5 Unique Ways To Reduce Expenses During Coronavirus
You may be experiencing some sort of financial hardship and wondering how you can cut expenses. Before you consider having to take a Chapter 7 Means Test Calculator to estimate Chapter 7 qualification or Chapter 13 Payment Calculator to estimate monthly payment plan, see the following options that may help you reduce expenses and avoid debt relief all together.
1) Look at Credit Karma Tax That is actually 100% Free
TurboTax says it’s free. It’s not. Credit Karma says it’s free. It’s free. File your 2019 income taxes yourself to avoid additional fees and take advantage of the recent announcement from the IRS that the federal income tax filing due date has been automatically extended from April 15, 2020 to July 15, 2020. Check with your state’s Department of Revenue office to see if their income tax deadline has been automatically extended too. Chances are good the tax deadline is now mid-summer as well.
2) Determine whether putting a vehicle into a non-planned operation works to save money on car insurance.
It may be wise to suspend your car insurance if you aren’t using your car at all for a month or more. This option varies from one insurance provider to the next, but could be a great option to save some money if you have an alternate means of transportation for limited trips in the meantime. Keep in mind, if you have an active loan on your vehicle, most lenders require insurance to cover theft and damage.
3) Switch your phone coverage.
There are many discount providers that still work great wherever you are. You may consider options such as H20 Wireless. Metro by T-Mobile is another great option. There are many alternatives to wireless plans that allow for consumers to receive reliable service. Most alternatives offer month-to-month plans and unlimited data, which makes it convenient to participate in video calls and streaming services without constantly analyzing data usage. Many allow for payment plans regarding phones and it’s even more economical if you can use an older phone that you own outright.
4) Ditch cable TV
Use your extra time around the house to research cutting the cord. There are too many cable TV alternatives to keep paying for overpriced TV. There are options like the Amazon Fire TV Stick is extremely affordable and allows consumers to stream shows even on older televisions.
5) Erase random expenses
Take a hard look at your monthly bills. Do you need to pay for Pandora Plus, Pandora Premium, Spotify, or an audible book subscription? If your daily commute has been affected by the coronavirus, then you can pause these subscriptions and evaluate whether you really need them when you are back on the road again. Do you need to continue paying for antivirus software? Look at your credit and debit card statements to see what you aren’t using regularly and won’t miss.
You may be able to avoid debt relief such as Chapter 7 bankruptcy or Chapter 13 bankruptcy by reducing your expenses. Hopefully you have a few extra tricks to start reducing your expenses today.