In these uncertain times, it is important we keep our finances in check and try to minimize optional spending. The goal is to ensure you have an emergency fund that can carry you through until we have some normalcy back in our lives once the pandemic subsides. Below are some tricks I hope you find helpful.

1. Negotiate Your Cell Phone Bill

When is the last time you compared your current cellular plan with today's market rates? I am based in Canada and here, cellular providers seem to have dropped rates significantly as the market gets more competitive. In the US, there are already plenty of low-cost options but it's always good to weigh out your alternatives for a better plan.

Another thing to consider, since we're all stuck at home most of the time, if you have WIFI, you're likely not using even close to the amount of data you once did, pre-Covid19. Could you find some savings reducing your data plan?

2. Take Advantage of Interest Relief

If you have experienced job loss or a pay cut, some banks are offering interest deferrals or as far as cutting the interest rates on credit cards in half, or to zero in some cases, while we weather #covid19.

If you have any debt, is there a way you could consolidate at a lower interest rate? If you own your home, consider revisiting your mortgage terms in order to either reduce your payments to get you in a better cashflow position or take advantage of the lower rate to pay down your principal faster with the existing payment.

3. Pay Off Debt with Savings From Covid

If you're like me and driving or travelling has come to a grinding halt, you're likely saving a chunk of money that used to go to gas, car maintenance and/or transit. If you have children in daycare, many are offering reduced rates to hold your spot while your children stay home with you.

Provided, you aren't blowing all your savings on gourmet takeout, alcohol, snacks, work out clothes and skin care products, you could put this savings into your emergency fund or better yet if you are able, pay off your debt with it.

4. Eat More Plant Based Meals

I used to be a carnivore through and through but one day after watching the movie, Game Changers, I challenged myself to make it through the next day eating only plant based food. It was way easier than I expected so I challenged myself to a week, then a month. Now I maintain a mainly plant based diet, but I do eat some animal products like cheese and meat every once in a while. I noticed when I was eating a plant based diet was how much money I saved. What a nice byproduct of saving the planet and improving your health!

5. Grocery Budget

This tip is our family's #1 money saver. By now you have likely given your finances a close look and determined what your grocery bill should be each month. Read my post on how to kickstart your financial plan to help you align your priorities. The 3 largest bills we face each month are generally housing, groceries/food, and transportation. One of the easiest to control is your grocery budget. I am obsessed with the recipe site, Budget Bytes and have found several meals that we now have on our weekly repertoire.

At the beginning of the month, I look at our food budget and divide into a weekly target. I plan all my meals for the following week in about half an hour or less. I've been making a lot of awesome meals that we aren't ready to drop (because they are so tasty!) so I created a 'standing order' with the grocery delivery service I use, and for doing so, I get a 5% discount. I'm in Vancouver, Canada and I use Spud.ca . Up until the day before my groceries are delivered, I can make changes to the order...sometimes we run out of things, so I need to add them or we don't need things any longer that are on that order so I can remove them. I love it because I can see very clearly what my grocery bill will be and can make changes as necessary to stay on budget.

6. Stop Online Shopping In A Bad Way

For some, this one might be harder than it sounds. During these days of self isolation, many people might be self medicating with the dopamine high of online purchases. From what I have noticed, these include seemingly justifiable purchases like workout clothes, expensive make up or skin care, or home decor. If you can recognize the motivation behind your purchases and differentiate between a frivolous spend and a truly justifiable purchase, you will reduce your chances of going over your monthly budget.

These aren't easy times and we are all trying to watch our outgoing moola. Leave a comment or email me with ways you've been able to save money while in isolation. Would love to learn some more tricks!