5 Smart Money Moves Anyone Can Make From Home

Nobody is immune from the economic fallout. That said, there are plenty of smart money moves you can make while at home. Here are the 8 best we’ve found:

Nick Bryant - Published 18 Days Ago

1. IT'S TIME FOR A STREAMING AND MONTHLY CHARGES CHECK-IN

I’m a sucker for a monthly streaming or entertainment service. I’m also someone who will pay the monthly fee for an ad-free experience on music and other services. My thought is “it’s only $7 a month” or whatnot. But in hard times, those “only $7 a month” can add up.

I saved more than $30 a month just by dropping down to the free ad-supported model of a music service and cut out the two “lesser watched” of the four movie/tv streaming services I used to subscribe to. And you know what? I barely noticed the difference.

2. SET A BUDGET AND REVIEW REMINDERS

If you have a budget, it’s time to review it. Because that’s how I found one of those two streaming services I cut (I had forgotten about it.) Reviewing your budget will let you see exactly what you are willing to live without.

It also goes without saying that if you have not yet set a budget, right now is the perfect time. You need to track every dollar.

3. MAKE FOOD GO FURTHER

My grandmother lived through the depression, and never threw away any food – everything was reused later for leftovers, soup, etc. I have to admit that I was always too lazy to save/reuse food, and I know I’m not the only one. But now I’ve seen the wisdom in it. I typically would throw away the part of a grilled steak I didn’t finish (I never liked leftover steak), but just the other day, I made an Asian pepper steak out of the leftovers. Know what? It was great and saved me money.

I learned about saving food. You should too.

4. TAKE ADVANTAGE OF GOVERNMENT PROGRAMS

Unemployment insurance got a nice boost from the federal government, and if you lost your job, it goes without saying you should apply. Even if you think you aren’t eligible, the rules have been relaxed, so apply anyway.

Further, if you own a business, you should DEFINITELY investigate the government’s SBA loan program for payroll that doesn’t have to be paid back if you use it to pay employees. This could be the difference between your doors staying open or closing.

5. CHECK IN WITH YOUR CAR AND HOMEOWNERS INSURANCE RATES

Truth be told, if you are a homeowner, you’ve probably had your same homeowner’s insurance since the day you closed on your house. It’s just not something we check. But you should, because homeowner’s insurance has evolved (for example, HOA discounts, discounts for having fire extinguishers, etc.)

The same goes for your car insurance. Checking out competitor rates is easy, free, and it can save you more than $600 a year. Most people overpay for car insurance, especially if they continue to use their old daily mileage, so do yourself a favor, and stop overpaying!

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