Keeping Up With The Bulls

A personal finance blog focused on making more money, saving money and smart spending.

  • Start Here
    • Start Here Latest Posts
    • Personal Finance Terms to Know
    • Money in Your 20s
    • Saving Money Tips
  • Career
    • Career Latest Posts
    • Advance Your Career
    • Corporate Benefits
  • Investing
    • Invest Latest Posts
    • Passive investing
    • Invest in startups
    • Retirement
  • Smart Spending
    • Smart Spending Latest Posts
    • Saving Money Tips
    • Housing
    • Food
    • Holidays
    • Wedding Guest
    • Wedding
  • Tools
    • Tools and Resources Latest Posts
  • Contact

12 Simple Ways to Save Money During Coronavirus

04.12.2020 by admin // 1 Comment

how to save money during coronavirus, saving money during coronavirus, simple ways to save money, how to save money during the coronavirus

No one prepared for a global pandemic and significant disruption to daily life, personal finances and businesses whether you have an emergency fund or not. More than 16 million Americans have lost their job in the past 3 weeks. Regardless if you’re in this situation or not, it’s important to save money during coronavirus and create an extra cushion just in case.

The most important thing to getting back on track financially is to generate income. This can be done through your career, a side hustle or passively. However, if your current income has been disrupted it will take more time to develop a new plan of action. In the meantime, an immediate action you can take is to cut expenses. Start with cutting your largest expenses to make the biggest difference and work your way down to cutting back on the smallest expenses. Here are 12 simple ways to save money during coronavirus.

Create a Budget or Financial Baseline

Before you start cutting expenses to save money during coronavirus it’s helpful to know first where you are spending money today. How much money are you spending on housing, transportation, bills, food and other items? This is helpful whenever you’re looking to start saving money, but even more important now with all this uncertainty. Even if you don’t know exactly how much you’re spending in each category a ballpark number or a range will help you prioritize where you should look first to cut expenses. Then, start looking at simple ways to save money on household expenses. Household expenses are usually your largest expenses and provide the most opportunity to save money.

Reduce or Delay Mortgage Payments

The CARES Act recently put in place two protections for homeowners with federally backed mortgages. The first is a foreclosure moratorium and the second is a right to forbearance for homeowners who are experiencing a financial hardship due to the virus emergency. The Consumer Finance Protection Board shares more information along with helpful resources on what you need to know, which options you qualify for, how to get mortgage relieve and more.

Reduce or Delay Rent Payments

The CARES Act included a little bit of protection for renters. For renters that are renting from an owner who has a federally backed mortgage there is a suspension or moratorium on evictions and you can’t be evicted for non payment of rent for 120 days beginning March 27,2020. In addition, many states have suspended all evictions and foreclosures due to the pandemic. For more information, go to the Consumer Finance Protection Bureau. You are also always able to call your landlord and see what options there are for flexibility. Having a conversation with your landlord instead of assuming you’re out of luck is always best.

Creative Ways To Save Money on Rent

There are creative ways to save money on rent in the short term if your landlord is willing to negotiate. For example, can you pay less rent now and make up the payments later? Pay less rent now and extend your lease? Help with maintenance like painting or yard work in exchange for lower rent? Are there construction projects the owner wants to do in exchange for lower rent?

One time I was renting and our landlord wanted to expand a half bathroom to include a shower. This would have been a significant living disruption for two months. As a result our landlord offered us a rent reduction. Our landlord wanted to do this because once our lease was up he’d be able to charge a lot more for rent. We ultimately declined the offer. In times like these there are situations where both you and your landlord can come out winning.

Come armed with data to the conversation with your landlord, especially if your lease is ending soon. Know current market rates and how much your landlord would be able to get if they listed it now or in a few months. If your lease is ending soon negotiate a better rent. Ask if you can go month to month so that you have flexibility to move if you need to.

Reduce or Delay Student Loan Payments

The CARES Act passed in the United States included a provision to help student loan borrowers. All federal loans are temporarily suspended retroactive to March 13th and interest will not accrue through September 30th. Most federal loans qualify but not all so make sure to check the details before making any assumptions. For loans that do qualify, this should happen automatically but make sure to continue checking your statements. If you can afford to continue making your federal student loan payments during this time consider doing so. All payments will go towards paying the principle and you’ll be able to pay down your balance faster.

