How to Stretch Your Money?


Times are tough and every single coin matter. These times are uncertain, many have lost their jobs, others on unpaid leave, some are having been slapped with a pay cut and of course the lucky ones who have jobs and get paid in full. However, whatever category you find yourself in saving is paramount! This cannot be overemphasized enough. Truth is, no one could have predicted that 2020 would have a pandemic that consequently would cripple our livelihood. But we find ourselves here, we cannot afford a pity party now, so we adapt and innovate. With agency, the number one action should be cutting cost.

We have found a simple way that has proved effective for us. That is listing down the “needs” and “wants”. Needs are basically those that cannot wait. It includes rent, food, loan repayments, transport costs, basic utilities such as electricity, water and internet, phone bills. Wants are new clothes, alcohol, ordering in and other unnecessary entertainment.

What do we advise?

We have found that making a budget is much more efficient and effective as compared to tracking your expenses. This means, with a budget you already know how much you are spending and on as opposed to figuring out how you spent the money – which is tracking.

A good budget should be thorough, realistic, flexible and non-restrictive. In such a way that your every need is catered for. Realistic that it makes sense, it can be reviewed and modified according to situation. A good budget will allow you to engage in your guilty pleasure occasionally.

 By the way, did you know that you can negotiate your rent with your landlord? Write a letter explaining how corona has affected you. Set aside this money you have cut cost as savings.


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