Spending vs Saving Quarantine edition

As America works on reopening outside ( I know, I know outside was never closed but you know what I mean) we have a tendency to just go crazy; like the sheltered child that couldn’t do anything growing up but once they left mommas house they just could help their self! Yea me! During quarantine we got some moola 1,200 some folks spent it while others saved it or paid some debt. We caught up on our favorite shows to the point where we are giving old shows a second chance.

I don’t know about anyone but I have a severe case of cabin fever! Like I need to be on somebody’s plane going to somebody’s island and spending all my money.

In all seriousness, For those who are still employed finding the balance between spending and saving will allow you to come out of this pandemic on the plus side.

To start limit your subscriptions… If you have cable there is no need to have hulu, netflix, disney+ etc.. Network with your friends or family and have each person pay for a specific subscription and share passwords in order to maximize how you are allocating your funds. In my family I pay for hulu while someone else pays for netflix and amazon.

Since we don’t have anywhere to really go we might as well save some of the funds we would of spend on vacay. Maximize your savings by placing it in a high yield savings account. Traditional banks wont be able to provide you with that so going digital is your best bet. Ally, Synchrony, CIT, Discover, American express, Capitalone all have high yield savings account.

I know I said to save but if you gotta shop online you might as well make some money while doing so. I use the following site to receive cash back on my purchases such as Rakuten (https://www.rakuten.com/r/BGERAL16?eeid=28187) and honey (http://www.joinhoney.com). Yea, thats my referral code; don’t be shy use it.

Meal prep is another way to stay on track. Doordash, ubereats, postmates are not your wallet’s friend. Make your way to the grocery store with your mask on of course and stock up on groceries and meal prep at least one or two meals for the day like breakfast and lunch and splurge on dinner. Once you are done grocery shopping keep your receipt and upload it on fetch rewards https://www.fetchrewards.com/. Earn some money while you try to chef it up. Also, don’t forget to download coupons from your store before you shop so you can get some additional savings. I love me a good savings.

In short, allow your money to work for you during these uncertain times and see how much you can save; who knows you might actual like it.