Instead of committing to a life of frugality, why not spend a month cutting out unnecessary costs, to give your finances a one-off boost? This is something many of us need to do right now, as we isolate at home and see our income plummet. We look at things to stop buying for a month.
With movements outside heavily restricted, some savings will be enforced. I have talked about buying hot drinks out of the house before, and what a waste of money it can be. But that is not really an option right now! Most people will be off the roads too, so petrol costs are down. Travel and holidaying is off, so many will save money whilst making new plans for some unknown point in the future. Social plans are on the shelf too for now. Public transport cost savings will be made too.
For many, drinking at home will be one of the few things to enjoy whilst forced to stay at home. But for me personally, i have little desire to drink on a regular basis. It is not the same without my friends around me! Even if you do drink, it is of course much cheaper to drink at home rather than in a bar or pub. So you can make huge savings.
Online shopping is still an option for us all. But shopping for non-essentials brings moral concerns for me personally. Do we want to give work to warehouse workers who should be at home and furloughed? It is tough, because my actions alone cannot change their situation. They will be in the warehouse, and the delivery drivers will still be out whatever i do. Anyway, another key point is not to treat the pandemic as a holiday, and the loss of a social life as an excuse to treat yourself. Look after your money as you would during any other time.
There are other treats during this period that can easily sway us. for many, food bills have gone through the roof as it is all they are spending on. That is fair enough, and i have spent more getting deliveries and shopping locally. But do not get carried away. Especially so if you find your income lower than before. Try and enforce discipline on your outgoings. You do not want to make your financial situation even more perilous than it already is.