While several U.S. states have eased lockdown restrictions, the COVID-19 curve has yet to flatten. In fact, many cities across the U.S. have witnessed a rise in cases post-lockdown rule relaxation.
The ongoing period of turmoil, uncertainty, and rapid flux isn’t letting up, and it may take several months before things begin to settle down.
If you’re struggling to keep your finances in check during these times, you’re not alone. According to research, over 71% of Americans feel that their COVID-19 financial plan needs to be more robust.
To help you ensure financial security, we’ve rounded up five smart financial decisions you should be making during the COVID-19 crisis.
1. Finance Residential Investments
With interest rates across the U.S. at an all-time low, making smart financial decisions is imperative. This means that financing residential investments right now is a great way to save money.
Whether you require a set of custom steel doors for greater residential security and safety or need to invest in an affordable pair of sectionals for your refurbished living room, opt for a secure and reliable financing plan.
The flexible payment plan will help you reap the benefits of a great bargain without the worry of payments affecting your current finances. Instead, you can conveniently and systematically pay monthly installments over the course of 3, 6, or 12 months.
2. Cancel Unused Subscriptions and Opt for Free Trials
Do you really need that Allure Beauty Box subscription?
What about that HelloFresh subscription plan?
Carefully analyze current subscriptions and weed out unused subscriptions.
For subscriptions that you actually use, we recommend browsing through the service’s website and checking for a free subscription period during the ongoing pandemic. Many companies are offering free trials and subscriptions for a certain period. Familiarizing yourself with and making the most of these offers will go a long way in helping you save $$$.
We also suggest going through subscriptions that may seem essential but can be easily tossed. These include Netflix, YouTube Premium, Spotify, Amazon Prime, and Audible subscriptions.
3. Preserve a Good Credit Score
Establishing and maintaining a good credit score goes a long way in helping you secure loans in the future and getting lower interest rates.
Financing residential investments is a great way to improve your credit rating. Make timely payments and check your credit report on a regular basis to maintain a good credit score.
If you’re unable to make timely payments, we strongly recommend contacting your creditors immediately. Their financial advice and expertise can play a central role in helping you stay afloat.
4. Create and Stick to a Budget
While creating a budget doesn’t take much, sticking to it is a real challenge. We strongly recommend devising and following a monthly or, better yet, weekly budget to stay on track.
Use a budgeting app if necessary to facilitate the process.
5. Get in Touch With Your Insurance Providers
There’s always a chance that you could save money on insurance. Contact your insurance providers and request a cheaper policy.
We suggest getting in touch with auto, trauma, life, health, business, and home insurance companies to save a significant sum.
You may be able to save on your phone plan as well. Browse through cheaper data plans offered by other providers and choose the best option accordingly.
Their generous financial plans with Affirm help customers purchase cutting-edge residential doors without breaking the bank.
For more information, call 844-843-6677.