Dealing with the ‘Money Matter’ during COVID

With so much of diversity in the world, COVID, in a way has brought some similarities in our lives. Almost everyone in every corner is experiencing a lockdown in some way. Every economy is fighting to keep up. All the ‘work from home’ professionals are missing going to their offices. But the most common issue which we all are experiencing (in different degrees, of-course) is the cash crunch.

This issue becomes messier for those who have just stepped into the ‘real world’ of professionalism. Our expenses are still piled up and our savings are tumbling. With the added insecurity of jobs, handling our money in a more responsible way, has become a must now.

Say no to COVID in hampering with your daily finances today! Here are a few tips on to deal with your money during the COVID:

  • Budget Your Earnings
    Plan a budget to make an efficient use of your earnings. Ideal budget would be 50/30/20. 50% of your earnings can go to keeping up with your necessities like food, rent, etc., 30% can go into what you want (travel and other non-necessities) and 20% can be your savings and/or investments.
  • Budget Management Apps
    If you are a stickler for rules, the budget management like Mint, Pocket Guard and GoodBudget are just the apps you need. They set your budget in accordance to your earnings and help you keep track of your expenses and savings.
  • Stop Hoarding
    We all have stuff at our homes which we keep in a hope of using them ‘someday’. Avoid this unnecessary hoarding. It takes up unnecessary space and can be a good opportunity of making some extra cash. You can sell-off these at OLX and Quikr.
  • Credit Cards
    While avoiding a cash payment only seems logical right now, it shouldn’t be done at an expense of creating a mounting debt for the future. Limit the use of your credit cards to buying your necessities so that you are not burdened with a hefty payment in the future.
  • Don’t Order In
    It is both unsafe and an avoidable added expense. Avoid going to restaurants all together and limit ordering food online. Manage your meals at home daily and cook in.
  • Visiting a Grocery Store
    Plan your visits to the grocery store. Keep a small diary or notepad around you and keep tabs of all the items in your home that you need from a grocery store. List anything which is about to go out. This way you wouldn’t have to go to the grocery store constantly.
    Keeping a list with you will help you buy in bulk which may let you avail discounts.
  • Avoid Luxuries
    A peg of scotch after a hard day at work hits you right there at the spot. But you will have to avoid treating yourself with these luxuries for a while.
  • Some Mandatory Expenses
    COVID has taught us to keep our health a priority over everything else. So, don’t let the current cash crunch let your insurance premiums lapse. Some people might find the health insurance provided by their employers enough. But with the job insecurity today, it is all the more important to invest in your insurance.
    Furthermore, if you let your premiums lapse now, then re-buying it in the future will be costlier.
  • In-House Hacks
    Why go out when you can manage almost everything inside? Going out is very unsafe at the moment so, opt for the things that you can manage at home. Cook more rather than ordering in, exercise at home and avoid going to a gym, wash your own car.
  • Share an Apartment
    Newbie professionals and students find it difficult an affordable accommodation especially in the metropolitans. Share an apartment with like-minded people around you to save some extra bucks and have a growing co-living experience.
  • Embodying Empathy
    Our home-helpers, vendors and others are in a much bigger tug of war against the money issue right now. It is necessary to work with an empathy towards them. While you might think it will be a good way of cost cutting to let go of your helpers at home; it might affect their entire survival.


Taking the current situation as a cation, planning for the future to deal with these situations in a better way becomes prominent. We are lucky to be people of means and a little management can drive through a long road and help us iron out these wrinkles of today.

Aiming to find artistry in anything and everything; be it words, canvas, thoughts, or even real-world economics.
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