All of us are stuck at home now. The government has implemented an enhanced community quarantine so people can stay at home while we wait for the virus outbreak to subside. However, since some of you can’t work at home, you are probably asking how you can pay for the expenses that you are going to incur for a month if you don’t have work. If you have savings, you better spend your money wisely because you may never know when will the pandemic end or if the government will extend the lockdown. Amid COVID-19, let me share with you the realistic ways to cut your expenses.
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the training below.
Stock Smarts Manila: March 14, 15, 21, 22 & 28, 2020
Stock Smarts Singapore: May 16 – 17, 2020
Stock Smarts New Zealand: June 6 – 7, 2020
Stock Smarts Sydney: July 11 – 12, 2020
Stock Smarts London: April 18 – 19, 2020
I know it’s boring at home. If you are not watching Netflix, you will find yourself scrolling on the websites of Shopee, Lazada, and Zalora. But, this is not the time to do massive online shopping. Remember that you are in quarantine and you need to preserve the money you have, especially if you think it can only cover up the next few days. To avoid spending, don’t shop. Wait for the quarantine to end and once you come back to work, consider assessing if you really need to do online shopping.
A one-month quarantine is a long time already. If you haven’t stuck up on your groceries yet, you can do it weekly. Allocate enough funds that you can use for your food for a week. In this way, you will be able to do budgeting easier. Try to go out less frequently so you can avoid the pandemic and at the same time, avoid spending on things that you don’t need during the quarantine. If you will stay at home with enough food to consume, you can save more money at the end of this situation.
Instead of looking at stuff to buy online, read educational books. This is the right time for you to gain knowledge about stocks, mutual funds, and other investment portfolios. This is a time given to you to do the things you could not do when you are outside hustling for your financial freedom. Enjoy this time to learn instead of online shopping. Read books at home rather than going out frequently. Stay at home, follow the directions of the government, and preserve the money you have.