4 Budgeting Items to Watch During Quarantine
How's quarantine treating you? While we're surrounded by negatives, there's one major positive my clients have seen...
They're spending WAY less money right now!
If you're like most of my clients, the amount you're spending on gas and entertainment has drastically decreased. However, there are a few areas of spending that I've seen spike up over the past few weeks:
There are a few major reasons your grocery spending has increased. You're home more, so you're eating more (obviously). But a few other factors have come into play. Since we're trying to stay home, we're naturally going to "stock up" on groceries while at the store. You also may have noticed your normal brands are out of stock, forcing you to buy more expensive items.
If you're like me, you call this "supporting local small businesses." However, I noticed we usually support local business when we forgot to thaw meat for dinner.
During this time it's important to set a boundary around how much you can spend at restaurants. If you need to increase your budgeted amount, that's okay. Just stick to it.
3. Online shopping
We're bored! Not only that, but at some level we're all grieving. Life has changed drastically, and the future is unknown. It's natural to self-medicate with online shopping.
Try to avoid hopping on Amazon whenever you have downtime. Or, like in restaurants, budget a certain amount to spend on online shopping. It's better to plan on spending money online than to pretend like you won't, and do it anyway.
You should be receiving your first quarantine utility bills soon. There's a good chance the numbers have spiked up since you've been home.
Try doing things like increasing the thermostat temperature, turning off lights, and unplugging electronics when they're not in use.
Focus on controlling the controllable things in your life. You've got this!