We all are witnessing bad days in the year 2020 due to COVID-19. This problem is getting worse day by day. But we can take some effective steps to stay safe and also to be more strong financially.
Including India, many other countries' financial situation is getting affected. But in this situation we can take some frugal actions to control this situation.
I'm Ankita Kamat, founder of FRUGAL BEAT. As a youngster I would like to share some important points here so that together we can create a better life for us in the near future.
7 Winning Frugal Tips Amidst COVID-19 Scare
I feel that COVID-19 is not less than the World War III. In fact, these times are very critical for all of us. But first things first- you must stay safe by following all the suggestions of WHO and the Govt.
Now it's our responsibility to take care ourselves. And along with this now it is also our responsibility to think about our economy. I personally feel that one should start to inculcate frugal habits in this situation.
Let me share some frugal ideas which will help to boost your financial growth and thereby the economy of the country will recover from this rescission 2020.
- Stay at home but make money online
- Follow frugal food habits
- Start to save money without excuse
- Don't waste the natural resources
- Make money as a student
- Start to learn new skills at home
- Improve your financial literacy
Stay at home but make money online
In this situation we should stay safe by staying at home. But along with this you can do so many things which will help you to make money. You don't need to go out of your home to make money.
There are so many interesting passive income ideas to make money online. So instead of using your phone for chatting, for entertainment you can make create some income sources for you.
Follow frugal food habits
Well, this current situation is teaching us to maintain a healthy food habit and boost the immune system. So take it as a lesson and start to inculcate good habits when it comes to food.
Stop wasting your money on junk food. Also from now onward avoid eating out side food as much as possible. Well, according to some survey an average teenager spends $1040 per year only one eating outside food.
So start to save money on food by adapting to frugal food habits.
Start to save money without excuse
Some youngsters always think that this is very early to think about savings. But let me tell you that I started saving money during my schooldays. And saving I believe that the early you start the early you grow financially.
And today's situation is really different. The whole world's financial situation is getting affected. This will affect on individual financial growth as well. So start to save more money from now.
Don't waste the natural resources
Frugal living is not just about saving money. But it is also about saving our natural resources and nature. The more we respect the nature and protect it that will be good for all of us.
Think 100 times before harming this nature and wasting natural resources. By following frugal habits make this planet a better place to live in.
Make money as a student
Due to COVID-19 now college and school students have no classes. And even students should stay at home to be safe. So instead of wasting your time indoors learn to make money online as a student.
There are many opportunities for students to make money. So you can be financially independent as a student.
Start to learn new skills at home
Nowadays all of us have access to the internet. So make use of this opportunity to learn new skills for free. These skills will help you in your career on or the other way.
You can watch YouTube videos or get many educational free courses online to learn new skills. Daily spend a few hours to make yourself better. Learning new skills will also help you earn money in different fields.
Improve your financial literacy
I feel that everyone should constantly improve one's financial literacy. I always read money-related books to know more about investments and passive income. So I suggest reading good books and also be aware of new financial schemes in the market.
Know what's happening in the share market. Well, now you can see that how the share market facing bad days. Always try to stay updated about the economy of your country.
All these information will help you to improve your financial literacy. Then you can handle your money well and can take the right financial decisions for you.
How has the coronavirus outbreak disrupted your life? And how are you dealing with it? Write to us or send us a video with subject line 'Coronavirus Disruption' to email@example.com