Cutting Expenses in Times of Financial Distress – Episode 185

April 8, 2020

An estimated 67 million people will have trouble paying their bills due to the fallout from Coronavirus. A lot of us have seen our income drastically cut, or maybe you don’t have ANY income at the moment. It’s important to prioritize our money now and conserve our cash, because in a tough economic cycle we might have more need for it. So the time has come for many of us to tighten our belts and cut some expenses so that our finances can survive the economic hardship that many of us are facing. There are changes that need to happen, but what expenses do we need to look to in order to make a dent in our monthly or annual expenses?

  • swapalease.com and LeaseTrader.com if you’re trying to get out of a lease.
  • Shop your car insurance with PolicyGenius to cut your rates today.
  • Just because you’re watching more TV now than ever, it doesn’t mean you have to be paying for it. Try some free services like the Roku Channel, Sony Crackle, Pluto, and Kanopy. Oh, and that German ‘Stranger Things’ is called Dark (not dark matter).
  • Don’t forget that shopping some services that you’re not used to shopping, like your cell phone carrier could allow you to save $1,000 annually. We’re big fans of Mint Mobile.
  • Joel and I both got our oldest daughters Woom bikes– we’re all doing a lot more biking with our extra time at home!
  • If you don’t already have a high interest savings account, check out why Joel banks with CIT

During this episode we enjoyed a Mr. Blue 2019 Edition by TO ØL Beer- thanks to Jeremy in NC for donating this one to the show! And as we ramp up the podcast with an additional Friday episode every week, we could really use your help to spread the word- let friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to spread the word to get more people doing smart things with their money in these difficult times!

Best friends out!

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4 comments on “Cutting Expenses in Times of Financial Distress – Episode 185

  1. Samara B Apr 8, 2020

    I just unsubscribed from almost every single subscription that I had. Thank you so much for the reminder!

    • You’re welcome! Isn’t it amazing how whatever tends to be in front of us is what dictates what we do?! I’m definitely that way so the best thing for me is to remove those distractions altogether.

  2. Steve Apr 9, 2020

    I was really confused when i watched the trailer for Dark Matter (Snowboard Movie) so thanks for clarifying! Love the show keep up the great work….I’m getting ready to watch some DARK with my favorite beverage. Steve Out!

    • Haha, I’m glad that is was just a snowboarding movie and not something worse! Keep us posted if you would and let us know how Dark compares to Stranger Things- thanks for listening!