How much did you save during the lockdown?

This post is not intended to glorify the lockdown but more of an encouragement to look at one of the bright spots during the pandemic. Looking at the savings always brings positive effects to our brain, so why don’t we?

Working from home for 3 months (and counting) gave me an opportunity to save money. If you are like me, driving to work, we might have the same savings pattern, especially in transportation. Here are some of the work-related expenses I was able to save:

That’s over 4,000 dirhams in 3 months.

But, on the other hand, we saw a significant increase in spending on the following items and utilities, that almost offset a big part of the savings:

1. Fruits
2. Vitamins
3. Flour (we bake, A LOT)
4. Snack box
5. Cleaning and disinfectant solutions
6. Face masks and gloves
7. Electricity bill (added usage of AC and computers)
8. Activities for the family (like board games to keep more active)

Thanks to an improvised family expense tracker app, we were still able to control the unexpected expenses.

You, for sure, may find more areas to save money during the quarantine, like commuting costs, gym memberships, movies, coffee at work, salon, spa, and more.

What to do with those extra savings?

If there’s one key financial lesson this pandemic has largely made us realize, it is the value of savings and emergency funds. If you are blessed to be able to save some, you might consider investing some of it to make it grow – or just not spend money unnecessarily.

A recent article in Gulfnews suggests to not send the money home, not make big purchases, and instead, keep the money intact to sustain yourself as difficult times are expected to continue.

Prepare for the inevitable.

Now is the best time to take lessons from the ants. Learn from their ways and become wise!

Photo from unsplash.com