There is no greater lesson than COVID-19 to finally understand that nothing is guaranteed. The pandemic has brought us to reiterate many things from our daily routine to sustaining a stable life. 

We are getting more and more acclimatised to the new norm of social distancing, masking and scanning SafeEntry QR code almost everywhere we go. 

Along the line, we learnt some of the adverse effects of the pandemic like a higher rate of retrenchment and pay cuts. This, coupled with the economic instability that we face across the nation and globe, our expenditures and spending habits are in a dire need to be reconsidered. 

Track with Your Money Flow

Being gullible towards trending fashion sales or the latest gadgets is easier than restricting yourself to a financial plan. It is certainly not illegal to treat yourself to things or services that you find enjoyable. But when you have unpaid debts, it is certainly not a wise move. 

The key habit to monitor your expenses is by setting a budget. As you allocate some money for your monthly commitments, remember to set aside a portion of your earnings for savings and emergency expenses as well. This prepares you for rainy days which can come unexpectedly especially during the pandemic. 

So how do you track your expenses? 

Other than writing down your daily spends in a journal, you can make use of many online applications. Some of the known applications such as PlannerBee, Spendee and Spendio can be installed on your phone. These apps can assist you in being aware of your money flow effortlessly. 

Cook Your Own Meal

Given that you spend the majority of your time at home now, the idea of ordering takeaway sounds more appealing when managing office work and household chores. Ordering takeout, however, could be the source of your shrinking wallet.

Plan a meal prep with the groceries you can get for a lot less money instead of ordering takeout. There are a variety of basic yet healthy recipes available on the Internet that you can make and enjoy. 

Avoid Unnecessary Purchases Or Subscriptions

As you take a look at your expenses, you may notice some expenditures on things that are not essentially needed. Most of the times, it can be recurring subscriptions that you do not fully use or the online carts filled with promotional yet needless items. 

Manage your subscriptions. Rather than having two or three movie streaming platforms, choose one which you often use. If you notice that you barely have time to binge-watch series or the latest movies, simply cancel the subscriptions and put the money to good use. 

Take some time off online shopping. Although shopping from home can be safer during the pandemic, it can easily lead you to spend more money. So, turn off the alerts when there are promotional discounts to stop the temptations. Use the online shopping platforms only when you absolutely need them. 

Earn Extra Money For Savings

It can be tough to make ends meet with the increasing cost of living. Even more at this state of a pandemic where pay cuts are imposed. Finding a side income to add to your cash flow can be a part of your savings plan.

There are online platforms that can be used to earn extra money.  

Some of the popular websites like Toluna, AIP Online Survey and My Survey pay you to be their survey participants. And if you really like taking pictures, then you can earn by posting your pictures on websites such as Shutterstock, iStockphoto and Etsy. 

If you do not already know, you can also earn money by running errands for those who cannot find the time to do it. Apps like LaborMe, The Butler and WhereGotTime allow you to choose the type of errands that you can bid and complete within the timeframe. 

Choose Energy-Saving Appliances

When you spend the majority of your time at home, you are more likely to use household appliances. As a result, the cost of utility rises. 

Simply put, energy efficiency is when a task is completed with lesser energy. Consequently, the amount of electricity consumed can be reduced when the electrical equipment is energy efficient. 

With lesser energy wastage and reduced consumption of electricity, you can cut down the utility cost. Other than saving money, you are also making the decision that enhances your lifestyle while conserving the environment. 

Therefore, purchase necessary electrical appliances with more than three ticks on the mandatory labels and according to the capacity that suits your needs. 

Save Money For A Financially Comfortable Life

Saving money can begin with the tiniest of changes in your everyday routine. All you have to do is examine your spending habits and make informed judgments about how you spend your money.