Saving money in a bad economy

Ummigal

Verified member
Saving money isn't really that easy unless you started it at a very young age. On normal circumstances people usually find it quite difficult to save money let alone in times of economic hardship. They are all about some effective ways through which one can save money during economic crisis examples are:
Doing most of the things used to pay for yourself: cutting down expenses is very important when in a situation of economic crisis. you wouldn't want to spend your money on things you can actually do yourself. Work like washing your clothes the car and sweeping the house should all be done by you.
Minimize the time you spend on social media: social media is one of the top consumers of time and money. In in times of economic crisis it is very important for one to cut down with use of social media so as to save money used for frequent subscription.

Plan your budget well and track your savings: in times like this it is very important for a person to plan his body so as to cut down the unnecessary ones and focus more on the necessary ones. Tracking your savings can also help you keep track of the amount of money you spend per day.
 

Sotherefore

VIP Contributor
Saving when there is a bad economy may really be difficult for people to save money especially those people that are not earning good amount of money every month .the best things that can help you at this point is to find a business or Side business that you can combine with your main work to have two source of income.
 
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btaliat

VIP Contributor
To be very honest, it is not easy saving money during the period like this where there is inflation and bad economy in general. The price of almost every thing has doubled. The only thing to be done in this era is just to have multiple income because saving is a must for someone thinking about his future.
 
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Abigael

Valued Contributor
Personal financial management is truly very important now that the economy is getting harder and harder. So as much as you are earning something online or offline, you need to budget it well so that you don't end up being broke. Managing the time you spend in social media is really great. Especially of you need the data subscription to make money online.
 
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Nite

Verified member
The thought of being hit with an economic crisis can keep anyone awake at night. However, the prospect of something like this happening can become less stressful, if you're properly prepared. Setting a monthly budget will help keep the track of all your financial health. Got to agree, that our focus should be on all the necessary things to buy first.
 
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