Financial Lockdown: 4 Ideas to Live a Little More Frugally Whilst Stuck at Home

in Lifestyle

Current events have left many of us wondering when and if anything will go back to normal. Whether you’re currently out of work, furloughed or working on the frontline, if anything is going to be highlighted during this period, it’s the current state of your finances. It’s a cause of concern for many, whether you’re home-schooling your kids or trying to have business calls in your living room.

Now has never been a better time to save money and live a little more frugally. And the time you spend at home could be the perfect opportunity to take a long hard look at your finances and see where you could make some improvements. Read on for 4 ideas to help you live a little more frugally whilst stuck at home.

Consider a stocks and shares ISA

If you do have savings, or you’re looking to free up money from your monthly budget and put it aside, then putting it in a classic savings account seems sensible. However, those who choose to invest their money into stocks and shares ISAs are at an advantage. Not only do they not have to pay tax on their savings, but you can deposit as much as £20,000 a year. If you have the money to save, you should make it work for you.

Cook more

You’re stuck at home and heading to the supermarket is much more of an expedition these days. Therefore cooking from scratch doesn’t seem overly appealing. However, instead of reaching for a takeaway menu, or opening up that app on your phone, you should consider the savings to be had! Cooking meals from scratch is much more cost-effective and you’ll save much more money each week simply by creating a menu and sticking to it. Check out our chilli and garlic edamame recipe!

Wear what’s in your wardrobe

You’re not planning on going anywhere fancy any time soon, and any work calls you take at home can be done in the simplest of attire. Therefore, hold off any clothing purchases, especially those ones done out of boredom! If you’re looking for kids clothes, try buying second hand online.

Make use of free services

Whether you’re looking for home workouts, study materials for your children, or even interactive and entertainment online, you don’t need to rush to subscribe to anything. You’ll find a whole host of free resources online, from daily P.E. lessons with personal trainers to math, English and art lessons. There are plenty of ways you can keep the kids entertained too, without paying for more streaming and game services.

Image Credits: Micheile Henderson

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