Balancing spending: how to manage the budget in times of crisis

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Balancing spending: how to manage the budget in times of crisis

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It is no longer news to say that the Coronavirus came to change the way we live and how we handle our money. Many people are working home office, reducing the hourly workload or even losing their jobs in recent months

Thinking about it, in partnership with Guide, we separate which expenses that can increase or decrease in times of crisis, in addition to four tips for dealing with changes.

Spending that can increase

Expenses such as market, water and energy bills have already suffered and may continue to suffer an increase in the coming months. If you are doing home office, already realized that bills like energy and market must have increased.

In the first week of the quarantine (03/16) the average market spend was R $ 330 and reached R $ 397 in the second week of April (04/13). The reasons can vary, from increasing the number of people at home to the fact that some are stocking up on food.

Spending that can decrease

Leisure, travel and personal care have already been cut in recent months and are expected to continue to fall. In times of crisis, some expenditures were prioritized, leaving others aside. In addition to the impossibility of consuming some services such as restaurants, the reasons can vary from the reduction of salary to the possible creation of emergency reserves for the coming months.

What you need to keep in mind at this point is that you have to be more careful with your money. Therefore, we have separated four easy tips that can and will help you save.

Saving Tips

1. Have a spending limit

Market spending has increased, but you will have to learn to deal with it. It is important in this case to establish a limit and follow it throughout the month to see if it is not exceeding the agreed. You can do this planning in the spreadsheet you already use or in applications, such as Guiabolso.

2. Do not fully exchange one account for another

It is not because one of your expenses has decreased that another has to grow at the same rate, so always be in control of how much you have spent. If possible, savings should be made at this stage.

Be careful not to let other expenses increase unnecessarily, as is the case with online shopping. Get out of promotions emails to take less risk of buying without needing to. Another tip is to wait 24 hours to close the order. If in that time you think and still evaluate that it is necessary, that's fine. But we are sure that in many situations you will see that it is possible to wait a few weeks or months.

3. Go to the market with list

I know it sounds silly, but having a list with everything you need to buy helps you to be more focused on the market and not spend on nonsense. In addition, letting accumulate the amount of things to buy at once can help you get discounts at the time of shopping, in addition to taking care of your health at that time.

Reducing the trip to the market can mean savings of 30% in monthly expenses with the category.

4. Cut some services

Who has never paid a very high price for the service that the operator offered without even using it properly? Quarantine can be a good time for you to reevaluate that expense. The internet at home has already met some of the needs, for example. Thus, it is often not even necessary to have a plan with so much internet.

The bank fee seems small when looking at the monthly value, but it is huge in the accumulated of one year. A survey by Guiabolso, published in Valor Econômico, showed that the UK residents pays an average of R $ 900 in fees to keep the current account and card in one year.

Digital banks can be a solution. In addition to the fact that many of them do not charge fees, they are practical solutions for you to have in the palm of your hand.

  • Credit Card Annuity

Nowadays there are many types of credit cards that have no annual fee. Some of them have benefits, such as cashback (part of the purchase money returns and gives discounts on the next invoices) and points programs, which compensate the tariff. But if you don't think the account is worth the benefit, take advantage of the quarantine to cut this expense already.

Having leisure options at home is important in this quarantine, but you can make choices: do you need to have 3 streaming subscriptions or a complete cable TV package? Consider reducing these services and cutting them in more drastic situations of tight budget or if you are not watching that much TV.

Internet packages increase over time and sometimes we don't even realize that we could be paying cheaper. Go to your operator's website and see the options available. We often find cheaper plans that serve us very well.

One last reminder: individually the values ​​may seem low, but all this savings helps you to form or expand your emergency reserve, something so important for this moment of uncertainty.

Did you like the tips? Then share on your social networks with friends who may also need this information.

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