20 ways this pandemic is saving you money

Millions of people are out of work due to the COVID-19 pandemic, and many are struggling to pay their bills. The silver lining, however, is that with much of the economy shut down, it’s never been easier to reduce your spending. Here are 20 ways this pandemic is saving you money.




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Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Less need for public transportation

Many employees have been directed to work from home while governments deal with this crisis, while many others have lost their jobs altogether. Either way, ridership on public transit has dropped 70% to 90%, according to the World Bank, which means that many people are saving a lot of money on those expenses.




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Less spending on gas

Car owners who now work from home are saving money on gas, as they no longer need to make a daily commute to work. Those who still need to drive to work are saving money on gas right now, too, as low demand and global instability has resulted in rock-bottom gas prices.




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Fewer social engagements

Due to social distancing, large groups of friends are no longer able to meet up and spend time together. Smaller groups of friends are also discouraged, depending on the region, and many businesses catering to social gatherings are closed, anyway, meaning that you’re less likely to get carried away and blow your monthly budget on a night out.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.


Microsoft and partners may be compensated if you purchase something through recommended links in this article.


Microsoft and partners may be compensated if you purchase something through recommended links in this article.

No haircuts or grooming appointments

With many jurisdictions banning or restricting non-essential business operations, many barbershops, salons and spas have closed in the midst of this pandemic. While many wish they could maintain their personal appearances more easily, at least we’re all saving money as we learn to cut our own hair.




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Bars are closed

Along with most businesses, most bars have closed down or reduced their capacity during this crisis. Though some surveys suggest people are actually drinking more during this pandemic, they’re doing it at home, and store-bought alcohol tends to be cheaper than booze purchased at the bar.




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Fewer summertime activities

While some sports like golf and tennis can be played while maintaining social distancing, it’s difficult to imagine that recreational leagues for team sports like soccer and football will be able to resume normal activities. Given that summer camps for children are also up in the air, many people will find themselves saving money on various registration fees this year.




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Online shopping can be cheaper than in-store shopping





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Interest savings

The financial restraint being imposed on people by the pandemic is having knock-on effects for the future. With less money spent shopping, travelling or eating out, more money can go toward existing debts, saving people interest payments long into the future.




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Mortgage relief

Fortunately for people who lost their jobs, many jurisdictions are offering some form of mortgage relief that may help cash-strapped families save some money. The United States, for example, has allowed homeowners to apply for up to 360 days of forbearance on their mortgages, providing financial relief in a troubling time.




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Student loan relief

Many recently graduated students may have just lost their jobs and may not be able to make their scheduled student loan payments. Fortunately, many jurisdictions have paused payments on student loans, including the United States, where debtors won’t have to make payments from March to September of 2020.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.


Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Lower car insurance rates





Microsoft and partners may be compensated if you purchase something through recommended links in this article.

Fewer non-essential health expenditures

While many people schedule visits to dentists and eye doctors on a fairly regular schedule, the pandemic has rendered many of these services “non-essential,” and governments have asked people to postpone their regular checkups. As a result, you’ll be saving money, although you may have to deal with that toothache for a little longer than normal.




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Spending less money gambling

Casinos, like many other public gathering places, have largely been closed due to the likelihood of spreading the virus in close quarters. Las Vegas casinos reopened in early June (at reduced capacity) and other states are following, but many gamblers probably saved money while the industry was effectively shut down.




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Spending less at movie theatres

Movie theatres pack a lot of people in at close quarters, but they’ve mostly been closed since the beginning of the pandemic. Theatre chains are getting ready to reopen in July, but at-home entertainment options are much cheaper, and people can subscribe to Netflix for the price of a single movie.




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Going to fewer concerts

Concert venues are mostly closed due to the pandemic, and artists, big and small, have cancelled their tours. In the place of live music options, many artists have hosted “virtual” concerts on Instagram or other live-streaming services, usually for free.




Microsoft and partners may be compensated if you purchase something through recommended links in this article.


Microsoft and partners may be compensated if you purchase something through recommended links in this article.


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