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How Simple Cutbacks Can Make Life Easier In The Long Run

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By:
Wellspent

How has the pandemic changed you? We asked our Wellspent community to share some stories about their spending habits, adjustments to their financials, and mindset in the past few months.

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Justin, Toronto, Ontario 

How has your spending changed in the past few months?

My grocery spending has increased without being able to go out for meals in the area but I've been enjoying cooking more. I've also spent a bit more on video games as home entertainment.

I've been able to stop making student loan payments temporarily which has allowed me to cut my credit card debt easily and focus on savings while I'm able. Decreases in just going out to bars and restaurants have made a huge difference.

Read more about how to save money using Wellspent

What surprised you most about your spending pre-pandemic vs. now?

The amount I spent just going out to bars and restaurants for meals and drinks. While I definitely would like to go out again I think this has shown me that a simple cut back on this would make paying my student loan off much easier.

Learn more about how Wellspent can help you reflect on your spending

What are you hoping to purchase when this pandemic is over?

A simple haircut and some new shoes are all I really need once things reopen. And a nice dinner out with my girlfriend, of course.

Tell us about your most Wellspent day during the past month. This could be related to time Wellspent, a purchase Wellspent or anything really that brought you joy.

Buying and playing Final Fantasy VII Remake for PS4. Been an excellent way to pass the days.

What new thing did you learn/are you learning during the past few months?

I have been learning to fix old video game systems a bit, which has been fun.

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This article offers general information only and is not intended as legal, financial or other professional advice. A professional advisor should be consulted regarding your specific situation. While the information presented is believed to be factual and current, its accuracy is not guaranteed and it should not be regarded as a complete analysis of the subjects discussed. All expressions of opinion reflect the judgment of the author(s) as of the date of publication and are subject to change. No endorsement of any third parties or their advice, opinions, information, products or services is expressly given or implied by Royal Bank of Canada or its affiliates.