I know that you, like many others, made financial resolutions at the beginning of the year when it comes to your finances and sending habits, resolutions that you probably forgot say 3 days into the new year when your old habits came calling because they die hard.

However, the times we’re in right now call for more than just a resolution. You know that by the uncertainty of the times we’re in, now more than ever before, every penny counts and dire times call for even more stringent policing and management of your finances.

So let’s look at some practical tips to implement, ensuring that your last pay check that just arrived can see your through for a stretched out while and that your savings aren’t maxed out in no time:

Top to bottom; rank your expenses by order of priority, importance and indispensability: Some expenses are a must do, while others, you can go around them by simply applying your discretion and prudence. To do this, start by tracking what you spend money on and then rank that list of monthly, recurring and one-time expenses in order of importance.

Put essential expenses you “need” at the top – that’s what you can’t live without, such as housing, food, transportation and child care.Then rank savings for emergencies followed by “wants,” or nonessential items, which may include your Netflix streaming service(Yes I know we’re mostly home and bored outta our wits, but if you apply your streaming fee to taking an online course that better helps to sharpen your skills or acquire new skills, isn’t that a better investment which would yield more income for you in the long/short run?)

Do a re-check of your list under a microscopical that catches everything: Go over your list and challenge every outlay. Consider how much are you paying, as well as whether you could pay less or cut it out all together.

That includes whether you really use all the subscription services that you’re paying for or that online gym membership, when you could probably to free YouTube workout videos. If you don’t use it, lose it.

Further, is it possible to negotiate a better rate on recurring expenses — often it is and the savings shocking to you might be significant.


Good riddance to your wants: Once you’ve streamlined the list, start cutting a few expenses that you just want and really don’t need — at least temporarily. For instance, now that we’re all locked down at home, do a comparative of analysis of how much you spend on cooking your own meals now than when you used to eat out on a daily.

Your goal to achieving this should start small, stay on this route/budget tightrope budget for a day or a week, then reward yourself with something that doesn’t cost much. That would serve as an incentive and propeller for you to see this through to the very end.

Show impulse buying the way out: Light bulb moment: Impulse shopping, is often the worst budget buster. One quick way to put that in check is to sign off/maximise social media, at least to some extent. The allure of advertising and flashy things on social media is SO real!

Overall, 63% of millennials think social media has a negative influence on their financial well-being, according to a millennial money study that polled more than 2,000 adults ages 22 to 27.

Many millennials have splurged out cash, buying things they weren’t originally planning to on products they saw in their social media feed. A huge percentage of young adults also spend money they don’t have or funds that should go to other key areas, sending them into debt to keep up with their peers.

So starving yourself off social media if you have too, or blocking out spending triggers on their spaces is the way to go in slowing down impulse spending.

Purge your cash: Call it the Corona Cash Diet if you have to(CCD), but commiting to these simple lifestyle changes just as you would when you know you desperately have to lose that 5 pounds, but with this being even more crucial can help you save hugely over the course of the year.

It’s important to have some cash at home this season, just in case,but limit your mobile app usage as much as you can, using these when you only absolutely have to.

And now that’s you’re no longer on office WiFi doing your personal business(yes, we’re all guilty of this), regulate your internet usage except it’s for things that truly better you. At the end of each day, check in on your data usage and see how well you’ve done for yourself or how ashamed you should be. Lol.