The economic world seems to take dips and dives all of the time.

As the market fluctuates, times of crisis lurk in the darkness. These things are beyond our control, but we can control how we prepare.

Here are 14 brilliant saving money ideas to help you in times of crisis.

14 Ways to Save Money in a Time of Need

1. Lower Your Car Insurance.

You can lower your car insurance. During the pandemic shutdown, many people didn’t drive their cars for days or weeks at a time. One of the things car insurance companies use to calculate the cost of your insurance is how many miles you drive. If you’re only using one car in a two-person household, you can even take one of these cars off of insurance until you both start driving again.

2. Switch Credit Cards.

Switching credit cards might sound like a crazy idea when you’re strapped for cash. When you’re paying a balance plus interest charges, your bill adds up quickly. Keep a lookout for credit cards that offer a 0% introductory APR.

You can transfer your balance to a new card without all of the additional charges. Keep in mind these offers will expire. Sometimes the new card won’t allow you to transfer over the full amount. If so, give priority to the card with the most money owed.

3. Subscription Services.

Monthly subscription services can eat away at your bank account. Check out the ones you aren’t using regularly. You might be paying for a music streaming service or a subscription box that you rarely use. During a time of crisis, you may not have the assets to be able to just set things up and forget about them. Decide what you truly use and ditch the ones you don’t.

4. Meal Prep.

The best thing about meal prep is it’ll help you get fit while keeping costs down. Eating takeout weighs on your pocketbook. Make meals at home by planning ahead of time. Don’t waste money by getting random things at the grocery store. Make a list, and stick to it. Then you’ll be able to put meals together for the family or yourself using exactly what you have.

5. Diversify Your Investments.

It’s tough in a crisis to think about investing in anything. It’s actually a great time to diversify your investments. Once a crisis hits, if your money is tied up in the stock market, you could be in trouble. Go through your investment portfolio. Your investments should be spread in different industries. You can also place your investments in real estate.

6. Get fit for Free.

You don’t need a gym membership to stay fit. You can get fit for free by working out in your home or getting outside. Go walking or running. Use fitness and training apps. You can buy some inexpensive weights for lifting and find some cardio equipment someone is selling.

7. Refinance Your Mortgage.

Mortgage rates right now are at historic low levels. You can save hundreds of dollars a month on your home if you refinance your mortgage. You’ll need to take a few meetings before diving in. It’s a long process. Don’t sign up until they drop in interest is enough that it offsets the closing costs.

8. Take Small Steps.

Saving money doesn’t have to be some crazy step, you can take small steps. You don’t have to drastically cut your expenses. You can identify small expenditures that add up. Try to stick to this budget. Watch your spending patterns to figure out where the small purchases add up to cost a lot.

9. Get Away From Bottled.

It may surprise you to find out that bottled water is a big expense for most people. A bottle of water costs an average of $1.45. Americans spend $11.8 billion dollars on this water. The yearly cost for one person to drink this water is about $250. It’s best to drink tap water or buy a filtered system.

10. Discover The Library.

You can easily save money in a time of crisis by going to your local library. Many people have books stacked by their bed. Buying on Amazon Prime just seems easier than heading to the library. Read any book you want and return it to your library. It won’t go in your book graveyard this way either.

11. Stay Away From The Coffee Shop.

The drive-through coffee line just isn’t how to save money. You can save lots of money by making your own coffee at home. You’ll probably spend a few dollars a day on coffee at the drive-thru. By making it at home, you can save over $1,000 a year.

12. Automate your accounts.

Setting up your important accounts for auto-pay will help ensure your bills are paid on time as well as you may get a bonus. Some lenders will actually give you a discount for going auto. Ask your lenders and providers if they offer a bonus.

13. Buy Produce In Season.

You can actually save money in a time of crisis by buying fruits and vegetables that are in season. It actually costs less for companies to stock the grocery store with seasonal food instead of shipping it from another country. This means you don’t need to go with the most popular, expensive brands sometimes either. Even shopping your local farmer’s market in season should save you money.

14. Save A Few Extra Dollars Every Week.

You can learn how to save money from a kid. They often get a little allowance of a dollar a week. You should think like this and save a dollar a week. It’s a slow saving process, but it works. You actually put in one dollar for a few weeks then slowly elevate it to a few dollars a week. By the end of the year, you’ve saved over $1,000.

These brilliant saving money ideas will help you in downtimes. We never know when our little world of money will crash. It’s important to learn to save and be able to live in tough times.

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