The COVID-19 pandemic has affected many individuals in many different ways. People are struggling financially due to losing their jobs or the overall downturn in the economy. If you’ve been affected, you may be desperately searching for a way to keep afloat. Even with less income, you’re still expected to pay your bills and cover your living costs. However, there are ways you can work to lower your bills during this hard time.
This is a time for creativity. Discounts and savings are available, but you have to be willing to search for them and think in new ways. Don’t be afraid to ask for some aid and be honest about what you need. The whole world is going through the same situation, so even bill collectors are showing empathy and compassion right now. As you begin your journey to lower your expenses, here are a few ways to help cut your bills during this pandemic.
Change to Cheaper Providers
Your utilities can add up, especially if you’re overpaying for them. Consider examining your providers for things like electric, cable, and internet. With so many internet providers out there, you deserve to find a company that is best for mobile users like you. Compare your internet prices online, see if you can bundle payments together, and understand all your options. You can start saving money now and be sure you’re never overpaying for quality coverage again.
Earn More on Investments
Investing in your future is just as important as paying off all your bills. If you invest a certain amount every month, be sure you are getting the most for your money. An alternative investment can help you earn high returns compared to a standard investment platform. So before you ask is Yieldstreet legit, know that this alternative investment company works by getting you returns between 8% and 20% and is completely safe and reliable. Don’t cut back on your investing during this time, but instead focus on investment options that will help you grow your money during this difficult time.
Limit Your Spending
Some bills and expenses are non-negotiable like rent, food, and insurance, other expenses may be more of a luxury and can be cut back during this time. Online shopping is easy and convenient which makes it dangerous. Try to put safety measures in place for yourself so you don’t overspend. Set limits on your credit cards or just be sure they aren’t saved on your favorite online site. Also, consider carrying cash and only paying that way so you don’t spend more than you allow yourself. These little tips can make a big difference.
Delay What You Can
Because companies understand the current financial crisis, they may be willing to work with you in ways that previously couldn’t. For example, big car companies are offering deferments on loans for your vehicle, so you can put off paying for a limited time. You may even be able to speak with your landlord or mortgage lender about deferred payments for your home loan or rent. Even if you can cut out one or two payments each month, it can help you stay on your feet until you’re back to work or in a financially stable place again.
Perhaps the biggest tip during this time of financial need is to simply ask for assistance. If you’ve been a loyal customer, you may be able to reach out to that company and ask for a break on your bills for a few months. Even a call to your credit card company may result in a lower interest rate or no minimum payments for a few months. Companies want to help their customers, so it’s worth a call to the companies you owe regular payments to see about cutting your costs.