- The classic piggy bank! Unsplash.com - Damir Spanic @spanic

Six things you can do to save money during the lockdown

MT Blake posted in USA News

1w ago

32.3K

You need money. I need money. We all need money to survive and continue to climb this ladder called life. Many of you are out of a job. Regardless of your status of laid off, furloughed, or quarantined, you could probably use some ideas where you can find money you already had!

1. Drop subscriptions and other monthly payments

You have four months of play time on WoW? Think about all those hours if you made even $10/hr. Unsplash.com - Glenn Carstens-Peters @glenncarstenspeters

You have four months of play time on WoW? Think about all those hours if you made even $10/hr. Unsplash.com - Glenn Carstens-Peters @glenncarstenspeters

Do you really need that Netflix subscription? Xbox or Playstation online subscription? How is sitting on your bum going to make you more money? Face the facts; your Twitch won't take off, YouTube isn't as lucrative as it was five years ago, and you'll never be NINJA. I'm sorry I said it. Someone had to bring you back to Earth.

Think about how much money you can save by cutting those monthly subscriptions. It might not sound like much, but doing some simple math you can find thousands of dollars per year. I downgraded my DirecTv subscription and put $50 back into my pocket every month.

2. Find a side hustle

These two look like a mutally agreeable term has been met. Unsplash.com - Sebastian Herrmann @officestock

These two look like a mutally agreeable term has been met. Unsplash.com - Sebastian Herrmann @officestock

You know that thing you've always wanted to do to make some extra cash? The time is now! Hopefully that side hustle is something that doesn't have a high cost of entry as that isn't something I'd recommend. The skills you already have from your job you lost can directly translate to other endeavors.

If you're the type to use your hands, there are plenty of jobs needing labor. With all the remote services available now, businesses need excellent customer service more than ever. Maybe you're a well spoken individual - start writing with us on DriveTribe! Adapt and overcome!

3. Don't overspend on groceries

A well stocked pantry is next to godliness. Unsplash.com - chuttersnap @chuttersnap

A well stocked pantry is next to godliness. Unsplash.com - chuttersnap @chuttersnap

To all of you who went out and bought all the butt-wipe because you got worried there was a genuine issue with the supply: go take a long walk off a short pier. The toilet paper crisis was a consumer fabricated issue from everyone thinking we were going to run out. You know why we ran out? Because everyone went and bought it all! Many of you have too much now, and that's money you could have used elsewhere.

There are plenty of contemporary sources that will try and scare you into becoming a hoarder. Notice I didn't say 'prepper'? The prepper is a smart hoarder. Buy the things you will need in quantities you can afford. The more you buy, the less you can afford. The more you have, the more weight you'll have to carry. Make smart decisions about the groceries you buy and don't over do it.

4. Grow your own food

I've had good luck with tomatos, squash, zucchini, onions, herbs, and strawberries. Unsplash.com - Anaya Katlego @anaya_katlego

I've had good luck with tomatos, squash, zucchini, onions, herbs, and strawberries. Unsplash.com - Anaya Katlego @anaya_katlego

Consider growing your own food. Vegetable gardens can be maintenance intensive at first. Once you establish them, your biggest job will be picking and watering for the season. If you've got more room you could even get some livestock. Return to your agrarian roots and make your own food!

I'd recommend getting smaller animals like sheep rather than larger animals such as cattle. If the wolves come for your livestock, you're better off having many animals than a few. I'd rather have 50% of my ten sheep survive than 0% of my one cow on my small plot of land. You've already thought of this though... that's why the livestock guardian dogs are wearing wolf collars.

5. Save on fuel by walking and biking more

I personally hate running, but I do enjoy a good hike. Unsplash.com - Arek Adeoye @areksan

I personally hate running, but I do enjoy a good hike. Unsplash.com - Arek Adeoye @areksan

I know this won't be popular. Why would I tell people on an automotive-oriented site to drive their car less? It saves money. Gasoline and diesel will add up even when they're cheap. The recent negative price of oil didn't mean they were giving it away for free!

If you live close to work, walk, run, bike, hop, skip, and jump to work. You can get your 'burn on' AND save money by not buying fuel. Limit the amount of times you drive into town by focusing your errands into one trip, or better yet, one weekly trip.

There really isn't anywhere to go right now because the world doesn't want you to be a tourist anywhere at the moment... road trips are pretty much off the table right now unless you're going camping.

6. Don't buy that dream toy, yet

The Ferrari has been priced like radioactive material for years... Porsches nearly got to similar levels Buy these when they crater in value when no one can afford to keep them! Unsplash.com - Joshua Rawson-Harris @joshrh19

The Ferrari has been priced like radioactive material for years... Porsches nearly got to similar levels Buy these when they crater in value when no one can afford to keep them! Unsplash.com - Joshua Rawson-Harris @joshrh19

Hold off on buying any toys. This is the perfect time to save your nickels and dimes for when the Jones' down the street need to sell their prized Acura NSX you've envied. There are going to be people who can't or won't adapt to our current situation and will lose their arse. You'll be doing them a favor by getting them out from underneath their crushing auto payment at a 25% discount right?

In times of a bear market, all the toys come down in value, real estate for that matter too. We haven't seen the deals pop up yet, but it will happen if this continues much longer. I'd love to pick up another dream machine, coveted collectible, or rare antique, once the prices drop a bit more. Cash is king, burn this into your skull. A fist full of dollar bills will help seal the negotiations.

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Comments (12)

  • The Type R is a must need during quarantine. Me need!!

      10 days ago
    • Some would argue it’s still an investment.

        10 days ago
  • I failed the last one. I have brought too many new model trains this year.

      12 days ago
    • Who would have guessed things would have gotten so bad? If you need the money I’d say sell them soon before everyone is expecting a deal.

        12 days ago
    • Their not getting the special edition Stephensons Rocket I brought from hornby for their 100 year celebrations this year.

        12 days ago
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