Even if your debt payments aren’t covered in the stimulus bill that doesn’t mean you don’t have flexibility. You always have the option to call your servicer and understand what options you have.

Reduce Transportation Expenses

Data shows Americans spend roughly 13% of their income on transportation. When you’re looking at options for cutting your expenses, transportation is one of the top household expenses to make an impact.

Negotiate or Reduce Car Payments

Don’t forget, it’s always better for both you and the lender to work together. It’s more expensive for your lender to repossess your car. Even though the CARES Act didn’t provide specific relief around car payments you still have options. To see what options are available to you, you must call your lender. The Consumer Financial Protection Bureau recommends asking to change the date your payment is due, request a payment plan or ask for a payment extension / deferral. Here is their advice on how to handle these conversations with your auto loan servicer.

Reduce Auto Insurance Payments

If you’re in a shelter in place area and are driving way less you have an opportunity to save money on car insurance. Don’t hesitate to contact your car insurance company and negotiate. Several car insurance companies such as Progressive and Allstate have already announced they will be offering partial refunds to customers. While this is a great proactive step, you may be able to negotiate more if you’ll be driving less for longer than they’ve assumed.

Trip of a Lifestyle called their auto insurance to let them know they were driving way less due to social distancing. Their provider ended up giving them an immediate partial refund on their current 6-month billing cycle, in addition to the automatic discount they are giving everyone next billing cycle. It only took them 7 minutes and was well worth it!

Reduce Spending on Gas

Since you’re likely driving less you should automatically be spending less on gas right now. In addition, oil prices have drastically reduced due to a combination of oversupply and reduced demand. Even when areas start opening up again expect to pay less at the pump. Do your best to estimate how much you were previously spending on gas per month and how much you expect to pay a month in the next few months.

Reduce Spending on Ride Shares and Public Transportation

With only essential businesses open in many places and many businesses moving to work from home the amount you spend on ride shares and public transportation should automatically be reduced. As areas begin reopening, continue to look for ways to keep this expense at a minimum. For example, now that you’ve shown you can be productive working from home, can you continue to work from home a few days a week?

If you aren’t commuting and normally have a monthly ride share pass or monthly train card don’t forget to cancel or pause it.

Reduce Spending On Food and Alcohol

Instead of ordering takeout cook as much as you can. It’s harder to use coupons and sales to get good deals on food right now but it is still cheaper to cook yourself than ordering takeout. There are plenty of tips for beginner cooks to help you get started. If you’re used to cooking but aren’t sure what to make here are meal ideas for breakfast, ideas for what to cook for dinner and recipes with few ingredients.

To reduce your food spend even further, consider buying less alcohol and planning out all of your meals so you waste as little food as possible. Food costs are rising at grocery stores but by planning as much as you can you can mitigate the amount these costs rise. Not sure how much you were spending on food in the first place? If you don’t document where you spend your money look at your last few credit card statements or think back to where you have spent money the past month on food and restaurants. This will help you develop a baseline.

Reduce Additional Household Expenses

Staying at home full time may actually increase some of your household expenses such as electricity, gas and water. When you look at your total household spending it’s important to take these potential increases into account. To make up for these increases can you cut your expenses anywhere else?

Reduce Internet and Cable Bills

A simple way to save money during coronavirus is to make a quick call or email to your internet and cable provider. Call and see if there are better deals on your internet and cable package. If you can’t negotiate the amount you spend, can you negotiate a better internet speed or cable package for the price you’re paying today? With no sports on, can you move down your cable subscription or even cancel it entirely? Many of the streaming services offer a week or month free if you’re not a current customer. You can take advantage of these one at at time.

If you already have streaming services and taking advantage of the free month isn’t an option look at how much cable, internet and streaming services cost you today. Cutting the cord may not save you as much money as you think if it’s bundled with your internet. Your Average Dough created a breakdown of every single cable, streaming and internet expense to see how much money they could save (without negotiating).

