Economic slowdown: how to optimize your budget

Economic slowdown: how to optimize your budget

During this global pandemic, economy is shifting in a way that deeply affects everyone’s finances. Here are some tips that will help you optimize the way you spend your money.

In times like this, there are a lot of things that we can’t control. But there are some we can and we should keep an eye on. The way you spend your money is one of those things. Here are some tips for you to make the most out of your budget.

1-    Look for coupon codes

Online shopping is at its peak since the pandemic broke out. Some popular websites for online shopping will let you use coupon codes to save money while purchasing. Try RetailMeNot, SlickDeals and Hip2Save.

Browser extensions are a useful resource for you to save money while shopping online. Once you install one, it will automatically find and apply discount codes from different retailers. There are many options available, such as Cently, Honey and Wikybuy 

2-    Use shopping apps that offer rewards

There are a lot of apps that offer cash back or gift cards when you shop, such as ibotta, Drop and Shopkick
If you usually shop at a particular store, you can also download the store app, if available. This will allow you to keep an eye on their discounts and promos.

3-    Track your spending

See where your money is going and adjust as necessary. There are many apps that will allow you to keep an eye on your finances  Sometimes, it can be scary to do this, but if you know how you spend your money, you know how to make the most out of it.

4-    Save the difference

Save as much money as you can, it doesn’t matter how much it is. If you saved money on groceries, put the difference in a savings account. This way you make sure that you are actually saving money and not just spending it on different things.

When times are hard, you don’t need to panic. Try to adjust your spending habits and optimize your earnings!

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