Written By: Maria Lopez, FLP Foundation Mentor, Spanish Conversation Partner and Social Media Consultant
Edited by: Shatoyia Jones,FLP Foundation Self Development and Multiple Streams of Income / Generational Wealth / Passive Income Mentor
COVID-19 has changed our world. Parents have gotten used to homeschooling their kids, students are now expertsin zoom and we officially entered an era where everything is digital. One of the biggest consequences of thispandemic has been the financial hardships for families and individual across the world. This time is the perfectopportunity to cut down expenses, save money and buckle down on your financial health. Here are some helpful tips to help save money during this time:
As part of the saving process during these times, you might want to consider
opening a savings account. Somewhere where you can store cash in case of an emergency or simply for the
future. If you are still working full time or part time from home, try to put a certain percentage of your
salary each month on your savings account.
2. Set a Budget
First Ladies of Poverty Foundation (FLP Foundation) offersfree resourcesthat you can easily access regarding financial planning.
In addition, we offer 1:1 financial planning mentor-ship and assistance from our financial experts and mentors,Danielle Tucker,all things financial planning agent, Frances Frazier, alternative cash flow strategist and passive income mentor,Shatoyia Jones.
3. Get a Side Gig
4. Be Aware of Emotional Shopping
- It is best to eliminate subscriptions from your brands.
- Temporarily eliminate store apps.
- Eliminate credit or debit cards that you have saved in your computer that way you feel less tempted to buy something online.
- Always ask yourself why you wanted it? Is it going to serve you in the future or just a few weeks?
5. Make a List Before Going to the Supermarket
Make sure you go to the supermarket with your list in hand and that you stick to it. It easy to write down it, but it might be that easy to buy exactly what is on the list. In addition, try to buy generic brands. Most of the time, generic brands are almost the same as known brands, the difference is in the price.
6. Take Advantage of Coupons
you go too. There are certainly a lot of websites you can go to for coupons including the following:
7. Negotiate Your Contracts
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