Looking on the bright side of things: Unintentional savings during the COVID-19 lockdown

Another day of social distancing, self-quarantine, and isolation is in the books in hopes of curbing the spread of COVID-19.  The debate continues in Washington, D.C. on how the economy should be propped up, and the stock markets took a little more of a stumble today, which is seeming the new normal.  This prompted me to think about controlling my outgo as opposed to hoping for a government bailout.  This lockdown of society is helping me to spend less.  I thought about how my inability to go out to dinner with friends, shopping malls, or the movies has cut my spending in recent days.  My gasoline usage is down about 90% from normal.  Not to mention the fall of oil futures has impacted the price we are seeing at the pump, which is compounding the savings. 

I did go out on Saturday, sanitary wipes in-hand, so that one of my Great Danes could get her scheduled vaccinations, and happened to be near the Home Depot.  I stopped in for a few items needed to get some things done around the house.  Besides reading, homework, and intensive home sanitizing, I have been able to get outside and start some spring projects such as pruning and recovering the backyard from the dog-pee fest that gets left unchecked because of the cold weather.  One of the Items I picked-up at Home Depot was a Simple Green Outdoor Pet Oder Eliminator.  This was my cheap Saturday entertainment! 

Normally, I would be going out the get lunch and hit up multiple grocery stores for sale items and impulse my way over budget.  However, to reduce exposure to the outside world, I made a list and sent my roommate and friend out to execute my list, which saved me money because he is great at not adding extra items to my list.  I also didn’t get to go to other stores like Marshall’s, Target, or Kohl’s for the same reasons, or the fact they are closed.  To boot, I have been eating at home since I’m working from home, which is saving me at least $10 per day over going into the office.

Your savings could be growing! Image courtesy https://www.myfinance.com/how-to-save-money/

I also have been making due with what I have because it is more difficult to just pop out to the store.  Instead of shopping for a new rug for my office that was recently re-arranged to make it more work-from-home friendly, I remembered I had a rug shoved under my roommate’s bed.  Albeit, it is eventually going back to the living room when my roommate moves his stuff out, it’s better than nothing under my office chair, which has a tendency to mar the floor if not on a rug.  Quite often our propensity to easily go out and buy something new makes us forget about old things stored away in closets or the garage.  I am planning to use more of this time to go through and really assess what is needed and what can be donated when this all passes.  You may be surprised at how those clothes fit that you put away two years ago?  Maybe you’ll fall in love again with that pair of jeans or a shirt that you had forgotten about?

In this time of uncertainty, get your mind off the news and think about the bright side of things.  Maybe you are like me and working from home and saving all that commute time?  If so, make sure you are using that time productively.  Make more food at home, try to resist ordering out unless you are financially secure and just have those funds in your budget.  We will make it through COVID-19 and eventually, things will return to normal. 

Have you been able to save money on day-to-day expenses like food, gas, or groceries?  Have you been able to cut childcare expenses if you are working from home?  Reply to this blog post and let me know! 

Author: wvance3

William is a corporate Accountant by day and a lover of Great Danes, gardening, personal finance, and home projects at night and on the weekend.

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