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Covid-19 Presents a Unique Opportunity to Cut Spending

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Last Updated on October 21, 2020 by Early retired mom

Wow, these past few weeks have been like one big roller coaster, or more of a ski downhill. Especially for people looking to cut spending and to stabilize their financial lives.

Life has changed everywhere in the world. And it seems we need to start getting adjusted to the fact that getting over the Coronavirus global outbreak will take some time, unless magic will happen fast.

It is almost like we live in a nightmare that we cannot wake up from.

But with challenges comes an opportunity, right?

If you have read some of my posts, you know that my husband and I have 3 small children. One 3 years old daughter and twins who are now 1.5 years.

They are home with us for the past week, and I can honestly say this has been one of the most draining weeks I have had in a long time.

Trying to keep our job, while working from home and needing to take care of our 3 bandits is sometimes impossible.

When they are all up and awake, my husband and I are helping each other to keep the twins away from doing all sort of crazy things, feed them, entertain them all and taking care of the shower routine.

We rarely rest.

We found out that the time we can work on our day job is once they are in bed. That means 2 hours after launch and after they go to sleep at night, which means 20:00-21:00.

At that time, we are just exhausted, and our mind are just not functioning.

Life with kids during Coronavirus global outbreak is tough for sure. But trying to keep your job in the process is another layer which makes our lives stressful at the moment.

We are now thinking of ways how we can cut spending even more than before as we do not know what the future holds for us.

It is not easy thinking that we could both lose our jobs. But this is what keep me motivated to write you.

Luckily, I am working from home, so I am not physically needed at work, however, the IT industry will be taking a hit as well during the coronavirus global outbreak days.

I cannot decide to take vacation as I truly need this income. We have finished our new home renovation last month as we have home loans to pay.

I cannot take any risk to lose my job. If I am not at work, and not producing any value to my employer he may decide to let me go. And I want to prevent it as much as possible.

However, I do want to also prepare my self and my family for the worst of having no work.

Desperate times require desperate measures, no?

I have started the journey to quit my 9-5 job and get out of the rate race just in January of this year.

I never thought this would happen. Who is the world though this could happen?

A recession will delay our plans for early retirement unless we think outside the box.

We had to be creative and come up with a plan that will help us go through this period without my husband and I, pulling each other’s hair and something to help us cut spending even more in these unstable days.

As Napoleon Hill, the author of the legendary book “Think and Grow Rich” first published in 1937 toward the end of last century’s Great Depression, said wisely:

Image result for think and grow rich

“Opportunity often comes disguised in the form of misfortune, or temporary defeat.”

Napoleon Hill

Even in crazy times like the world is going through these days, there are always opportunities. Even if you just got laid off, and you think there is no hope – please know there is always hope if you believe it and see it in your imagination.

We all have to take control of our destiny and stir the ship to safety. Regardless of which country we are in.

If there was something that coronavirus global outbreak has shows us all is that life is fragile, everything we thought is stable just broke apart and it is up to us to glue the pieces back and rebuild our life’s.

Who knows, we may not want to go back to our previous life anymore after the coronavirus outbreak will be over? But that is a whole new post to write.

Co-living to drastically reduce household spending

I have an extra room in my home. If you have as well and need to drastically reduce spending, you should continue to read.

As we do not know how long it will take us to go back to normal life, we must find a new way to live our lives and especially with small children.

We have decided to open our home to co-living.

My sister is a single parent with a 5-year-old. She is a teacher and currently not working as well.

So, I have asked her to come and stay with us during this period.

The idea behind this was to have the two older kids play together and entertain the twins. They all know each other well and just love spending time together. Our kids are more entertained and keep each other busy.

We get to have more time to work as we work in a rotating schedule.

And most importantly, we share household expenses and able to dramatically cut spending. It also helps us to maintain our monthly budget and even save much more.

We are joining hands together to go through this period together and make our life with kids more enjoyable and relaxing.

It’s like we created our own community, and we made our enforced social distancing to a more manageable situation.

For us this is the perfect solution.

Co-living during coronavirus global outbreak have turned out to be a great success.

The point is that co-living is not only for singles. Families can split their housing expenses with someone else as well.

Is there an extra room in your house or apartment?

If you’re uncomfortable living with a stranger like me, consider living with other people in your extended family.

Maybe it’s just me… but

I may be an idealist, but I think that acting as a community now, explore ways to joining hands together and efforts, will get us out of this financial crisis stronger.

I found this great article which takes this initiative of co-livings into a whole new concept.

Yours,

Early retired mom


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