5 Money Saving Tips For Expats & Cutting Back On Costs Post Pandemic
Many ex-pats have been faced with the prospect of a loss of income due to the COVID-19 situation and are struggling to make ends meet.
Here are our money-saving tips for ex-pats who need some assistance during and post-pandemic.
Renegotiate your rent, or move to a cheaper property
For most ex-pats, rent is the biggest financial outlay. If the pandemic has left you with a shortage or loss of income, now is a great time to approach your landlord to discuss your rent. This may feel a little awkward for some, but these are unprecedented times for us all, and many landlords are happy to help their tenants. Perhaps you could discuss a rent holiday or rent reduction.
If your landlord will not agree to this, perhaps now is the time to seek a cheaper alternative.
Turn existing assets into money
Do you have branded goods lying around your home that you no longer need or use? Selling these on is a great way to generate some much-needed cash.
Items such as old devices (phones, laptops, tablets etc.) are all sellable, as are luxury items such as handbags and other branded items.
Review and reduce your utility bills
Simply switching to a new supplier or rate can drastically reduce your bills, especially if you haven't made a switch in recent years.
For instance, broadband all runs on the same lines, you simply pay someone different for the service. With many services competing for your business, you can usually find a cheaper deal to that which you are on. This goes for most utility bills too.
Many companies make switching easy. Often you do not even have to cancel with your current provider, they do that too!
Review your memberships and subscriptions
If you are looking to save money post-COVID-19 pandemic, having a look over your outgoings is the easiest way to make some cuts. If you have, in the past, signed up to subscriptions or memberships, now is the time to review them and decide if they are really necessary as this present time, such as working out from home rather than at the gym.
Review your direct debits
Believe it or not, but you may have direct debits going out of your account that you either forgot about or that are no longer relevant. Perhaps it is a subscription for a publication that isn't needed or a travel card. Cancelling these can save you lots of money instantly.