Simple Ways To Stop Spending Like You Did Before The Pandemic

With COVID-19 restrictions mostly-lifted, you may be enjoying a better social life than you did last year.

But dining out can seem pricey compared to a year and a half of home-cooked meals, especially if you experienced pandemic-related financial hardships. It could be time to recalibrate your spending habits according to the current situation. Doing so just takes some planning and a healthy dose of honest communication.

RECONSIDER YOUR VALUES

Your values may have changed over the past year. Ask yourself a few questions: What did I start or stop spending money on? What specific money goals do I have now? Your answers can help you create a list of your current values, in order of importance, which can lead to an updated spending plan. If you have a spouse or partner, involve them in this process, too.

“Many people think this process is for those who can’t save,” says Julie Quick, a financial planner, adding, “I would argue it’s for people who want to live intentionally.”

MATCH SPENDING AND SAVING WITH UPDATED NEEDS AND WANTS