Lost Your Job to COVID-19? Tips on How to Survive Financially in Chicago
As of this month, unemployment rates in the US are at 7.1 million. This massive spike in unemployment is credited to none other than COVID-19, which is negatively affecting businesses and corporations. Many “non-essential” businesses were forced to lay off percentages of staff to stem the bleeding. Unemployment is not just a United States issue; however, this is a global problem that many are facing in the wake of the pandemic. If you were impacted by layoffs, it’s hard not knowing the next time you will be paid is stress inducing, and you may not know what to do next. Here a few tips on what you can do to save money.
Cancel Subscriptions
While binging Netflix or Hulu seems like the only thing to keep your sanity while being stuck at home, consider how much money you are spending on a monthly streaming subscription. Netflix’s cheapest plan is $8.99 a month, Hulu is $5.99 a month, and Disney+ is $7 a month. If you have more than one streaming service, consider keeping only one. Trimming down on subscriptions is a great way to save money that you could be spending on essentials, like groceries. Instead of paying for entertainment, you can also use free-to-use services like YouTube or Twitch. YouTube offers a plethora of video content from independent creators to TV shows to movies, just bear in mind some things are paid. Twitch is a great platform for independent creators, whether it’s gaming or creative from art to baking. If you’re into sports, consider getting into esports, which is streamed both on YouTube and Twitch.
Sell Your House
If you’re a homeowner, you can easily sell your house, and quickly. Companies that buy houses like We Buy Ugly Houses will buy houses with quick cash-only offers. The best part is that unlike using a realtor, there’s no closing costs or repairs necessary. You can also stay safe by opting for a virtual tour of your home to reduce contact. Selling your home is a great option if you need cash as soon as possible, and you can look to downsize or rent cheaper elsewhere afterward.
Save on Your Water Bill
It might not seem like you’re spending too much on your water bill at one time, but it adds up. Every penny saved from your water bill is a penny for you to keep. One of the easiest ways to save money on your water bill is to fix leaky faucets. If your faucets are leaking, it can be up to thousands of gallons of water wasted over the course of a year. You should also turn off the tap while brushing your teeth or shaving at the sink. Take showers over baths and take shorter showers – limit your showers to only a few minutes. Wash clothes only if you have a full load of laundry to do. The same goes for dishes in a dishwasher, or you can wash dishes the old-fashioned way: by hand in the sink.
