The ongoing COVID-19 pandemic has impacted almost every part of daily life for many individuals. Indeed, most people are currently confined at home in order to help slow the spread of the virus and to ease overburdened healthcare systems. Furthermore, many people are being forced to work remotely because numerous offices have been shuttered due to the pandemic. However, saving money while quarantining at home is possible in a variety of circumstances, and the money you save can be devoted to student debt.
As many people have no doubt already realized, quarantining at home means that individuals are not spending money on entertainment expenses that usually cost a substantial sum. Indeed, I have not been out once in the past several weeks, and I have had little occasion to spend money on anything other than the essentials. So long as you are not one of those crazy people who continues to head out despite an order to stay indoors, saving money while quarantining at home should happen immediately for you.
One of the main strategies that I have implemented when saving money while quarantining at home is to avoid eating out in most circumstances. Although it has impacted my morale to a small degree (since I am a bad cook!) I have been cooking most of my own meals since I started quarantining at home. This has meant less trips outside, and less possibility of coming into contact with people who may have COVID-19.
I have been eating sandwiches for most lunches, and grilling outside for most of my dinners. It is pretty hard to screw up cooking something on the grill, and spending time grilling on my terrace gives me a little outside time, which is a welcome treat. Breakfasts are pretty easy to make, and I have been eating bagels, muffins, eggs, and bacon.
I’m not going to lie, saving money while quarantining at home may impact small businesses, and this has motivated me to order take-out several times over the past few weeks. I have good relationships with some small restaurants in my neighborhood that I know are struggling because of the COVID-19 pandemic. Also, it is always good to treat yourself to takeout every now and then. I of course take precautions when I drive to places to pick up ordered food, and if you keep moderation in mind, saving money while quarantining at home is possible with ordering take-out.
Another way to try saving money while quarantining at home is to minimize entertainment expenses. People suddenly find themselves with a lot of free time because of COVID-19, but they can’t go out in many circumstances because of stay-at-home orders. One of the biggest passtimes under the circumstances is to stream movies from home. Although most movie streaming services provide one flat rate for unlimited content, it is also possible to rent movies for a fee.
Many people I know have been spending a substantial sum on renting movies, and this can make it much harder when saving money while quarantining at home. Of course, the movies that you can rent are usually better quality than the films you can see on a streaming service, and they may be newer movies that you have not yet seen. Nevertheless, it is important to save money when you can, so if you can avoid spending money on rental fees you’ll have more money in your pocket.
Another way to try saving money while quarantining at home is not to shop online for items that are not necessary. With boredom running high, many people might be tempted to shop online as a distraction and to find items that can provide entertainment during this time. For instance, one of my friends just purchased a Nintendo Switch so that they have another distraction while quarantining at home.
However, it might be better to re-purpose things that you already have rather than purchase completely new items for entertainment purposes while quarantining at home. For instance, I have owned both a Nintendo 64 and an NES for years. I have been playing these game systems a few hours a day, and this has provided a welcome distraction while quarantining at home. As a result, if you can get by with items you already own, saving money while quarantining at home can be easier.
Another way to try saving money while quarantining at home is to attempt and recover any amount of money that you paid for goods and services that are no longer needed because of the COVID-19 pandemic. For instance, I have a friend who was able to argue to his landlord that he should not pay his monthly amenities fee since his gym and other common areas have been shut down because of the COVID-19 crises. In addition, my brothers have been able to secure refunds for tickets that they purchased for sporting events that have not occurred because of the pandemic. People have been pretty creative trying to recoup money that they spent, and if you think you are entitled to money, it does not hurt to ask.
In the end, saving money while quarantining at home is possible in a variety of circumstances. Individuals will naturally spend less money during this time, since there are less opportunities to head out. However, people can also save money by not wasting cash on items that might not be necessary, and by demanding the repayment of funds for goods and services that are not needed because of the COVID-19 pandemic.