COVID-19 has taken over most aspects of our lives. One of the biggest aspects for everyone would be the financial implications of COVID-19. As we emerge from the lockdown levels slowly, one of the expenses that can be reduced significantly would be expenses at home. Making a few changes at home could make the world of difference and save you a few bucks in the long term. The following 3 changes can make your wallet feel a little better in the long run.
Switching those lightbulbs out.
Swapping out the normal light bulbs in your house for LED lightbulbs will make big savings. Although individually, a lightbulb does not make a difference. There is a difference when you have a whole house of lightbulbs that are on every day. These bulbs can save up to 75% of energy and will last 5 to 10 times longer than a regular light bulb. This in turn will decrease your electricity bill and in the long run, you will be paying less every month on electricity. It is also said that you will make back the money you had spent on the LED light bulbs within a year of use, through the saving.
Planning out food.
A simple way to cut expenses would be through an expense that we love the most… food. Cutting down on food expenses can be so easy, especially when we realize how much we are spending on food. By writing out a shopping list when going shopping and sticking to it with discipline. This can help save money on the extras that are not necessary. Convenience shopping is a habit that we fall into with the busy lives that we live in. Whether it is shopping for pre-made meals or takeout meals. By swopping out a takeaway or two a week, you could be on the road to saving thousands of Rands a month.
A good tip on saving was the “30-day savings rule”. This rule works in the way that instead of making an impulse purchase, you put the money you would have used into a savings account. By doing this, you will save money. If after 30 days, you still want the item you should buy it. When the want has faded, you will have saved money on an item that you would otherwise not need. You will be able to accumulate a good savings pocket that you can use for important purchases or a rainy day.
From saving money on electricity and food to saving through literally not spending. There are ways to make your money go further. Even by making small changes in your household, you will be able to make a difference.