Here’s What to Trim (and What Not to Touch) From Your Budget Right Now

[Daniel E.]

https://www.nytimes.com/2020/04/28/smarter-living/heres-what-to-trim-and-what-not-to-touch-from-your-budget-right-now.html

Start by reviewing your three biggest expenses: housing, transportation and food. If you have two cars, you can reduce or cancel the insurance for the one you're not driving. (Just be aware that some states require you to turn in the plates for the car, so it will take some time to reinsure it.)

Your restaurant budget should have dropped significantly now that many businesses are closed because of the outbreak. If it hasn't, think about cutting takeout...

A certified financial planner...recommends that homeowners with good credit and stable incomes look into refinancing while rates are low. Renters may be able to negotiate on payments, according to Mr. Sethi, who has heard from several of his readers that they've had rent reduced or even waived after reaching out to their landlords.

 

[Daniel E.]

https://www.forbes.com/sites/allbusiness/2020/04/22/how-to-reduce-or-delay-paying-your-bills-during-the-covid-19-crisis/

Now is the time to reassess what services you are paying for and budget for the new financial reality.

Consider the following:

• Can you cut the cord on your TV services?
• Do you really need a landline phone?
• Do you really need multiple music streaming services?
• Can you cut down on takeout food?
• Are there cheaper alternatives for some of the services you are paying for?
• Are your service providers willing to renegotiate payment amounts?
• Is it time to quit smoking cigarettes given how expensive they are?

 

[Daniel E.]

After I cancelled Audible, they offered me a two month free trial

 

[Daniel E.]

Re: Here's What to Trim (and What Not to Touch) From Your Budget Right Now

Don't simply count on a second round of stimulus checks--here's what to do instead

Once you’ve cut back your spending and lowered your bills as much as you can, prioritize where the money you do have is going, Aliche says. To figure out which bills and expenses you need to pay first and which you can delay, Aliche recommends asking yourself two questions: If I don’t make this payment, will I be unhealthy? If I don’t make this payment, will I be unsafe?

If the answer is yes to either of those, pay that bill as best as you can. And again, if you haven’t already, look into the many assistance and payment deferment programs that utility companies, cell phone providers, lenders and landlords may be offering.

 

[Daniel E.]

Re: Here's What to Trim (and What Not to Touch) From Your Budget Right Now

Some of my favorites from 100 Frugal Habits to Live By, If You’re Trying to Save Money:

• Buy new inserts for your shoes.
• Double a meal you’re cooking and freeze half.
• Save leftover coffee for making iced coffee.
• Use rags—made from old clothes or linens—rather than paper towels.

 

[Daniel E.]

Re: Here's What to Trim (and What Not to Touch) From Your Budget Right Now

BTW:

America's billionaires could pay for most of Biden's coronavirus response plan with just their pandemic profits

The combined wealth of billionaires like Elon Musk, Jeff Bezos and Mark Zuckerberg jumped almost $1.1 trillion since March