Reduce Cell Phone Data Plan

Are you using less data on your cell phone because you’re always home and connected to wifi? Consider reducing the data package on your cell phone plan and using your wifi for data more often.

Remove As Many Non Discretionary Expenses as You Can

Every purchase you avoid to save money during coronavirus, even if it’s only $5, will help create a financial cushion. It’s easier to avoid non discretionary expenses now because so many businesses including bars and restaurants are closed until further notice, travel is restricted and sports are paused. If you’re not sure how much money you spend on discretionary purchases every month look at your last few credit card statements or think back to where you have spent money the past month or two. This will help you develop a baseline. If you’re still not sure think about a few things you bought recently and ask yourself if it was a purchase you could have delayed or went without.

Delay Purchases Until Later

Because of the situation we are in, there may be necessary expenses that you can delay until later. For example, do you really need a new pair of pants or shoes when you’re working from home or can that wait? Is that thing on Amazon truly a need or is it a want that can wait a couple of months? Personally, I need a new pair of running sneakers but since I’m socially distancing I’m going to hold on this purchase until I see a good sale.

Call Someone Instead of Buying Them A Gift

A simple way to save money during coronavirus is to call someone instead of buying them a gift. A call or video chat is a great way to show someone you care about them and they’ll probably treasure it more than a material item.

Don’t Avoid Spending Money At the Expense Of Your Mental Health

It’s important to not take cost cutting too far. Mental health is really important. The virus, cabin fever, worrying about the health of your friends and family and job changes is a lot all at once. Don’t completely deprive yourself of happiness to save a few dollars. Be smart with your spending and wait a few days before you hit buy on the discretionary purchase.

What are simple ways to save money during coronavirus that you’ve found?

Categories // Smart Spending Tags // Housing, Saving Money Tips

How to Save Money Hosting Thanksgiving

11.17.2019 by admin // Leave a Comment

Hosting Thanksgiving: Table with apple pie, gold pumpkin Thanksgiving decoration and a few other Thanksgiving desserts

The cost of hosting Thanksgiving adds up quickly. According to a survey by Lending Tree it costs on average $334 to host Thanksgiving, or about $31 / person and takes 11 hours of time to prep. If this is your first time hosting Thanksgiving you may also need to buy additional kitchen tools and serving trays. The food, kitchen tools, and decoration costs all add up. Additionally, preparing the menu, shopping and cleaning take up a lot of time. Planning ahead will reduce the cost of hosting Thanksgiving and reduce the planning time. Here are ideas to save money and time hosting Thanksgiving in 2019.

Save Money on Thanksgiving Food

The easiest way to save money on Thanksgiving food is to not prep the entire meal yourself. Create a menu and when people ask what they should bring let them know which dishes are an option. If you already have enough food, ask someone to bring drinks, paper towels or paper plates.

Create a Thanksgiving Menu – And Stick To It

Not sure what to make? Here are ideas for what to make for Thanksgiving dinner. And, if you usually don’t make big meals, don’t forget to check out meal planning tips and tricks.

By creating a menu for Thanksgiving dinner and sticking to it you’re ensuring you won’t buy ingredients you won’t use. Don’t cook too much food either. While food can always be eaten as leftovers, if you don’t eat it in time it’ll go to waste.

Save Money on the Ingredients

The turkey will be the most expensive food item. To save money on the turkey and all other ingredients look for store coupons and manufacturer coupons. Some grocery stores even have turkey points which you can collect throughout the Fall and redeem for a turkey during Thanksgiving. It is cheaper to buy a frozen turkey than a fresh turkey. Don’t forget for every four pounds of turkey it takes a full day to defrost. You’ll need to take the turkey out of the freezer days before Thanksgiving. Plan ahead! And, if you forget here’s a backup plan for how to cook a frozen turkey.

Save Money on Thanksgiving Kitchen Items

You’ve now figured out what to make, but do you have all of the kitchen tools required? Hosting Thanksgiving is a big undertaking and you will need more kitchen items than usual to cook and serve the full dinner. In addition to the usual cookware, there are kitchen tools you rarely use that you’ll need for Thanksgiving. This includes items like a turkey roaster, baster set, cooking thermometer, potato masher, baster set, turkey lifters, chopper, zester, apple peeler, pie tins, drying mat, flavor injector, cooking twine, and gravy strainer.

