Pandemic Personal Finance Update No. 8: How to save $1,000 a month by working at home (sell your car)

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Pandemic Personal Finance Update No. 8: How to save $1,000 a month by working at home (sell your car) GlobeInvestor

. If you’re part of a two-car household and working at home, consider selling one of your cars when the pandemic ends.

The Waterloo, Ont.-based tech company Open Text has said it will not reopen roughly half of its physical office space after the pandemic is over. Bank of Montreal’s chief human resources officer told Bloomberg News last week that as much as 80 per cent of its staff may adopt a post-pandemic work arrangement blending working in the office and at home.

Personal finance columnist Rob Carrick offers some tips to help you maintain financial flexibility as markets drop and businesses shut down over COVID-19.The sudden, shocking loss of jobs and income in the pandemic demonstrates the benefit of having cash stowed safely for an emergency. It also shows the benefit of travelling light in life. The fewer financial obligations you have, the more resilient you are if your income is interrupted.

Downsizing to one car from two will add to your spending through occasional ride-sharing, taxis, car rentals or bus fare. But even if you averaged $200 per month on these costs, you could still easily save $500 per month or more on transportation, or $6,000 annually.

 

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Selling car is a good option. So says www.economictimes.com as well.

globeinvestor Sure. There are tons of people out there that are in a position now to buy a second hand car

globeinvestor Sell it before the government sends around tow trucks to demolish/abolish all gas vehicles, in other words.

globeinvestor the childish advice this article offers is very much not worth the 2 bucks you gotta pay to read it

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