout equipment so you can sustain your workouts in substitution (or supplemental to) your usual gym membership. Physix Gear’s massage balls, muscle rollers, and resistance training gear can provide for a great at-home workout and recovery afterward. The resistance bands come with a free e-guide with extra information that you can use to get your best results. You can get your money back on that gym membership and still save for months to come! You will likely find these and similar items useful even when you do return to the gym, so nothing will be lost.
Planning your meals is sometimes a little tricky right now with having to go with what’s available at the supermarket, and perhaps you’re working with a reduced budget overall due to furloughs or other circumstances. With apps that take what’s in your fridge and pantry and suggest meals and some thoughtful decision making, you can eat healthy, well-balanced meals on a budget.
Whether you need an extended time to pay things off, some options for consolidation, or you just want to know what offers are out there – it doesn’t hurt to at least ask your bank some questions. If you do have a little extra to put away after canceling subscriptions and memberships, look into what banks have for savings accounts. Even if you only have a very small amount to put aside right now, it is better than none, and online banks offer better savings accounts usually.
See what ideas others in your family and circle of friends have for cost savings. Challenge each other to try different options that might save you in the long run, and pool your resources in as many ways as you can. You might be surprised about what you come up with as a group!
Only buy what you need to support your basic family needs and your health and fitness. Only make online purchases from legitimate companies that have a 100% satisfaction guarantee and no-questions-asked return and refund policy. Physix Gear Sport, for example, offers this for all purchases to include workout equipment, compression sleeves and socks, knee sleeves, elbow sleeves, and everything else. Be safe and healthy out there, and always remember to look on the bright side of life!