Wow, that’s a lot! And that doesn’t include the usual items like serving bowls, serving utensils, measuring cups, mixing bowls and a mixer. You can always go to a store and buy these items but it adds up! Don’t worry, there are a few things you can do to save money here.

Borrow Thanksgiving Kitchen Tools from Friends

First, see what kitchen tools you can borrow from friends and family. Is anyone coming over early to help and they can bring a few items with them? Are any friends not hosting Thanksgiving that have some of the items above and will let you borrow them?

Scour Local Estate Sales for Kitchen Tools and Cookware

You can find deals on cookware, serving items and more at estate sales. An estate sale usually happens when there is a death and the family is trying to sell almost everything in the house before putting the house on the market. Estate sales are a great place to find complete sets of holiday table decorations, cookware and high end decorations as the family is trying to sell most of the stuff in the estate all at once.

To find local estate sales, enter the town + estate sale into Google. If you live in a city, you may have more success looking at close suburbs. This is also a great time to buy furniture or other household items you still need for your home.

Look For Kitchen Tools and Cookware on Craigslist and LetGo

Often when people are about to move they will try to get rid of stuff to make their move easier. When it’ll cost more to ship something than buy something new they will want to get rid of it. Looking for kitchen tools, cookware and other kitchen items at moving sales is a great opportunity to spend less acquiring these items. Since fewer people move in the winter the best time to look for moving sales are in the spring and fall. But, you still may find a decent selection in the weeks leading up to Thanksgiving.

Use Coupons When Buying Items for Hosting Thanksgiving

When you must buy an item look for coupons and deals. The deals won’t be as good as after the holidays but you can still find 10% or 20% off the store coupons. Bed, Bath and Beyond always has 20% off coupons. Bed, Bath & Beyond usually accepts coupons that have expired as well. For higher end kitchen items Bloomingdales Home has Friend & Family sales (it’s free to become a loyalist). However, deals on the kitchen items you need may be better on Black Friday or Cyber Monday so it’s worth holding out if you can.

Ask for Thanksgiving Kitchen Tools on your Wedding Registry

Today, 66% of married couples have lived together before they walked down the aisle according to the NCBI. When you’ve already lived together there are less things you need from a traditional wedding registry. If you already have most of the household basics, use this opportunity ask for kitchen tools you need to host holidays. While this may be too late for this year, this will help you host Thanksgiving in the future.

DIY Thanksgiving Decorations To Save Money

Are you crafty? The best way to spend less on Thanksgiving decorations is to do it yourself! You can make DIY Thanksgiving decorations for centerpieces, table decor, outdoor decor and more. DIY Thanksgiving table decorations that are cheap include fruit displays (that you can eat later!), candles, repurposing fake pumpkins from Halloween, pine cone wreaths and pumpkin pie place cards.

Look for additional inspiration for DIY Thanksgiving Decorations on Pinterest.

Budget Your Money and Time Wisely

Spending an average of $334 and 11 hours to prep to host Thanksgiving is a lot of money and time. It’s easy to overspend during the holidays on food, decorations, kitchen items and gifts. Create a budget for how much you want to spend hosting Thanksgiving and stick to it. Don’t be shy to let people know what food or drink they can bring over when they volunteer.

Balancing all of the shopping in addition to work, holiday parties and other events makes time really tight. Be mindful of how much time you spend researching what you want to buy, looking for deals and actually shopping. Consider hiring a cleaning service. Follow this hosting Thanksgiving checklist to minimize planning time and reduce the stress of planning the day. Don’t forget to take time for yourself and enjoy the season. It’d be better to spend a little more money and be happy than save a little more but miss out on all of the fun.

What are ways you’ve saved money on hosting Thanksgiving?

