Save Money For Your Family After COVID 19

Written By Alla Levin
August 05, 2020
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Save Money For Family After COVID 19

COVID 19 has hit us hard. Many people have suffered job losses and other issues which have inhibited them from paying bills on time and moving forwards with their life.

There are ways however to turn this around and start saving money and collecting more money for a happier future for your entire family.

Here are some traps you may fall into and how to avoid them.

Food shopping

The supermarket is the biggest trap of most consumers (especially women). You are supposed to go for two things and in the end, you end up with the cart full.

The funny thing is that when you go home you wonder what you bought and paid so much money for.

One solution is to prepare a strict list and follow it as faithfully as possible! Look at shopping at smaller markets too to avoid spending huge prices on fruits and vegetables. 

Energy efficiency solar water heater

We may find the cost of replacing our old refrigerator or washing machine with a new, better energy class like the A +++ high, but such home appliances have offered us a great promise on savings to the electricity bills. Is it true?

It can have an impact, yes. Indeed, if we make a rough calculation of their consumption in relation to the use that a home makes on an annual basis, we will find that we should probably think seriously about it.

There are chores that are done at home on a daily basis such as washing clothes and cooking. It is good to take advantage of the discount on the night electricity and plan them for these hours.

The installation of a solar water heater will help us even more in saving energy and money.

It is also good to change the lamps of our house with new led technology that have much lower power consumption without reducing the light intensity.

They may be a little more expensive than the simple ones but they are worth trying.

They are especially good in the spaces that we use a lot but also in outdoor spaces that we may forget to turn off, these led lamps will save us money effortlessly.

Also, we are saving and protecting the environment too. 

The good insulation of a home is the A and the Z in terms of economy. If our house has old frames or single glazing, it is good to schedule their replacement.

It is clearly a big enough expense, but it will definitely make us white-faced when we see how much savings we make.

With many new programs appearing, you can do this for much cheaper than you could once upon a time. 

Save Money After COVID 19: Sell Annuity Payments

To get a little money back, you could look at selling annuity payments. If you sell annuity payments, you can take a bit of control back.

It is a fixed sum of money that is paid to a person each year generally for the rest of that person’s life.  If you want to buy a new house or send your kids to college this could help. 

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