Are you financially stressed out? Here are ways to potentially cut your costs
There is no denying the devastating impact COVID-19 has had on the economy, as well as households. People across the country have experienced salary cuts and some even retrenchment.
With bills still pilling up and having to still feed your households, here are a few tips that may help with decreasing your monthly expenses.
- Cut back on hobbies, such as holidays, gyming, trips to the movies
- Reduce entertainment subscriptions, such as DSTV, Netflix
- Cancel cellphone contracts, go back onto the prepaid option
- Reduce domestic and international travel
- Cut grocery spend, focus on essential items only. Look into meal planning.
- Reduce fuel usage - find, or create possible carpool clubs
- Decrease spend on clothing and accessories
Also Read: Finding a balance between life, raising kids, and your career
Times are tough, therefore we should look at all ways of cutting back and saving where possible.