Hosting Thanksgiving Pinterest Pin

Categories // Smart Spending Tags // Holidays, Saving Money Tips

10 Ways To Save Money On Christmas Decorations

11.14.2019 by admin // 4 Comments

How to Save Money on Christmas Decorations, Cheap Christmas decorations, discount Christmas decorations, Christmas Decorations Cheap, Christmas decorations on a budget

This Christmas, make your home look festive for the holidays without spending a ton of money. Whether you want to buy cheap Christmas decorations or high end Christmas decorations for cheap there are ways buy Christmas decorations on a budget. Buying Christmas decorations after Christmas for a discount, scouring local estate sales for high end Christmas decorations or DIY Christmas decor are all ways to save money on Christmas decorations this year. Here are affordable ideas to save money on Christmas decorations.

DIY Outdoor and Indoor Christmas Decorations

Are you crafty? The best way to buy discount Christmas decorations is to DIY Christmas decorations! You can make your own Christmas indoor decorations and Christmas outdoor decorations. There is some decor you can find for free like pinecones and pine branches outside. You can also spend a little money on craft materials from a local craft store. Look out for coupons at local craft stores to buy your supplies and save even more.

Look for inspiration for DIY Christmas Decorations on Pinterest such as this Pinterest board by The Crafty Christmas, and ideas for cheap Christmas decor like 100 Dollar Store Christmas Decorations by the Prudent Penny Pincher.

DIY Outdoor Christmas Decorations

DIY Christmas wreaths are one of the most common examples for DIY outdoor Christmas decorations. Grab a few evergreen branches from the outdoors and look for inspiration on Pinterest. You can also make your own wreath from other materials. DIY outdoor Christmas decorations Pinterest searches yield results for wreaths, repurposed skis / wood and more.

DIY Indoor Christmas Decorations

Pinterest is abundant with DIY Christmas table decor ideas. There are many DIY holiday table decorations that include materials you can buy for cheap at a craft store or materials at home you can repurpose. Cheap Christmas decorations can include finding pinecones and evergreen branches outside to decorate your mantel or use a garland with ornaments. DIY Christmas Decoration Pinterest searches include napkin rings, waterless snow globes, Christmas tree skirts and more.

You can also make holiday gift bags as centerpieces, or repurpose other Christmas decorations you have lying around such as a garland with ornaments down the table. There are plenty of DIY for holiday kitchen decor!

See Also: Simple Ways to Save Money During the Holidays

Christmas Decorations from Family Members or Friends

Understandably not everyone has the option to get Christmas decorations from family. But, over time things tend to accumulate especially if you have family that has lived in the same place for decades. Help them declutter by taking Christmas decorations off of their hands. Perhaps they have held onto items that are sentimental but they don’t use. They’d prefer to keep something in the family instead of donating it. Christmas decorations that tend to accumulate over time include ornaments, coffee mugs, vases, table cloths, festive gift baskets, ribbons and other festive odds and ends.

Are any of your friends moving or moving in with a significant other? If they are, do they have duplicate items they’re looking to get rid of? Any time someone moves there are always items – big or small – that they won’t want in their new place. It works out for both of you if you can take something off your friends hands they don’t want anymore.

Ask for Christmas Decorations on Your Wedding Registry

Today, 66% of married couples have lived together before they walked down the aisle according to the NCBI. When you’ve already lived together there are less things you need from a traditional wedding registry. If you already have most of the household basics, use this opportunity to start collecting stuff you want to decorate your house for the holidays. And, consider what you’ll need if you want to host people for the holidays. This includes Christmas decorations, Christmas table decor and kitchen appliances that are more helpful during the holidays like a Kitchenaid mixer to make Christmas cookies as gifts. Additional hosting items can include extra table settings, serving utensils, serving bowls and more.

Split Buying Christmas Decorations With Friends

Do you live with roommates? Have everyone chip in to buy cheap Christmas decorations together. You can split the cost evenly and agree to a budget. Or, each pick certain pieces to buy (ex one roommate buys ornaments, one roommate buys the Christmas tree skirt) so that it’s easier to split up what you bought when you no longer live together.

Buy Discount Christmas Decorations After Christmas

The best time to buy discount Christmas decorations starts the day after Christmas. Stores want to clear their inventory quickly to make room for New Years Eve and Valentine’s Day and will have sales immediately following Christmas. While the selection may dwindle quickly as the sales get better it’s an excellent way to save money. Pottery Barn, Crate and Barrel and Home Depot are a few stores where you’ll Christmas decorations on clearance after the holiday. I’ve also had success finding Spode at TJ Maxx and Macy’s on sale.

