How to optimize your budget during a crisis: real advice and recommendations
If you follow a few simple rules, you can immediately start saving with the help of competent budget allocation and purchases with cashback.
The ability to save is always useful, and in a crisis, these tips become especially necessary and useful. This article is for those who need real advice 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 purchases with cashback.
Control of income and expenses
The correct management of the family budget is the basis for savings. You can create a special notebook, table on your computer or download a mobile application. You need to write down all the expenses, the only way you can analyze the situation and understand how to save money and what. The main thing is to make sure that incomes are always higher than expenses, and, if possible, try to save 10-15%, so that in the future you can form a reserve fund in case of unforeseen situations.
Avoiding unnecessary purchases
Now, under conditions of quarantine, people often panic, purchasing a huge amount of goods, which in theory could soon rise in price. Do not forget that during 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 once is a very bad idea.
Plan exactly what you really need to purchase and completely avoid spontaneous purchases.
If you already have a debt to the bank, you need to try to solve this problem as soon as possible. There is no way to pay the loan – contact the bank with a request to restructure the debt. And if there are several loans, it will be most productive to repay them one at a time, from smallest to largest. 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 to save money. Where can you use cashback in a crisis:
– food products (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 forced isolation can be easily survived if you correctly treat the distribution of the family budget and do not succumb to panic.