How to save $300 or more instantly

Are you looking for a way to save money during these tough times? In this article, I’m going to tell you an easy way to save up to $300 instantly.

Because of the COVID-19 pandemic, most of the office employees have had to switch to working from home. A lot of the companies have even reduced their employees’ pay by 40-60%, which has taken a significant toll on people’s financial situations. As a result, almost everybody is looking for ways to save some money so they can somehow get through these tough times. A lot of people have even started looking for part-time jobs online so they can make ends meet.

Audit your bank statements

I advise you to take some time out of your day and audit your bank account statements from the past few months. While going through the same, you might find several subscriptions that you aren’t using or don’t require anymore during the lockdown.

For example, just recently, a vast number of people unknowingly lost a significant amount of money to Centr – The Fitness App. They had bought a 6-weeks trial version from the Centr website, and then they were charged a whopping $200 for an annual subscription, simply because they had forgotten to cancel their trials. You can read more about it here.

Similarly, you might end up finding multiple such subscriptions that you’ve taken up on your account while auditing the statement. It might be for the gym, some fitness apps, travel apps, etc. By just canceling these subscriptions, you can save around $100-$200 per month, easily.

When I audited my bank statements I found out that I had membership of multiple websites that I haven’t used in last six months but was charged $50 per month. This was most effective way for me to save.

Sharing is Caring

You must have heard this proverb multiple times. How sharing with others is a way to show them you care about them. But, right now, sharing is not just caring for others. It is also a way to take care of yourself (and your pockets). Since we’re all constrained to our homes, many of us have subscribed to streaming services such as Netflix, Amazon Prime, Disney Plus, etc.

So, instead of taking up single subscriptions, which costs more, consider grouping up with some of your friends or relatives and buy a joint subscription with them. By doing this, you won’t just save your own money; you’ll be able to help your friends and family save up, as well.

Netflix has an option of multiple screens in each of its subscriptions. It offers up to 4 screens in its most premium package. Consider buying the same with your friends. I share it with my 2 friends. While they have some other platform subscription like Disney+ that they share with me. Golden rule is one friend one subscription and then share within the group.

If you are interested in gaming, you can even partner-up with your gaming buddies to buy games and then share your Steam library with them. This way, they’ll be able to play and enjoy all the games that you buy together. Learn how to enable Family Library Sharing here. (Note: Only one user can play a shared game, at a time).

These are few of the ways that can help you save money during these tough times.

Let me know what works for you. If you think of some more ways, kindly let us know in the comment section!

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