After Christmas sales are also a great time to stock up on Christmas cards, wrapping paper, gift stickers and ribbon for next year.

Scour Local Estate Sales for High End Christmas Decorations

Finding deals on Christmas items at estate sales is one of the best kept secrets. An estate sale usually happens when there is a death and the family is trying to sell almost everything in the house before putting the house on the market. Estate sales are a great place to find complete sets of holiday table decorations, high end Christmas decorations and luxury Christmas tree decorations as the family is trying to sell most of the stuff in the estate all at once. It’s also a great opportunity to find quality Christmas decorations. You’re also more likely to find high end household items like Waterford crystal, Spode and more that can be put out during Christmastime.

To find local estate sales, enter the town + estate sale into Google. If you live in a city, you may have more success looking at close suburbs. This is also a great time to buy furniture or other household items you still need for your home. This includes kitchenware and table settings that you can also use during Christmastime.

Look For Cheap Christmas Decorations on Craigslist and LetGo

Often when people are about to move they will try to get rid of stuff to make their move easier. With Christmas decorations, especially items they purchased for cheap, they may even be willing to part with holiday items for free. When it’ll cost more to ship something than buy something new they will want to get rid of it. Christmas trees, ornaments, outdoor decorations take up space but are cheaper to replace than move.

Since fewer people move in the winter the best time to look for moving sales are in the spring and fall. You may even get a better deal since fewer people are looking to buy Christmas decorations during those months.

Use Coupons When You Buy Christmas Decorations

When you do want to purchase new items prior to Christmas look for coupons and deals. The deals won’t be as good as after the holidays but you can still find 10% or 20% off the store coupons that you can apply to Christmas decorations. Wondering where to buy cheap Christmas decorations? Bed, Bath and Beyond always has 20% off coupons. Bed, Bath & Beyond usually accepts coupons that have expired as well. Everyone makes fun of the long CVS receipts with coupons, but those coupons for $10 off X for example can be applied to the Christmas decorations they sell and Christmas cards and wrapping paper. For higher end Christmas decorations Bloomingdales Home has Friend & Family sales (it’s free to become a loyalist).

Use coupons after Christmas as well! While some stores limit combining sales with coupons you can always try and see if you can get that extra discount.

Rent Christmas Decorations

While this market is still relatively new, you can rent Christmas decorations. You’ll find Christmas decorations rental companies in various cities. Rent-a-Christmas is one example and is based in New York City.

Budget Your Money and Time Wisely

It’s easy to overspend during the holidays whether it be on food, decorations, gifts or all of the above. Create a budget for how much you want to spend and stick to it. This cost can come out of two areas in your budget: either how much you want to spend on the holiday season all together or how much you want to spend on household items throughout the year. Personally, I created a household items and repairs budget and included any holiday decorations and cookware that was required in that part of my budget.

Balancing all of the shopping in addition to work, holiday parties and other events makes time really tight. Be mindful of how much time you spend researching what you want to buy, looking for deals and actually shopping. Don’t forget to take time for yourself and enjoy the season. It’d be better to spend a little more money and be happy than save a little more but miss out on all of the fun.

What are ways you’ve saved money on Christmas decorations?

How to save money on Christmas decorations, Christmas Decorations Cheap, Christmas decorations on a budget, Save Money on Christmas Decorations Pinterest Pin


Categories // Smart Spending Tags // Holidays, Saving Money Tips

  • « Previous Page
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • Next Page »

Search Blog Posts

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Recent Posts

  • 2023 Roth IRA Rules: What You Need to Know February 2, 2023
  • Affordable Self-Care: Cheap and Easy Ways to Take Care of Yourself January 31, 2023
  • Why Learning to Code is a Valuable Investment for Your Career and Future January 24, 2023
  • Unlocking the Potential of the Mega Backdoor Roth 401(k): A Comprehensive Overview January 17, 2023
  • How to Buy Treasury Bills at Charles Schwab January 10, 2023

Follow Us

  • Twitter
  • Pinterest

Copyright © 2023 · Modern Studio Pro on Genesis Framework · WordPress · Log in