With restrictions gradually easing after 3 months of Lockdown, many of us have had to survive without anything that is not essential. While it is important to help the economy and support local businesses when we can, not everyone may have the financial resources to do that, as many families have been hit financially. With that in mind, here are some ways to control spending in life after Lockdown.
Travel restrictions are gradually being eased but there is always the possibility of the second wave of Coronavirus hitting if everyone gets back to normal too quickly. To stay on the safe side, choose day trips and outdoor settings. Perhaps camping would be a more cost-effective way of accommodation rather than a hotel.
You can safely do your shopping online and order just what you need as opposed to being tempted into buying things that you don’t really need. If your children are growing fast, and they need a new wardrobe, a simple hack would be to cut their trousers or leggings that they have outgrown and turn them into shorts for the summer.
With the weather warming up, there is plenty to explore in your local area. Go for walks in the woodlands, parks, and other free green spaces, rather than pricey tourist attractions that will be full of more people. Opt for homemade food, takeaway, and picnics over dining out when restaurants and pubs reopen.
Keep track of your bills and automatic payments from the last few months. Check which businesses were not able to fulfil their services, such as gyms, and therefore you should be entitled to a refund or a freeze of membership. Some car insurance companies were even giving discounts as drivers were not driving much during Lockdown.
Check to see if you are entitled to any benefits. There are a number of different types of support available for low income families, or if you have lost your job. Your children may also be entitled for Free School Meals which will last throughout the summer holidays.
Savings & Budgeting
The future is still uncertain so focus on setting aside a certain amount of money every month and stick to your budget. My Outspace frequently runs Budgeting courses across Croydon Libraries. You can also use this resource from Money Saving Expert to help you create your budget. https://www.moneysavingexpert.com/banking/Budget-planning/