How to Be Set Up for Success After COVID-19 | St. Johns Bank
In a time of uncertainty, such as this one, there is a very good chance that money is at the top of everyone’s mind. Not knowing what can happen next is unsettling, but using this as an opportunity to take stock of your finances can be beneficial now and in the future.
Our team at St. Johns Bank has come up with some ways to help you and your family reassess your financial situation during the COVID-19 pandemic:
Keep Bills at Home at the Forefront of Your Planning
You’ll probably be staying home more, which means lower gas bills, and depending on your car insurance, you may receive an allowance or discount during this time. However, because you may be staying at home, there is a chance that your standard household bills may increase.
Here is how to be proactive in saving some dollars with these bills:
Cancel monthly subscriptions you may not use or need any more. You may be using Netflix and Disney+ more frequently these days, but your gym membership or clothing subscriptions may not be used or may not be as essential. Cancel these to save some money, even if temporarily.
Watch your energy bill. If you’re working from home, your electronics will be on more regularly. This is especially true if you have children in the home, since they will be using more electricity than normal for gaming, tablets and computers for school work. Keep in mind that this will be an added expense you otherwise would not have, so try to find other ways to lower your monthly electricity bill like using a slow cooker or your grill instead of your oven to prepare meals.
Opt for grocery delivery or pick-up instead of takeout. While the days are long and the load of working, homeschooling and housework can be overwhelming, takeout can be very expensive and could be an opportunity for you to save some money. If you are able, try sharing the responsibility of cooking with others in your home or those outside of your home that you trust to do a meal swap. There are also lots of frozen or ready-made options available that are both cost effective and healthy.
Our team at St. Johns Bank is always here to help. Contact us today to see how we can help you and your banking needs during these unpredictable times.