While my expenses were already low, COVID-19 and sheltering at home have led to my monthly expenses being even lower. There are just a few days left in this month and I’m on track to have my lowest monthly expense total in years. Here are some of the ways that COVID-19 has cut my costs.
My transportation expense is way down for the month. Since I’m no longer commuting and there aren’t to many places to go I’m hardly driving my car at all. The price of gas has also gone way down. The combination of less driving and cheaper gas will lead to my monthly transportation costs being cut almost in half.
I’m also saving a lot on entertainment. The movie theaters are closed so I’m no longer being charged the monthly bill for my Regal Movie Pass and I’m not purchasing any overpriced concessions. My entertainment mostly consists of YouTube, Netflix, and frequent walks in the park. My monthly entertainment expense is basically zero now.
Food is yet another area where I’m saving money. Since it is no longer an option to dine-in at restaurants my restaurant spending is way down. I’m making fewer trips to the grocery store and stocking up on cheap staples when I am at the store, which has lead to spending less on junk food. That combined with some of my favorite grocery items being out of stock has kept my grocery spending pretty low. When I do get a craving for fast food and visit a drive-thru, there are some great deals allowing me to get a meal for just $1 or $2 or even free. My food expense for this month will be one of the lowest totals in years.
I’m saving on travel since I can’t do any traveling. I canceled a couple of flights this month and got a refund of the taxes paid. I wish I were spending more on travel since I want to travel, but I will have to wait. I’m grateful that not being able to travel is the worst inconvenience I’ve incurred due to COVID-19. Many people are suffering and enduring great hardships so I can’t really complain about having to delay my travel plans for a while.
I’m also moving in with my Mom for a while. My original plan was just to stay there for a couple of weeks before I started traveling. That plan is obviously out the window. I already ended the lease on my apartment so I’ll be staying with my Mom until I can travel again. I’ll be paying some expenses there as a rent payment. That will help my Mom out and save me money compared to what I’d pay for rent in the city.
All of these things combined have lead to a large reduction in my monthly expenses. I’m not sure how long this will last, but I think my monthly expenses will be lower than normal for quite a well. How has the pandemic affected your finances?
We have also spent much less. Our regular budget is $2100 per month and last month we spent $1400. Very eye-opening to see how much money we spend on wants as opposed to needs…
Yes, I didn’t think I had much to cut. The reduction in expenses was quite surprising.
I have saved a lot by not being able to travel. Like you I am itching to go somewhere, anywhere! When it’s time, I have a lot of hotel points and airline miles to help cover the cost, so frugal travel is in the future! I switched from Google Fi which is helping save over $100 a month. Also saving on AMC A List and other entertainment costs. I thought I would save on food cost but it’s mostly shifted from restaurant spending to increased spending at the grocery store.
It’s nice that you are saving money on housing. This is the area I have the greatest opportunity to cut costs but it will be a while before I can move to a new house with a lower mortgage payment.
I’m hoping I’ll be able to travel again by late summer. If international travel isn’t possible, I’ll travel domestically. In the meantime I’m saving money and accumulating miles and points so I should be able to travel frugally too.