How Are We Getting By Financially During the Global Pandemic?

budgeting tips

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper The COVID-19 pandemic is still here, and it’s been a year. It has wreaked havoc in so many lives, from unemployment and death to financial struggles. Every day, things are changing. If you’re one of the many struggling with their finances and you’re concerned about how things will unfold, continue reading. We will be talking about how we are all financially weathering a global pandemic with no end in sight anytime soon. 

More Budgeting

Today, more people are budgeting. This is because by budgeting, it creates a sense of control. In this pandemic, it’s challenging to grasp a sense of control, yet there are ways to do that when it comes to your finances, and that is through budgeting. 

Pause on Mortgage Overpayments

Many homeowners, before the pandemic, aim to overpay their mortgage to help shorten its length. However, things change abruptly, and there is now more “pause” on mortgage overpayments. Most homeowners aim to put the money aside for the meantime, just in case. 

Pause on Stocks and Shares

Stocks and shares are long-term investments, but amid a pandemic, their amounts have significantly dropped. Today, plenty of investors have put a hold on checking their stocks and shares as it often leads to frustration and despair; and that’s something you don’t want to feel as much as possible during a turbulent time. 

Batch Cooking

Supermarket prices have gone up, and it’s become more challenging to find items in groceries today. Therefore, a lot of people do batch cooking that they can store in the fridge as leftovers. This results in fewer grocery runs and more money saved up. 

Reduced Car Trips

If you think about it, one of the biggest expenses you make is fuel for your car. Today, since certain restrictions apply in various parts of the world, it has reduced car trips. In turn, people get to save more money, instead of spending it on fuel to get around. 

More House Decorating

A lot of people today have more time to spend at home. Therefore, home decorations are at an all-time high. Individuals who have some money left over from their house purchase set them aside for house decoration and odd jobs that need to be finished around the house. 

The more time people spend inside their homes, the more motivated they are to make their space look more pleasant and comfortable. 

Indeed, times have changed, and it has a powerful impact on everybody’s finances. For over a year, a lot of people have been able to weather the global pandemic financially and these are some of the ways they do it. You might notice it, but hey, you’re here, breathing, and still pushing forward. 

In a Nutshell

It’s scary to be living at a time of a global pandemic, especially financially. However, it also has taught people better ways to save money. Additionally, it teaches people the different ways they can save more. For what it’s worth, the global pandemic also brings goodness to our lives as it makes us appreciate even more the value of money. In turn, it leads to us making more financially- sound decisions. 

Whether you need some budgeting tips or easy ways to save money, Frugal a Lot has it. Browse our topics today. 

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