11 Ways To Save Money Every Day
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The [ coronavirus] crisis has [/news/coronavirus-unemployment-payments-applying-and-more/ millions of Americans out of work] and strapped for cash. And even if you do have a job, you might either be experiencing reduced hours or furlough, or a temporary, unpaid leave from work.
Regardless of your work situation, you might need to get your finances in order to make it through this pandemic. Here are 11 ways to save money every day, for every situation.
Read more: [/news/coronavirus-stimulus-check-the-best-ways-to-use-your-1200/ The best ways to use your $1,200 coronavirus stimulus check]
1. Set up a budget
If you don't have a budget, now is the time to start one. [/news/how-to-master-your-2020-budget/ Your budget] is your financial lifeline (and for some people, their literal one). First, list every income source you have. This could be your day job, side-hustle, government benefits or unemployment.
Then detail all your expenses, like your home payment, car loan, insurance, utility payments and anything that's a mandatory requirement every month. Gas and groceries should also be included, even though they don't have a set payment.
Create line-item budgets for each category. Some are easy. For instance, you probably pay the same in rent or a mortgage payment every month. But others might fluctuate, like food and gas. Give it a realistic estimate and check back every couple of weeks to check your status. If you were way off, make the necessary adjustments.
Budgets are a growing, living document. They aren't a set-it-and-forget-it thing. Review yours as often as you need to. Make sure you aren't over-spending and momcheap.pageride.com all your money is going where it needs to. The more you check in on your budget, the more you'll be able to check your financial stability.
2. Get a budgeting app
You can use a pen and paper or a spreadsheet to track your budget, but you could also [/news/the-best-budgeting-apps/ get a budgeting app].
Budgeting apps usually sync with your bank, credit card, savings and loan accounts to track your spending and income. You can set budgets for each category, whether it's your car loan or your home supplies. Budgeting apps are made to keep you organized and alert you in case your spending is getting close to maxing out. If you go over budget, the app will tell you so. Budgeting apps are a good idea if you need extra help managing your finances.
3. Lower your electricity bill
Your electricity bill is directly related to your usage. Even if you're at home more, you can still [ ].
If you're following stay-at-home orders, chances are the air conditioning might be on more than if you were at work. Instead of keeping your A/C running, switch it off and open the windows instead. Also, keep those ceiling fans going; they use less energy than air conditioners.
You can also switch to [/news/best-led-light-bulb-for-2020-for-every-room-in-your-house/ LED lightbulbs], install a dimmer and use motion sensors so lights and air kick on only when someone enters a room.
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