Times are tough, people are losing their jobs, the economy is on the fritz and worries over savings balances are growing. That’s why The Daily Bundle is releasing its first article on money saving advice in crisis times.
Ever thought to yourself, I really should have saved more money when it’s already too late? Have you ever searched under the couch to try find a bit of extra money because your bank balance isn’t giving you the number you need? We’ve all been there…
Continuous bad news about job losses, the negative impact on the economy and the stock market are driving us to consider, what can we do to save more money for the bad times?
The Traditional Advice
Looking at the many sources for money saving advice, there’s a lot of shared advice regardless of where you look – it’s as if another article on the topic won’t be of any use…
Anyway, some of the most commonly referenced tips include:
- Strict budgeting for necessary and unnecessary purchases… Does that custom yoga mat count as necessary?
- Make monthly payments into a savings account with interest (no, under your mattress doesn’t pay interest)
- Avoid credit cards and debt where possible
Now, with the ongoing pandemic, experts talk about how it should be easier to save with fewer opportunities to make impulse buys. But, the world wide web is still open and ready for all kinds of ridiculous purchases – tiger cub anyone?
The consensus on saving hasn’t changed much with the outbreak of Covid-19, although negotiation of bills and rent is suggested more often now. But what if there’s another approach?
The Trumpitional Advice
These aren’t traditional times, so should we be following traditional advice? Luckily for the world, our wise commander in chief could just have a better route.
Recently in an interview with the impartial news source, FOX, Trump discussed the relationship with China.
As he continues to remind the world that the coronavirus deaths are not his responsibility, Obama, the media, the WHO and especially China, take a lot of heat.
That trade deal is at the core of his money saving advice in fact. The Don has stated that by cutting all ties with China, one of the most important trading partners to the US, will save the great country a small sum of $500 Billion – Simple!
Readers from the UK may feel some deja vu of a large red bus that made a similarly huge claim about ‘savings’ from the Brexit campaigning days… How much truth did that one hold?
We know that Trump is a trade guru, and generally a genius – if you ever forget, he will gladly remind you (by last year he had over 2,000 tweets praising himself and has self-congratulated over 600 times in coronavirus briefings).
So of course, his opinion here is solid as a rock, it’s the art of the deal. But how can you apply this to your own financial situation if you don’t have multi-billion dollar dealings with the Asian superpower?
We pondered this idea and realised that there is a similar action you can take. And that is to completely cut ties with your landlord!
President Trump regularly claims he and President Xi Jinping have “a very good relationship”. But right now, much like a teenage relationship on the rocks, he claims that he doesn’t want to speak to him – no love heart emojis are being exchanged.
So why not follow Mr Flump’s course of action, and simply stop talking to your landlord to potentially save billions? Or cancel that Netflix subscription and jump on some other bozo’s account. Or even fill up the order basket on Amazon, knowing your Paypal account hasn’t been active since 2018.
The advice is simple here, get what you want now and make someone else pay for it later.
And if all else fails, why not ask your folks for a small loan of a million dollars to get that lockdown business idea started!
(DISCLAIMER: We actually think this is terrible advice, and you should probably go with the traditional advice instead)