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18 Feb 2021

Money Management During COVID-19

The COVID-19 pandemic has had a huge impact on our way of life and how we keep on top of our money management. The UK’s unemployment rate has hit 5% for the first time in more than four years, according to official figures which suggest over 200,000 people lost their jobs in the three months leading up to November. There have been 395,000 redundancies and almost 10 million people in the UK have now been furloughed, figures suggest that UK unemployment is likely to reach 2.6 million by the middle of 2021.

Regardless of the setbacks, there are various positive things you can do to help save money, check out our quick and easy money management tips.


Budgeting

The most common way to stay on top of your money management is by budgeting. If you haven’t tried a budget then now is the time. By having a set budget you can track all your incomes and expenses regularly, there is a range of different apps you can use or you can even use a simple spreadsheet as an easy and simple way to keep on top. COVID- 19 has caused many people’s incomes to take a substantial hit, keeping an eye on what you are spending your money on is crucial and it will be easier to keep watch out on areas where you could cut back.

Saving money by working from home

When COVID-19 hit many people left the office and started working from home, by doing this many people are saving more money than they think. Workers across the UK were forking out as much as £544 for their monthly commute and other work-related costs before the UK went into lockdown last March. However, since then 65% of London workers have been able to save money from their commute budgets, saving as much as £300 a week.

Switch up your shopping habits

During the early stages of lockdown back in March 2020, it seemed that online shopping had increased by 21% compared to March 2019. Clothing, household goods and other stores’ had seen a proportion of online sales double during the pandemic period. With so many stores closed due to lockdown, shoppers had no option but to turn to the internet to find what they were looking for.

With so much time at home and target advertisements following us from one site to the next, it can be easy to overspend when doing your online shop.

Shop with Epoints

A simple way to keep on top of your money management is to shop with Epoints.

Epoints is a hassle-free shopping platform that allows shoppers to find exclusively lower prices at trusted retailers.

As an Epoints member, you can save money every time you do your online shop, collect Epoints and get more whilst paying less, It’s that simple. With over half a million products across more than 500 brands Epoints’ are constantly checking prices and comparing all the big name retailers including Amazon, John Lewis, ASOS and many more. When you shop with Epoints you’ll never miss a bargain again, there’s something for everyone.

Your employer can reward you and your team with Epoints at work as part of our rewards and recognition scheme. Epoints are a great way to say thank you for your hard work, when you are gifted this way we give you 10% cashback as a bonus.

Once you have found the right product you are looking for you can simply pay the difference at checkout, by using Epoints cashback you will instantly receive 10% cashback straight into your account whenever you shop. So you might be thinking why cashback? Here at Epoints we believe that you deserve the most from your rewards, you will receive tangible items delivered straight to your door and money off every time you do your next shop across thousands of retailers.

Epoints can be used as a brilliant perks at work incentive to reward those who truly deserve it. Get more, pay less with Epoints. To find out more about how to encourage rewards and recognition in the workplace please visit eachperson.com or contact us at info@eachperson.com

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